Piper's Teens Speak, Off-White's SoHo Store Closes, John Elliott Seeks Options, Ye's Ex-Malibu Mansion Back On Market
Paid Subscribers: Nike and Kith SoHo store photos
Piper Sandler has released its spring 2025 Taking Stock With Teens Survey. If you look across the shoe and apparel surveys, Nike’s share losses pop out. Part of this is no doubt cyclical as consumers shift out of head-to-toe athletic but some can be attributed to Nike’s own design and marketing-related failings. On the plus side, given improved feedback on Jordan and better signals—however faint (don’t look now but the Rejuven8, a new(!!) silhouette, keeps selling out)—around Nike, this survey could be the marker of a bottom.
Sticking with the shoe chart, another thing that pops out is Ugg’s growing popularity among teen women. I didn’t think there was room in anyone’s closet to add yet another pair of Tasmans, but apparently I was wrong. Conversely, things are not looking good for HeyDude, which dropped out of the top 10 altogether. And while it makes sense that Asics is popping up for young men, it’s odd that Balenciaga and Yeezy are receiving so many mentions. Might some teen males be trolling or perhaps putting in a show of support for Ye?
Off-White has closed its Emp Ty Gallery store in Manhattan’s SoHo neighborhood. Opened in July 2017, it was the label’s 12th store globally and its second store in North America (Toronto came first). Given that the brand is now owned by Bluestar Alliance, a licensor, I’m assuming all doors have closed globally.
As an enduring fan of Off-White designer Virgil Abloh, I of course visited the store not long after it opened and wrote about it on Snobette:
“Upon entry visitors are greeted by the sound of chirping birds, which a sales person said change over the course of the day. The sound of nature is reinforced by the trees and leaves that fill the space, similar to the ones Off White designer Virgil Abloh used as a backdrop for his fall 2017 presentation. The woodland forest is contrasted by industrial shelving and cement floors, all designed by Abloh.
“The register is contained within a small room fronted by a glass partition not unlike a New York subway booth. The dressing rooms are roomy yet minimalist, marked by white walls, a cement floor and nothing more.
“Overall the store feels artful and welcoming, seemingly exuding Abloh’s own engaging personality. It’s noteworthy given New York’s reputation for toughness that Abloh chose to see past its hard exterior and instead focused on its warmth and welcoming nature.”
I know it sounds dramatic, but I feel like we lost so much when Abloh died four years ago. In so many ways he was a narrator of streetwear and sneaker culture, holding a lamp in front of us, shedding light on and commenting on what’s ahead.
Similar to Anthony Bourdain, Abloh was a trusted guide — Virgil through design and brand language, Bourdain through storytelling and travel. They didn’t just change the conversation, they changed who got to have one and It’s hard not to feel the absence of their vision, their voice, their generosity.
San Francisco-born designer John Elliott has run into financial difficulties, having closed three of six stores in Toronto, Aspen, Colorado, and Madison Avenue in Manhattan, according to reporting by WWD, leaving his stores on Lafayette Street in Manhattan’s SoHo neighborhood, Los Angeles’ West Hollywood neighborhood, and Miami.
The Los Angeles-based label may potentially receive a lifeline from Authentic Luxury Group, a newly-formed joint venture combining Saks Global (Saks Fifth Avenue and Neiman Marcus) and Authentic Brands Group, whose aim is to purchase flailing luxury brands. If the deal goes through, John Elliott will be the group’s first acquisition.
Work is being done to restore the mansion in Malibu, California, that Ye dismantled as part of a poorly-executed art project. Now back on the market (listing here), the concrete, beachfront property was designed by award-winning Japanese architect Tadao Ando, who also designed Beyoncé and Shawn “Jay-Z” Carter’s $200 million Malibu mansion.
Listed at $39 million, the property was purchased by Belwood Investments, an entity started by Bo Belmont. Belmont, who—appropriately enough—has his own weird/shady history that includes three years in jail for attempting to murder someone with a pitchfork, told the Los Angeles Times that he’s already invested $2 million into the rebuild, a project that he estimates will require another $6.5 million worth of renovations.
Ye initially purchased the home in 2021 for $57 million. Belmont bought the house from Ye for $21 million last year. Now $2 million into the rebuild, he’s willing to let it go for a mere $39 million, a savings of $18 million.
Tokyo-based Ambush has announced that it’s wrested back control of its brand from New Guards Group (NGG). I mentioned this in a newsletter back in February, but WWD made it official, reporting that “founders Yoon Ahn and Verbal have reacquired full ownership of the company, which joined New Guards Group’s roster in 2020, when it bought a majority stake in the Tokyo-based brand.”
In a statement, the brand said the transaction was finalized on April 11th. Brands that are still held by NGG, according to WWD, include Marcelo Burlon County of Milan, Unravel Project, Heron Preston and Kirin by Peggy Gou, none of which currently appear to be operational.
Adam Selman has left his role as chief design officer at Savage X Fenty to join Victoria’s Secret, where his title will be senior vice president and executive creative director.
This is all a little bit weird because Selman and Savage X Fenty founder Rihanna go way back. When Mel Ottenberg was styling Rihanna fulltime, he often tapped his then boyfriend, Selman, to create custom looks for the Bajan Boss. Famously, he designed the naked Swarovski crystal dress she wore to the 2014 Council of Fashion Designer America Awards.
Then again, money doesn’t just talk it shouts and one has to assume Selman saw a better future at Victoria’s Secret, which is saying a lot given it’s not exactly a high flyer these days. In his Instagram comments, everyone appears to be cheering the news rather than accusing him of being a traitor, so people seem to understand he’s going to a better place.
I have no idea what’s going on, but something is afoot at Savage X Fenty, and that has been the scase since CEO Hillary Super abandoned ship to take over as CEO at Victoria’s Secret in August 2024.
Puma has a new CEO. His name is Arthur Hoeld, who was previously the head of global sales at Adidas. He will start on July 1st, succeeding current CEO Arne Freundt, who is said to be leaving because of "differing views on strategy execution.”
Freundt has been the CEO of Puma since 2022. He replaced Bjørn Gulden, who left to lead Adidas. When Freundt began on November 1st, Puma’s stock was priced at 46.43 euros. The stock closed today at 18.97, a 59% decline. By contrast, when Gulden started at Adidas on January 1, 2023, the stock closed the following day priced at 128 euros. Today it closed at 197 euros, a 54% increase.
The Athlete’s Foot has promoted Matt Lafone to the role of global CEO, effective immediately. Lafone, who was the president and general manager of the Americas, where the chain operates primarily as a franchise model, joined the company in 2021. During his tenure, he oversaw a 45% increase in revenue in the Americas, contributing $272.1 million to the 2024 overall performance.
The Athlete's Foot was acquired by the Switzerland-based Arklyz Group in 2021. The retail division operates 560 stores in 30 countries. Arklyz also owns global licenses or wholesale distribution deals for brands such as Salomon, Crocs, Nordica, Adidas and HeyDude.
Bodega is back in business....sort of. After founder Dan Natola stepped down and the company subsequently fired staff and closed its Los Angeles store (the Boston store closed early last year), founder Jay Gordon told Sneaker Freaker that the retailer was teeter-tottering on shutting the business altogether.
Four days ago, the company posted on Instagram that the Los Angeles store would reopen on April 10th. As of now, the ecommerce site remains in “intermission” mode, which makes sense because one has to assume Bodega is still working through credit-related issues with the distributor that handles its online fulfillment.
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