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This 16-year-old entrepreneur is making a fortune selling rare sneakers to celebrities


23 sneakers you can wear at the office

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Whether you prefer high tops or low tops, slip ons or lace ups, there’s no shortage of great-looking sneakers available to shop right now. If you’re looking for a pair to wear to work and your office has a laid-back approach to dressing, you’re in luck; we rounded up 23 styles we feel are polished enough to swap with your loafers or oxfords every now and again. Have a look, and see if any of them catch your eye.

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BMW just designed laceless running shoes that use car technology

A science-fiction dream shoe predicted in 1989 will finally go on sale in November

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Nike HyperAdapt 1.0

Nike's HyperAdapt 1.0 self-lacing sneakers will finally go on sale November 28, according to a tweet sent by the company's director of public relations.

According to the tweet, the shoes will only be available at select Nike store locations and will require an appointment for both "experience" and purchase.

There's no confirmation on price, but according to Wired's report on the development, the shoes will not be cheap.

The shoes were first announced by Nike to great fanfare at its innovation conference in March. Nike CEO Mark Parker later went on CNBC to claim that self-lacing sneakers will be as big as self-driving cars in the future, with both mainstream appeal and application.

The first shoe, the HyperAdapt 1.0, will feature the signature adaptive fit, which senses when the wearer's foot is in the shoe using a pressure sensor, and automatically tightens the straps until it senses resistance based on an "algorithmic pressure equation,"according to Wired. Buttons near the tongue of the shoe provide customized adjustment if the shoe feels too tight or too loose.

LED lights on the sole will tell you when the shoe is tightening and low on battery charge. The shoes will need to be charged like a gadget to work. It will take 3 hours to achieve a full charge, which will last two weeks.

The technology took 11 years for Nike to research and develop.

"We're talking about a project that's maybe the most difficult in the history of footwear," Nike VP Tinker Hatfield told Wired.

Self-lacing sneakers first entered the public consciousness in 1989's "Back to the Future II," which featured a futuristic version of self-lacing sneakers called the Nike Mag. Nike produced a few Nike Mag versions for charity, and even sent Michael J. Fox a pair. This is the first time the self-lacing technology will be available in a mass-produced shoe.

 

SEE ALSO: Bonobos just solved a problem every guy has with his gym shorts

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NOW WATCH: This 16-year-old entrepreneur is making a fortune selling rare sneakers to celebrities

Nike has finally given a release date for its 'Back to the Future' inspired self-lacing sneakers

Adidas and Under Armour are challenging Nike like never before

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nike-running-shoes

Nike's competitors are gaining on the athletic apparel giant. 

The brand is facing unprecedented headwinds spurred by Adidas and Under Armour making progress, according to analysts at Morgan Stanley. 

"Adidas' resurgence, Under Armour's basketball gains, and the weak US athletic apparel environment remain headwinds for Nike," the analysts write. 

Nike's earnings per share growth has stalled. Inventories are starting to pile up, indicating that Nike isn't clearing out all the merchandise it is making. 

Meanwhile, Nike's competitors are gaining share. During the Olympics, Adidas and Under Armour shares rose far more than Nike stock. 

While Nike's $30 billion in annual revenues far surpasses Adidas ($18 billion) and Under Armour ($3.96 billion), this chart from Morgan Stanley illustrates how Nike is losing share in footwear and clothing.

morgan stanley nike market shareIn Adidas' most recent quarter, sales soared 21% from the same time a year earlier. 

Adidas has put itself back on the map by reviving its classic Stan Smith, Superstar, and Gazelle sneakers. The buzz around Adidas has resulted in more customers buying the brand's running shoes, too. 

Under Armour is also gaining in the basketball shoe category, thanks to an endorsement from NBA MVP Steph Curry.

The company's net revenue from footwear for the second quarter grew 58% in a year, led by the Steph Curry line.

In addition to making strides in footwear, Adidas and Under Armour are doubling down on apparel investments.

Under Armour hired designer Tim Coppens to craft a luxury athleisure line. Adidas is also launching a new clothing line. 

While both brands have a long way to go before catching up to Nike, it seeems clear they are a growing threat.  

SEE ALSO: How a former lawyer quit his office job to revolutionize how men buy luxury suits

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NOW WATCH: Nike has finally given a release date for its 'Back to the Future' inspired self-lacing sneakers

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You can win a pair of Nike's iconic 'Back to the Future' self-lacing shoes for only $10


Jimmy Kimmel fooled people with ridiculous-looking fake Kanye West Yeezy sneakers

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jimmy kimmel live kanye west yeezy prank

Jimmy Kimmel put the power of celebrity and persuasion to the test when he hit the streets of Los Angeles on his show Tuesday night with a pair of fake Kanye West Yeezy sneakers.

Over the weekend, West's new sneakers for Adidas, the Yeezy Boost 750 "Chocolate," were released. Retailing for $350, the new shoes were going for as much as $1,200 on eBay, according to Kimmel.

Capitalizing on that, "Jimmy Kimmel Live!" passed off a ridiculously styled pair of sneakers it bought for $12.50. The black high-top sneakers, dubbed the "Yeezy Boost 2000" by the show, were dressed up with fake fur and a compass.

"These are very real opinions of very fake Yeezy shoes," Kimmel told his audience on Tuesday's show.

In the clip, several people are very excited to see the shoes. But what's really fascinating is how the interviewer makes suggestions about the shoes' fake features, which the people accept outright.

For example, one young lady is told that the shoe will tighten around her foot if she presses on the compass called "easy squeezy technology."

"I feel it," she said after pumping the compass.

One man agreed that the shoe allowed him to stop on a dime. And another guy was told the laces are edible and he literally ate them up.

Watch Kimmel's Yeezy prank below:

SEE ALSO: http://www.businessinsider.com/e-i-am-cait-kanye-west-sneakers-shoes-2015-7

DON'T MISS: Audio of Kanye West's epic backstage rant at 'SNL' has reportedly surfaced

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NOW WATCH: Kanye West is a legitimate Justin Bieber fan

Sneaker fanatics are driving a massive $1 billion resale market

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Sneakers are a $55 billion global industry. According to sneakerhead data website StockX, the secondary market for rare and limited-release sneakers is estimated to be worth over $1 billion

To understand the world of sneaker collectors — better known as "sneakerheads"— we spoke with those who know it best, including collector Lex Sadler and dealer Jae Tips, top New York City resellers Flight Club and Stadium Goods, as well as SOLEcial Studies teacher Fresco Wilson

Produced by Josh Wolff and Sam Rega

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We finally learned the purpose of that extra shoelace hole on your sneakers

These shoes are given a special coating which means they change colour when hot

People are setting their New Balance sneakers on fire because they think the company endorsed Trump

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People are burning their New Balance sneakers over a statement from the company about President-elect Donald Trump.

On Wednesday, The Wall Street Journal's Sarah Germano tweeted the following quote from Matt LeBretton, New Balance's vice president of public affairs:

Some interpreted this as an endorsement of Trump and turned to social media to express their outrage. Videos showed people throwing New Balance shoes in the trash and setting sneakers on fire. 

LeBretton later clarified to Buzzfeed that the statement was meant to be taken solely in the context of trade, and with relation to the Trans-Pacific Partnership, specifically. He said the company is not interested in “getting involved in the politics of presidential elections.”

The company has publicly opposed the TPP agreement, which would lower tariffs to encourage trade between the US and certain Asian countries. New Balance is one of the few US sneaker companies that still makes its sneakers — around 25% at last count, according to the Wall Street Journal— in the US, though the ratio has dwindled as it has ramped up production in China and Vietnam. 

"As the only major company that still makes athletic shoes in the United States, New Balance has a unique perspective on trade in that we want to make more shoes in the United States, not less," a company spokesperson said in a statement provided to Business Insider on Thursday. "New Balance publicly supported the trade positions of Hillary Clinton, Bernie Sanders and Donald Trump prior to election day that focused on American manufacturing job creation and we continue to support them today."

Nike, which is still by far the world's largest sportswear maker, makes most of its shoes in Vietnam, according to the Wall Street Journal. The company affirmed its support of the TPP in a statement to Germano on Wednesday:

SEE ALSO: Adidas has just hit a huge milestone in its American comeback

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Nike, Under Armour, and Adidas are selling 'dad shoes' — and it seems to be a brilliant move

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White Sneakers

Like most retail companies, Nike, Adidas, and Under Armour frequently trumpet their latest and greatest models.

But don't confuse a sneaker's ability to attract attention with its ability to rake in money. In many cases the shoes that are padding these company's bottom lines are much more humble.

Sneaker sales in the US hit $17.2 billion in 2015, according to industry analyst NPD Group. Part of the secret to that success may be shoes you would never expect to be so popular.

Take, for example, the Nike Air Monarch IV. The $65 sneaker is one of the brand's best-selling shoe by pairs sold, but you won't find the shoe at Nike's trendy 5th Avenue boutique store. It's more likely you'll find the cross-trainer on the more humble shelves of Kohl's, DSW, and JCPenney. It's a favorite of notables like Seattle Seahawks Coach Pete Carroll because of its comfort.

The Air Monarch is frequently referred to as one of the most popular in Nike's portfolio, and was even the top seller of 2013, according to Complex.

"Nike sells millions of pairs [of the Nike Air Monarch]," Matt Powell of NPD Group recently told the Baltimore Sun.

The Air Monarch is by all accounts a boring shoe, meant neither to inspire nor offend. This makes it stand out in terms of the other shoes on the usual lists of bestsellers, including this ranking of the best-selling sneakers of August 2014, where it appears at number seven. But the shoe's mundane design could be precisely what attracts both older customers seeking something comfortable and acceptable, as well as some younger consumers looking to subvert trend-obsessed fashion attitudes. It's a crossover hit, which Racked called"the holy grail."

A photo posted by Tyler Glickman (@t_glick) on

Adidas' Stan Smiths, similarly, have been flying off the shelves for years now. The shoe is distinctive enough that designers, models, and moguls want to be seen with them on their feet, but they're not so outlandish and colorful that the average person would be wary of buying and wearing them.

And indeed they do buy them, as the shoe has sold an estimated 40 million pairs since 1973. 

Stan Smith

Then take NBA MVP Steph Curry's partnership with Under Armour. The "Chef" Curry Two Low was torn apart on Twitter after its debut because of its "boring" appearance.

But the shoes ended up performing very well, selling out in two days even though the shoes are not on limited offer like many of the collaborations that have star power behind them.

Curry

Yes, it's true that more athletic and fashion-oriented sneakers still sell extremely well. Jordan and Nike dominated the best-selling shoes in 2014, and at least seven of the top 10 could be considered to fall in the more fashion-forward bucket. But it's important to remember the unsung sales heroes that often go neglected — these companies could not reach the sales numbers they tout without them.

After all, "boring" is what many shoppers actually want. 

"Quite frankly, we want to make stuff people will wear," Ryan Kuehl, Under Armour's vice president for sports marketing and sponsorships, told Business Insider earlier this year. He explained that Under Armour has found that consumers will generally choose blue, black, gray, or white clothing over another color like green or purple if they have a choice.

The flashier shoes are designed to create a halo effect, enshrining the brands in a holy glow that makes it feel trendy and cool, even if you are buying a sneaker from the discount section of Sears. The halo shoes are the ones that make the headlines and sell out in an hour, but it's the consistent and reliable success of dad-approved shoes like the Air Monarch, Stan Smith, and Chef Curry Two Low that are helping to make these brands real money.

SEE ALSO: Nike's new science fiction-inspired, self-lacing sneakers will cost $720 a pair

DON'T MISS: Adidas and Under Armour are locked in a bitter battle to be Nike's top US competitor — here's who's like

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NOW WATCH: We finally learned the purpose of that extra shoelace hole on your sneakers


Here’s what it’s like inside Sneaker Con — where people spend millions selling and trading sneakers

Adidas just created a futuristic shoe made with a super-strong, biodegradable silk

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Adidas Biosteel

Hot off the trails of launching a sneaker made from ocean plastic, Adidas has debuted a shoe made from a fabric called "Biosteel."

Unveiled at the annual grown fabrics conference Biofabricate in New York City on Thursday, the shoe is called the Adidas Futurecraft Biofabric. It's a high-performance shoe made from a revolutionary kind of fabric.

Based on a replication of natural silk, Biosteel's German manufacturer AMSilk says the material is the strongest fully natural material ever. It's also 15% lighter than conventional silk fibers, and is 100% biodegradable.

The way that translates to this shoe: the woven upper for the shoe is more sustainable than, lighter than, and just as flexible and strong as the more traditional offerings available right now.

Adidas Biosteel

Adidas told Gizmodo the shoe will not decompose off your feet, however. It will only dissolve when put in contact with a high concentration of the digestion enzyme proteinase, which occurs naturally. When done so, the shoe can decompose within 36 hours.

"By using Biosteel fiber in our products, we have achieved an unrivaled level of sustainability," James Carnes, VP of strategy creation at Adidas, said in a statement. "We are moving beyond closed loop and into an infinite loop – or even no loop at all. This is a pioneering stride forward beyond sustainability into a new territory of bionic innovation.”

Adidas says the Biofabric is just the beginning of using Biosteel. The renewable textile will appear in future products by the triple stripe down the line.

Adidas Biosteel

SEE ALSO: Nike, Under Armour, and Adidas are selling 'dad shoes' — and it seems to be a brilliant move

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A huge problem plaguing Nike just hit Under Armour (NKE, UA)

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Under Armour Curry 3

When it comes to sales, it looks like basketball apparel and shoes are no longer the MVP.

Sales of the Curry 3 — the newest shoe in Under Armour's much-lauded collaboration with basketball superstar Steph Curry — are already looking questionable, indicating that some of the trouble Nike is experiencing with basketball shoes has made its way to UA.

Unlike the Curry 1 and Curry 2, the 3 is off to a slow start, according to Foot Locker CEO Dick Johnson.

"The 3.0 is fairly new into the business — it started off a bit slower than the two previous models," Johnson said in a conference call discussing the latest earnings report.

Though Under Armour has been experiencing stellar growth in its newly expanded shoe collection — up 42% last quarter year over year— it seems that a star athlete sponsorship and good product are not enough to stem the tides of trends turning sharply away from performance basketball footwear.

Looking at the tea leaves, UA may have expected this. Nike's basketball category — what most consider a core business for the swoosh, it accounts for roughly 5% of Nike's total sales — was down 1% in wholesale sales for fiscal year 2016.

In the current trend now — retro and lifestyle running — performance basketball is being left behind.  

"We're very much in a retro fashion cycle today," NPD Group analyst Matt Powell told Marketplace. "Millennials are really flocking to wearing old-school looks."

While Nike's Jordan brand, which experienced growth, may seem like an exception to this rule, on closer inspection it is anything but. Jordan wholesale sales grew 18% in 2016 when compared to 2015, but nearly half of Jordan sales — both sneakers and apparel — can be attributed to their retro lifestyle-oriented sneakers, according to Powell.

Adidas, now the number-two sneaker seller in the US, is affected less than Nike and Under Armour by this trend, as basketball accounts for a smaller figure of their overall sneaker sales. But even then, the company admits that "basketball grew at a slower rate," according to the latest earnings report.

SEE ALSO: Nike, Under Armour, and Adidas are selling 'dad shoes' — and it seems to be a brilliant move

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Join the conversation about this story »

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Adidas' new 3D-printed sneaker will cost $333 a pair

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Credit @mervinkaye 1 10

Adidas is making a leap into the future with its new sneaker.

Called the 3D Runner, the shoe is constructed with a webbed, 3D-printed midsole and an outsole structure that is fortified in high-impact areas. Adidas says this allows the shoe to be comfortable, flexible, and durable.

The shoe comes with a Primeknit knitted upper, and it will retail for $333 in a very limited run available Thursday in New York, Tokyo, and London.

Adidas considers this just the first step on the long road for 3D-printed innovation.

"This is just the beginning," Mikal Peveto, senior director of Adidas' Future team, said in a press release. "Creating customized shoes based on an individual's footprint – including their running style, foot shape, performance needs and personal preferences — is a north star for the industry and Adidas is leading with cutting edge innovations."

As Adidas stated last year, the goal for the technology is for customers to be able to walk into an Adidas store, run briefly on a treadmill, and walk out with a custom 3D-printed running shoe.

The shoe would be a flexible copy of the runner's footprint, matching the foot's exact grooves, instep, and contours. Adidas says this will set athletes up for their best running experience ever.

Credit @femsta

SEE ALSO: Adidas has created the 3D-printed running shoe of the future

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NOW WATCH: Sneaker fanatics are driving a massive $1 billion resale market

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