Winners & Losers of the Sneaker Industry in 2022
One of our favorite year-end traditions is list-making. The process helps categorize all of the new information we absorbed and hopefully recognize some larger trends.
Something we are not fond of is calling anyone a loser. But sometimes, people take an "L." Just as others are more fortunate at times. The sneaker industry is rapidly evolving, and several popular brands and athletes enjoyed mixed results this year. Below are the biggest wins and losses of 2022.
Win: WNBA
Elena Delle Donne reacts after a made shot.
Brad Mills-USA TODAY Sports
Sheryl Swoopes made sneaker history in the late 1990s when she became the first woman athlete with a signature line. As we wrote in November, the WNBA has become the new battleground for sneaker companies.
Adidas, Nike, and Puma all have signature athletes in the WNBA. Under Armour might be added to the list soon after the major signing of Kelsey Plum. All of the women's hoop shoes look and perform great on the hardwood.
Loss: Ye
Ye performs during a concert.
© Jeff Swinger-USA TODAY Sports
No individual had a worst year in the sneaker world than Ye (formerly known as Kanye West). The highly-controversial rapper's antics were hurtful to many and annoying to everyone.
Ye revolutionized the footwear industry over the past decade and burned it all down within a few weeks. Adidas officially parted ways with Ye in October and plans to continue releasing models from the Yeezy line without any of the brandings.
Win: LeBron James
LeBron James stands at the foul line.
Kirby Lee-USA TODAY Sports
The Los Angeles Lakers are not going anywhere this season, but LeBron James is in the midst of a historic year. James is poised to pass Kareem Abdul-Jabbar as the league's all-time points leader.
Additionally, James' signature line has enjoyed a resurgence. Over the past few years, the Nike LeBron line kept producing bulky shoes that did not look great on or off the floor. The Nike LeBron 20 changed that thanks to its slimmed-down silhouette designed with the next generation of players in mind.
Loss: adidas
View of adidas store.
© Mackenzie Shuman / The Arizona Republic, Arizona Republic via Imagn Content Services, LLC
Adidas had some highlights in 2022: Lionel Messi's World Cup victory, singing 12 NBA rookies, and re-releasing several fan-favorite sneakers. Unfortunately, there is no escaping the Ye controversy.
According to Forbes, adidas is losing $645 million after severing ties with Ye. There is a $247 million loss of sales this year stated by the company, and the $400 million in lost 2023 revenue forecast. The company made the right move by dumping the antisemitic rapper, but they enabled his toxic workplace behavior for far too long.
Win: New Balance
View of the New Balance 550.
New Balance
Almost every day, we get comments from befuddled social media users asking if New Balance is now cool. The answer is a resounding yes. Sure, New Balance produces performance footwear that can go toe-to-toe with any of its competitors.
However, it's the lifestyle models that have breathed new life into the Boston-based brand. Models like the 550, 650, and 9060, as well as other fan favorites, have been exciting to watch grow in popularity. Plus, collaborations with Aime Leon Dore and Joe Freshgoods have pushed New Balance over the top.
Loss: Kyrie Irving
Kyrie Irving sighs during a game.
Brad Penner-USA TODAY Sports
Kyrie Irving was one of Nike Basketball's most popular signature athletes for almost a decade. His play was electrifying, and his aesthetically-appealing kicks were affordable.
Cracks between Irving and Nike began to form in August 2021 and were irreparable in just over a year, thanks to the polarizing point guard's controversial rhetoric. Irving has no one to blame but himself for the termination of his sneaker deal. Unfortunately, fans and hoopers also caught an L because of Irving.
Win: Stephen Curry
Stephen Curry smiles after a made shot.
Yukihito Taguchi-USA TODAY Sports
Jokes about Stephen Curry's basketball shoes are about as played out as other memes from 2014. Thanks to Under Armour and Curry Brand, the reigning NBA Finals MVP has enjoyed a renaissance of his signature sneaker line.
Throughout 2022, Curry Brand launched retro and new models that fans have gobbled up. Not only do Curry sneakers perform well on the court, but they have the stamp of approval from BTS' rapper Suga.
Loss: StockX
View of StockX tag.
© Kimberly P. Mitchell, Detroit Free Press
StockX is arguably the most user-friendly sneaker resale website/app. Depending on who you ask, it is also one of the most maligned. 2022 was not a good year for the American company. In May, Nike sued StockX for allegedly selling counterfeit sues (StockX later countersued Nike). In October, StockX announced it was raising its seller fees.
Whether in life or trying to hit on a Nike SNKRS release, we all take losses at different times. The good news is that we can always bounce back. Overall, 2022 was a solid year for the sneaker industry, and we hope 2023 is even better for the footwear world and its dedicated fans.
Update:
StockX did not remove its "verified authentic" tags. The change that happened was a language change, and the company's multi-step verification process remains the same.
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