From 'It' item to steady staple: The evolving role of designer sneakers in luxury fashion

Designer sneakers were once the holy grail of luxury fashion, with coveted styles from the likes of Balenciaga, Louis Vuitton, and McQueen driving huge sales and massive buzz. These high-priced, statement-making shoes weren't just about functionality—they were status symbols, signaling fashion-forward thinking and exclusivity. But as tastes evolve and consumer priorities shift, the once unassailable dominance of designer sneakers is now being challenged.

According to a report by Lei Takanashi for The Business of Fashion (BoF), while brands like Louis Vuitton, Dsquared2, and Balenciaga continue to unveil new sneaker models, the buzz around them has significantly diminished in recent years.

Once a cornerstone of streetwear and luxury collaborations, designer sneakers are no longer the ‘it’ item they once were. Sales of these high-end shoes have softened, especially in the United States, where stretched consumers are increasingly opting for more affordable and practical options from sportswear giants like Nike and Adidas.

Tiffany Hsu, Chief Buying Officer at Mytheresa, notes that while the demand for luxury sneakers remains stable in markets outside the US, the fervor that once accompanied every new sneaker release has cooled. "A couple of years ago, every big brand had an 'it sneaker' that drove massive business," Hsu says. "In recent years, it’s become less apparent."

The rise of streetwear in the late 2010s helped fuel the sneaker boom. High-end fashion houses capitalized on this movement, creating luxurious, trendy shoes that appealed to young, fashion-conscious consumers. Iconic models like Balenciaga's Triple S, McQueen's Oversized Sneakers, and Louis Vuitton’s LV Trainer became symbols of style and exclusivity. However, sneaker drop fatigue, combined with a broader shift towards minimalist, low-profile styles, has made the market less dynamic.

Retailers are adapting. Vincenzo Troia, Managing Director of luxury Italian e-retailer Giglio.com, observes that while the sneaker category no longer drives the same level of excitement, it still plays a crucial role in attracting shoppers. Sneakers now serve as an entry point for those seeking casual luxury, but they are no longer the centerpiece of luxury brands' footwear offerings. "Sneakers make up more than 50% of our footwear revenue," says Troia, underscoring the category's importance despite the shifting trend.

The rise of functional collaborations

As demand wanes for flashy, logo-heavy designs, luxury brands are taking a more collaborative and functional approach. Partnerships between high-end labels and sportswear brands are increasingly becoming the solution. Miu Miu’s collaboration with New Balance, for example, sold out within seconds, while Loewe's collaboration with On has become a major component of their footwear business. These collaborations bring together fashion and performance, offering consumers functional yet stylish sneakers.

As BoF reports, luxury brands are gravitating toward quieter, more refined designs that fit into the ongoing trend of “quiet luxury.” Consumers are now gravitating toward low-profile, versatile sneakers, with neutral or earthy tones dominating the market. Brands like Saint Laurent, Zegna, and Tod’s have embraced this shift, moving away from eye-catching, attention-grabbing designs in favor of understated elegance.

While the resale market for luxury sneakers has slowed, with many sneakers selling for less than their retail price, collaborations still generate buzz. Exclusive limited-edition releases, like those from Louis Vuitton and Nike, continue to command high premiums on the secondary market. However, the mass-market fatigue surrounding sneaker collaborations may lead brands to rethink how they engage with the trend moving forward.

A new era for sneakers in luxury fashion

As highlighted by Takanashi’s report for BoF, while designer sneakers may have lost their status as a must-have luxury item, they are far from dead. Instead, they are finding their place as a steady part of the luxury offering, continuing to serve as a gateway for casual luxury shoppers. With collaborations and a focus on functionality, luxury sneakers may not command the same level of hype as they once did, but they still play a significant role in the evolving landscape of fashion. As the market shifts, it's clear that the sneaker trend is adapting, and luxury brands will continue to find innovative ways to stay relevant.

The evolving role of luxury sneakers also mirrors trends seen in the Philippine fashion scene. While high-end sneaker culture still has a strong following in major cities like Manila, where streetwear and luxury collaborations have a strong foothold, there is also growing interest in more functional and affordable options. The shift toward minimalistic and low-profile sneakers is being embraced by fashion-conscious Filipinos, with brands such as Nike and Adidas leading the charge.

Comfort has also become a key consideration, with consumers prioritizing ease of wear alongside style. As collaborations between luxury and sportswear brands continue to make waves, we may see a rise in local demand for unique, stylish yet practical footwear that caters to both fashion and function.