Changing the Designer Sneaker Market: From Hype to Functionality and Minimalism
Just a few years ago, designer sneakers were cult items driving massive sales.
Every major fashion house had its own iconic sneaker model generating significant revenue. But in recent years, that’s become less obvious.
At the end of the 2010s, designer and luxury sneakers experienced a renaissance. Brands released them to attract younger customers and capitalize on the popularity of streetwear. Models like the Balenciaga Triple S, Alexander McQueen Oversized Sneaker, and Louis Vuitton LV Trainer brought in millions.
The Situation Has Changed
Sneakers still play an important role in the luxury playbook.
But… fatigue from constant releases, shifting tastes, and declining demand from the “accessible luxury” consumer (those with savings who were once willing to spend on high-end fashion) have pushed sneakers out of the spotlight.
The hype has faded.
According to analytics firm Circana, sales of designer sneakers in major U.S. department and discount stores declined by 21% in 2024 compared to 2023 — and by 37% compared to 2022.
Even in the resale market, demand for core-line luxury sneakers is down. According to StockX, most of these models are resold below retail price, with few exceptions like rare archival pieces (e.g., original 2000s Rick Owens Geobaskets) or extremely limited collaborations.
How Is Luxury Responding?
They’re resisting.
Luxury brands aren’t eager to give up on high-priced sneakers — even if they’re no longer bestsellers.
To maintain interest, they’re shifting from influencer hype to partnering with expert athletic brands.
For example:
Marni released running sneakers in collaboration with Hoka.
Balenciaga unveiled a distressed version of the Puma Speedcat at Paris Fashion Week.
Today, sneakers are considered a standard wardrobe staple for luxury brands and a key segment of the footwear category. Every luxury retailer is expected to carry sporty models, and brands are expected to include them in their collections. At Giglio.com, over 50% of footwear revenue comes from sneakers.
DEMAND TRENDS
1. A Turn Toward Performance & Athletic Credibility
Luxury footwear faces a challenge: consumers now value function over fashion, even at the high end.
Athletic brands like Hoka, On, Adidas, New Balance, and Nike have become the true authorities.
Luxury brands have taken note — and started partnering with these “competitors.”
Luxury x Sports collabs are showing strong results:
Miu Miu x New Balance models sell out in seconds.
The Loewe x On collaboration has become a key footwear segment on Mytheresa — functional sneakers with a fashionable twist.
2. A Shift to Minimalism and Subtlety
Luxury houses are responding to demand for cleaner, more restrained sneakers — moving away from loud, logo-heavy styles of the past.
Examples:
On Giglio.com, shoppers prefer low-profile sneakers in neutral and brown tones from Zegna, Saint Laurent, Brunello Cucinelli, and Tod’s, all fitting the “quiet luxury” trend.
On Mytheresa, a top seller is the elegant suede sneaker from Dries Van Noten.
Analytics firm Edited confirms the rise in minimalist sneakers inspired by athletic icons like the Adidas Samba or Puma Speedcat.
This trend has helped boost luxury models like the Prada Collapse, which is nearly sold out on Prada’s U.S. and U.K. sites. It’s also fueled the growth of Golden Goose, which posted double-digit sales growth in 2024.
3. The Retro Revival
Designer brands are increasingly releasing retro-inspired sneakers — not authentic vintage models, but modern reinterpretations.
Why Collabs and Drops Still Work
While the mass market may be burned out on endless sneaker collabs, in the luxury segment, they still have strong appeal. This is thanks to the technical expertise of the athletic brands producing them.
Nearly all Hoka collaborations, including the recent one with Marni, are based on authentic running models.
Additionally, collabs offer a more affordable entry point into luxury.
For example, Loewe x On Cloudtilt sneakers retail for $550, still cheaper than the luxury Loewe Ballet Runner, which costs $790.
ANNA LEBSAK-KLEYMANS
CO-FOUNDER AND CEO OF FASHION CONSULTING GROUP