|
Donna Karan posts up
|
 |
January 15, 1997: 7:28 p.m. ET
Designers move into athletic shoes, but Nike will likely remain champ
From Correspondent Fred Katayama
|
NEW YORK (CNNfn) - For years, shoes like Air Jordans have been the champion of the United States' $7 billion athletic shoe market.
But now a new challenger is stepping onto the court to take on Michael Jordan in a high stakes game of one-on-one: Donna Karan.
The high-profile designer isn't going after the professional hoopsters, but she has just entered the sports arena with her new line of sneakers.
"We want that customer, whether they're on the stairmaster in their living room or going to Club Reebok," said President Anna Bakat of the Donna Karan Shoe Co.
"We'd rather they be in our footwear than Nike, Reebok, or anyone else. There's no question."
Other Seventh Avenue stars will soon check into the game; Calvin Klein with suede sneakers made in Italy and Tommy Hilfiger with basketball shoes made in China.
Analyst Brett Barakett of Salomon Brothers forecasts that in three years the designers will sell $600 million worth of sneakers, grabbing a seven percent share of the athletic footwear market. (148K WAV) or (148K AIFF)
The high fashion shoes will also sport high price tags. DKNY's cross trainers will cost about $125.
 High fashion, high price. DKNY's cross trainers will retail at about $125.
Nike, Reebok, and other performance brands probably don't have to worry about the new entrants, but fashion-oriented brands like Fila and L.A. Gear could take a hit from the designer labels.
Reebok won't be left out of the new game. Its Rockport shoe line signed a deal to make shoes for Ralph Lauren and scouting reports said his line is the one to watch.
Next year, its Polo Sport label will offer a full range of shoes from cycling to snowboarding and the globally-known brand will have a strong teammate in Reebok.
|
|
|
|
|
|
House of Donna Karan
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
