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Good morning, friends! Welcome back to The Kicks You Wear. Thanks so much for reading. Appreciate you spending some time with me this morning. Hope you had a great weekend.
If you’re in the US, I hope your Labor Day was great. Does this mean summer is technically over? Please say no.
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Let’s jump in.
Water Under the Bridge
After three long years of litigation, Nike and StockX’s legal battle is finally over.
What happened: The two parties have officially settled things in court, according to a filing submitted to the Southern District of New York on Friday. Now, the case goes away forever. The settlement agreement was filed with prejudice, so neither party can revisit this matter. They’ll each foot the bill for their own attorney’s fees. Everybody can go back to their corners now.
The background: This lawsuit gives real Hatfield vs. McCoy vibes. It’s hard to remember precisely what Nike and StockX were arguing about because of how convoluted the lawsuit became.
Remember, this all started over StockX’s Vault NFT program.
- StockX launched a vault NFT program, which connected the ownership of digital tokens to physical products stored in a vault.
- Nike sued StockX, saying the company infringed on its trademark rights by using images of its footwear for the company’s NFTs.
- StockX’s claimed its NFTs were used as part of its authentication process.
- Nike then alleged that StockX sold pairs of counterfeit Nike sneakers, undermining StockX’s authenticity claim. The company was found liable for selling 37 pairs of counterfeit shoes on its platform.
That was all leading up to the trial, which was scheduled to begin on October 14. Things were only going to get messier from here. With this settlement, that mess is avoided.
A point of contrast: Cases like these have emerged in recent years as secondary marketplaces have grown.
They broach important questions such as what constitutes fair use and how much control brands should have over their products after they’re sold. These cases can take several years to litigate. For example, Chanel sued The RealReal in 2018 for trademark infringement and false association, among other things. That case is still ongoing seven years later.
My thoughts: This case between Nike and StockX could’ve followed the same path, but it always felt like one that would eventually be settled. Things became murky as both companies made drastic changes throughout this three-year window.
- Both Nike and StockX have changed CEOs. StockX co-founder Greg Schwartz replaced Scott Cutler in November 2024. Elliott Hill replaced John Donahoe at Nike in October 2024.
- Nike had to replace two key witnesses in Ron Faris, its former virtual studios leader, and Melanie Harris, its former vice president and GM, who both left the company.
- Neither company seems to care all that much about NFTs anymore, which was the subject at the center of this case. StockX doesn’t really promote its vault program and Nike cut ties with RTFKT, the digital creative company that worked on its virtual collectibles.
It would’ve been a waste of time and money for both sides to keep things going.
The big picture: It was a significant development when Nike decided to file this case in 2022. It can’t be understated how huge of a deal this was. This was the biggest sportswear brand in the world, suing the leading company in the secondary market at a time when it was a huge driver for the footwear industry.
While this settlement doesn’t guarantee that Nike and StockX will go back to working closely together again, it’s certainly something that feels like it could be on the table after such an amicable split.
Officially Together
September will be a month of mergers in the sportswear world. Two massive deals still pending are on the verge of being made official in the coming weeks.
- First: Dick’s Sporting Goods’ big merger with Foot Locker is expected to close on Sept. 8, according to the company.
- The merger is still in the midst of a legally mandated waiting period requiring larger mergers to file notifications with the Federal Trade Commission and the Department of Justice.
- Second: Skechers and 3G Capital are expected to officially join forces on Sept. 12, following a California district court judge’s approval.
- The merger was already approved legally. The only pushback it faced in the interim was from an investor, who attempted to block the company’s move to go private.
- With that lawsuit out of the way, the path is now clear for Skechers to move forward.
Why this matters: The path is clear for two massive companies in sportswear to grow even larger — particularly on the part of Dick’s Sporting Goods. It’s merger with Foot Locker will expand its global footprint with the addition of thousands of stores and more access to leading companies in the industry like Nike and Adidas.
For Skechers and 3G, we can expect an official private shift. The company has been publicly traded on the New York Stock Exchange since 1999. The private equity firm is known for aggressively cutting costs and turning a profit. However, it’s fair to question what Skechers’ market share might look like if 3G chooses to cut from essential categories like innovation and marketing.
Jerry Lorenzo Taps Hype Williams
It’s always cool to me when streetwear and fashion tap back into the roots of hip-hop and culture that made it all cool in the first place. That’s why I’m really digging the marketing video for Jerry Lorenzo’s Fall 2025 campaign for Fear of God.
What’s happening: Lorenzo tapped legendary film and music video director Harold “Hype” Williams for the marketing campaign.
- The way the campaign was shot makes it look like something that came straight out of Williams’ “Belly” film from 1998.
- Lorenzo also had longtime hip-hop producer Swizz Beatz guiding the creative direction for the campaign’s music.
For those who are unfamiliar, Williams is one of the most critically acclaimed video producers in hip-hop. He’s worked with the biggest artists in the industry since the 1990s, including names like Jay-Z, Beyoncé, LL Cool J, DMX, Nas, Missy Elliott and more. When it comes to artistic direction in the space, there aren’t too many people on his level.
This is awesome. I can’t say that Lorenzo working with Williams here is something I’d ever expected to happen. Honestly, it feels a bit off-brand for Fear of God. I mean that in a good way.
- Fear of God’s aesthetic has always been very calm, from its earthy, monotone color palette to the straight-lined garments in FOG collections.
- Hype Williams’ aesthetics have always been the opposite. His work is loud and flashy. He uses different colors and tones to draw your attention.
Involving Williams is a very deliberate choice from Lorenzo. It’s him presenting Fear of God in a way that we typically don’t see. Anytime a brand deviates from its roots, it can be a risky endeavor. But I think the presentation works here.
NBA 2K Taps Luxury
It’s always interesting to see which brands show up in the NBA 2k series.
I’ve been playing this video game since NBA 2k3 was released in 2003 with Allen Iverson on the cover. We’re on NBA 2k26 now and, yes, I’m still locked in.
Where we’re at: As the game has continued to grow in popularity, more brands have entered the space to put their products in front of the consumers they’re targeting — albeit virtually.
- It usually includes your typical sportswear brands like Nike, Adidas, Puma and the like.
- In recent years, more streetwear brands have been included as well. Off-White, Vandy the Pink, Drake’s OVO label, Anti-Social Social Club.
What’s interesting: This year, for the first time, the game includes a luxury brand. There’s a Coach store in NBA 2k26 where you can buy virtual Coach products for your avatar in the game. That includes the Coach Soho sneaker.
Coach, like many other brands in the fashion world, has been reaching out to customers through sports with interesting partnerships. But in a video game? Like this? I never thought I’d see the day. I mean, Coach and State Farm Insurance (Yes, I’m serious) are in the same game right now. That’s wild, guys.
Whatever, though. Those Soho sneakers look great on my player.
What’s droppin’, bruh?
This is a dedicated section detailing upcoming sneaker releases for the week, and sometimes other interesting drops I think you might care about.
That’s a wrap, gang. Thanks so much for reading today. Have a great week.
If you have any questions, comments or concerns, feel free to hit me at michael.sykes@businessoffashion.com or tap me on the socials @mikedsykes.
Until next time. Peace and love. Be safe, be easy, be kind. We out.
-Sykes 💯