It was a year of both wins and losses for the athletic-footwear industry. As companies moved into 2001, many stocks plummeted, sell-through dropped and consumer interest continued to be erratic. But many companies, refusing to drop out of the game, fought back by creating innovative new product and marketing, and entering new categories.
The year started off with a whimper, rather than a bang, with two devastating news bytes that affected the industry: the death of Nike co-founder Bill Bowerman and the bankruptcy of Birmingham, Ala.,-based retail chain Just For Feet, the first athletic superstore. Athletic companies would prove, however, that they were not down for the count.
In January, Puma, Brockton, Mass., launched a line of yoga sportswear with former supermodel and New Age-enthusiast Christy Turlington. Nike, Beaverton, Ore., 'shoxed' the industry this fall with its inventive new performance-shoe technology, Shox. The athletic giant also recently announced it would venture into the ladies' casual market with a line of fashion-casual clothes and shoes.
Others caught on to the women's craze. Stougton, Mass.,-based Reebok and Boston-based New Balance expanded their women's lines, while Santa Fe Springs, Calif.,-based Vans created a line of skate and surf gear for females.
In the burgeoning youth market, a few companies played into Gen Y hands by offering new alternative-sports lines. Early this year, Portland, Ore.,-based Dr. Martens made the bold announcement that it would expand into extreme sports. The news came after the company signed a sponsorship agreement with the Planet Honda pro- motocross team, the only non X-sports company in history to do so.
Other firms targeted youth-oriented extreme sports, some going so far as to create new X-sport hobbies to sell their shoes. Heely, Plano, Texas stirred things up with its 'wheel in the heel' roller shoes, and Soap, Torrance, Calif. made a handsome addition to the San Francisco Museum of Art's modern footwear exhibit with its popular 'sliding' shoe. Airwalk, Golden, Colo., Peabody, Mass.,-based Saucony and Converse, N. Reading, Mass. also won a place at the show.
These strategies seemed to pay off for some. Companies including Vans and Ft. Lauderdale, Fla.,-based The Sports Authority celebrated banner financial years.