ClickZ Luxury Footwear Newsletter - 08.22.2024

PLUS: Take a look inside Entrupy's new TikTok partnership

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ClickZ
August 22, 2024 • Estimated Reading Time: 6 minutes

Specialty Bites 🍪

Spanx founder Sara Blakely is stepping into a new venture with the launch of Sneex, a footwear company dedicated to creating comfortable high heels. Set to debut on August 20, Sneex aims to revolutionize the high heel market with its innovative "hy-heels," a sneaker-stiletto hybrid. Blakely, who has been secretly developing this concept for nine years, shared her excitement on Instagram, stating, "I've been secretly working on and dreaming about something for years. A new invention, and a new brand."

The patented design of Sneex features a 78mm heel, crafted from premium materials like napa leather, Italian mesh, and suede. The shoes are engineered to address common pain points associated with traditional high heels, offering re-engineered weight distribution, a comfortable toe box, and arch support. Blakely's enthusiasm is palpable as she reminisces about her early days with Spanx, noting, ""Back in start-up mode. Let's GOOOO! Another company with boxes in the garage. Reliving my Spanx days for sure. Only this time I actually have a garage.""

Blakely's track record of innovation is well-established. She founded Spanx in 2000, and in 2021, private equity giant Blackstone acquired a majority stake in the shapewear company, valuing it at $1.2 billion. Sneex currently offers three styles in multiple colorways, retailing from $395 to $595, promising to blend style with unparalleled comfort.

With Sneex, Blakely is poised to make another significant impact in the fashion industry, combining her entrepreneurial spirit with a keen understanding of consumer needs. The launch of Sneex marks a new chapter in Blakely's illustrious career, one that promises to bring both innovation and comfort to the world of high heels.

Entrupy expands its partnership with TikTok to authenticate pre-owned sneakers, addressing the growing counterfeit market. With an accuracy rate of 99.1%, Entrupy aims to protect buyers and sellers. The collaboration highlights the need for advanced authentication tools and education to combat counterfeit goods in the booming resale market.

Industry Appetisers 🥨

H&M collaborates with Indian designer Anamika Khanna, launching a collection on 5 September. Known for her eclecticism and craftsmanship, Khanna's designs blend traditional Indian silhouettes with contemporary cuts. The collection includes womenswear, menswear, jewellery, and accessories, available in stores across multiple countries and online.

Supreme is set to release a Nike Air Force 1 Mid sneaker in all-white and all-black this fall. Featuring a debossed Box Logo and co-branding, these mid-tops follow the success of Supreme's low-top variants. Expect them during Supreme's fall season drops, priced at $133.

Performance Platters 🍽️

Fospha's TikTok Playbook reveals that brands are now allocating an average of 10% of their marketing budgets to TikTok, recognizing its exceptional return on ad spend (ROAS) during high-traffic periods like Black Friday and Christmas.

Fairfax & Favor's success on TikTok during the 2022 Christmas period, with a 217% increase in ROAS and 113% increase in conversion rate, demonstrates the platform's potential for luxury footwear brands to target high-value customers through Value-Based Optimization. Similarly, Crocs' #ThousandDollarCrocs challenge generated over 2.5 billion views and contributed to a 20% year-on-year lift, highlighting TikTok's effectiveness for mainstream footwear brands in driving engagement and sales through user-generated content.

TikTok's ability to attract new customers makes it ideal for product discovery, with the platform's broad reach and engaging content format driving both immediate demand and long-term growth. Fospha's playbook emphasizes the importance of a full-funnel strategy and creative optimization to stand out during peak periods when competition for attention is fierce.

As footwear brands prepare for upcoming high-traffic events, how can they develop a comprehensive TikTok strategy that balances targeted advertising, user-generated content, and creative campaigns to maximize both short-term sales and long-term brand engagement?

Brands are rapidly adopting viral internet phrases like "very demure" to stay culturally relevant. While this can boost engagement, experts caution that not all brands should follow suit. Successful integration requires alignment with brand identity and consumer ethos, ensuring authenticity and avoiding the risk of seeming out of touch.

Gen Z is increasingly using Pinterest for shopping inspiration, making it a crucial platform for brands targeting this demographic. Pinterest's user base is growing, with Gen Z being the fastest-growing segment. Brands like American Freight and Bis are leveraging Pinterest's features to boost engagement and sales.

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