Sneakers’ booming performance in Spain deflates: import up “just” 1.6% in 2018. And JD Sport buy Footasylum

Is sneakers’ success almost over? Spain answers to the question we asked in in the cover page of our monthly January edition: sneakers’ imports have tripled in the last decade, but in 2018 they only grew by 1.6% only, after four years of double-digit increases. While in 2009 (last year in the negative) the import of sneakers in Spain was worth nearly 80 million euro, while the volume today has reached 630 million: the true performance boom was in 2014, when purchases increased by 42%, to later grow at a double-digit rate till 2017. The largest exporter of shoes shipping to Spain is Belgium, with 144.3 million euro of sales this past year, a value 55 times that of 10 years ago. Why Belgium? Because that’s where Nike’s European hub is located. Among the factors that have contributed to the slowdown of sneakers’ performances in 2018, writes modaes.es, there is also Italy, whose export towards Madrid decreased by 12.9%. Business continues to be good for companies offering second-hand shoes to the online market, as well as cleaning services for footwear. The last example comes from JD Sports, which, via an OPA, will buy 100% of British footwear and sport clothing chain, Footasylum. The latter is valued at 105.7 million euro. JD Sports Fashion had increased its interest to reach 18% of the brand this past month, while negating it would buy the entire company. Fun Fact: Footasylum was created in 2005 by one of the co-founders of JD Sports.

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