The Business of Fashion Podcast

Episode: Have Sneakers Lost Their Cool?

Date: January 21, 2026
Host: Sheena Butler Young (Senior Correspondent), Brian Baskin (Executive Editor)
Guest: Mike Sykes (BoF Reporter, Sneaker Expert)

Episode Overview

This episode of The Debrief explores whether the long-running sneaker craze might finally be losing its cultural and commercial dominance. Prompted by a Bank of America report forecasting a downturn in sneaker sales and a dramatic “double downgrade” of Adidas, the conversation interrogates whether sneakers and casualization in fashion have peaked or simply hit a plateau. Correspondent Mike Sykes brings industry data, cultural insight, and historical perspective to the debate, alongside a lightning round evaluating the hottest sneakers of 2026.

Key Discussion Points and Insights

1. The Bank of America Report: Is Sneaker Culture in Decline?

• [00:19] Brian Baskin introduces a Bank of America analysis showing that sneaker sales growth has slowed and hot styles like Adidas Sambas are cooling.
• [01:22] Mike Sykes notes the report caused a stir because it was “the first one in a while...that seemed like it spelled a bit of doom and gloom for the industry.”
  • Quote: “Everyone...has been on pins and needles for the last couple years as Nike has been in its downturn.” (Mike, 01:24)
• [01:59] Sheena points out Adidas’ “double downgrade,” raising industry-wide alarm.

2. Is There a Replacement Trend for Sneakers?

• [03:01] Mike Sykes reflects on the uncertain future: “There’s not really anything that has come in and sort of replaced the sneaker, right?...If there’s no next thing, then how can we really be moving on from the previous thing?”
• [04:43] Sheena and Mike discuss how, despite slowing growth, other indicators—like a Bernstein survey—suggest customers still plan to buy sneakers.

3. Differentiating Financial Reports from Cultural Trends

• [06:31] Brian observes Bank of America is measuring company share prices and expectations, not cultural shifts:
  • Quote: “[That’s] very different than saying, sneakers are over. We’re all going to be wearing...I don’t know. Big red boots, Crocs. I don’t know what it’s going to be.” (Brian, 06:31)

4. Why Sneakers Have Endured

• [08:27] Mike explains two drivers:
  • Accessibility: “It’s an easy trend to follow.”
  • Affordability: Sneakers and sportswear are generally cheaper and easier to style than high-fashion alternatives.
  • Quote: “You can go out and find a cool pair of sneakers...for $100...It’s just more accessible and easier to figure out than some of the more fashionable items out there.” (Mike, 09:17)
• [10:32] Sheena notes external factors—like the pandemic and comfort trends—helped fuel sneakers’ staying power.

5. The Potential Impact of Return to Office Culture

• [11:00] Sheena highlights a growing push for in-office work, which could counteract casual fashion trends.
• [11:45] Mike references historian Elizabeth Semmelhack’s idea that, historically, big cultural shifts could push shoes away from sneakers, but that moment hasn’t materialized yet.

6. What Could Disrupt Sneakers’ Dominance?

• [12:52] For sneakers to be dethroned, “there needs to be a replacement...either Nike or Adidas...puts out a shoe that is exciting and rejuvenates the category, or another footwear category emerges.”
• [13:28] Nike’s success with the React X Rejuvenate (a recovery clog/mule) hints that comfort, not formality, may extend the sneaker-adjacent trend.
  • Quote: “As far as ending the casualization trend, like this is not a shoe that would do that. This is a shoe that would entrench it a bit more, I think.” (Mike, 14:49)

7. The Role of Experimentation and Novelty

• [17:51] Apple-like sales growth in Nike’s non-sneaker footwear (up 5811% on StockX) suggests buyers are experimenting with comfort-driven and alternative silhouettes.
• [20:11] Brian and Mike discuss Zellerfeld’s 3D-printed, multicolored shoes—evidence of innovation and ongoing experimentation, but lacking consensus on what’s next.
  • Quote: “There’s no consensus for what different is. I think people are just in a phase where they’re trying things.” (Mike, 20:39)

8. Upcoming Cultural Moments

• [21:44] The 2026 FIFA World Cup and Winter Olympics are expected to give a new jolt to sneaker brands, especially through collaborations and pop culture tie-ins (e.g., Travis Scott with Nike).
  • Quote: “2026 is going to be a very big year for the industry.” (Mike, 22:14)
• [23:02] The Super Bowl halftime show is flagged as a key platform for potential sneaker or alternative footwear moments.

Lightning Round: Hot or Not? (2026 Sneaker Styles)

[23:25]
Sheena quizzes Mike Sykes on popular sneaker models:

• Adidas Sambas: “Still hot, but it’s cooling.” (Mike, 23:39)
• Onitsuka Tiger: “What’s the opposite of hot? I mean, people like them, but it’s not my bag.” (Mike, 23:52)
• ASICS Gel-1130: “Hot. If I walk outside and go down a city block in D.C. do I see this shoe at all? If the answer is yes, it’s probably hot still.” (Mike, 24:02)
• Nike Air Rift: “That’s hot. Surprisingly hot...Mary Janes had a moment in 2025.” (Mike, 24:35)
• Nike Air Force One: “Always going to be hot. 2026 in particular is going to be a very hot year for the Air Force One.” (Mike, 25:27)

Notable Quotes & Memorable Moments

• “There’s not really anything that has come in and sort of replaced the sneaker.” — Mike Sykes [03:01]
• “If there’s no next thing, then how can we really be moving on from the previous thing?” — Mike Sykes [03:07]
• “From that perspective, Bank of America might be right in saying Adidas can never live up to the hype...but that’s very different than saying sneakers are over.” — Brian Baskin [06:31]
• “You can go out and find a cool pair of sneakers...for $100...it’s just more accessible and easier to figure out than...more fashionable items out there.” — Mike Sykes [09:17]
• “2026 is going to be a very big year for the industry.” — Mike Sykes [22:14]
• “Always going to be hot. 2026 in particular is going to be a very hot year for the Air Force One.” — Mike Sykes [25:27]

Timestamps for Important Segments

• 00:19 – Introduction to the sneaker commodification debate
• 01:14 – Why the Bank of America report stirred the industry
• 03:01 – The search for “the next thing” after sneakers
• 06:31 – The difference between financial and cultural analysis
• 08:27 – Why sneakers endure: access and affordability
• 13:28 – Nike’s React X Rejuvenate and ongoing “casualization”
• 17:51 – Surge in non-sneaker Nike sales (StockX data)
• 20:11 – Zellerfeld’s 3D printed multicolor shoe as footwear experimentation
• 21:44 – Upcoming cultural events: FIFA World Cup, Olympics, Super Bowl Halftime
• 23:25 – Sneaker “Hot or Not” Lightning Round

Conclusion

While Bank of America’s financial outlook signals sneaker brands may face a period of adjustment, the podcast’s hosts and expert guest agree that casualization and sneaker culture aren’t going away any time soon—if anything, they are evolving. With consumers demanding more comfort, affordability, and experimentation, the sneaker’s “cool factor” remains, but the landscape is more complex and diverse than ever.

“If there’s no next thing, then how can we really be moving on from the previous thing?”
— Mike Sykes, [03:07]