The Kicks You Wear: Adidas Rides Its Own Wave

Good morning, friends! Welcome back to the Kicks You Wear. Thanks so much for reading today. Appreciate you giving me a bit of your time. Happy Friday!

Happy Halloween! The holiday is literally 24 hours out (as I’m writing this on Thursday) and I still have yet to come up with a good costume idea. I’m thinking about being Mr. Johnson from Abbott Elementary? We’re both bald. I think it can work. But if y’all have any other ideas, please help. I’m begging.

Let’s dive into the newsletter and stop talking about my sad social life.

Enter the Squid

Replicating designs is a strategy that’s typically frowned upon in the fashion world, but it also happens a lot. Brands and products are knocked off all the time across the industry — especially in the footwear sector.

Yes, but: Is copying still an issue if a brand is copying itself? That question has resurfaced over the last week.

What’s happening: A takedown version of the Adidas Jellyfish surfaced at ComplexCon last weekend. Upscale Vandal, one of the hosts of the convention’s headlining Sneaker of the Year panel, debuted the Adidas Squid on stage at the event.

The backdrop: A takedown of a shoe is essentially a recreation of that shoe with a few tweaks here and there that slightly differentiate it from the original model. It’s typically more available and more affordable.

• In the case of the Squid, it looks like the Jellyfish without Pharrell’s branding on the tongue and some of the embellishments on the upper.
• The shoe is reportedly set to retail at $150 and is scheduled to release in early 2026.

Everyone seems to have an opinion on this shoe, whether they’re simply sneakerheads and fans of the original silhouette or industry creatives and critics. Their opinions range from being fine with this shoe existing to resenting the fact that Adidas would create something like this in the first place.

• Folks who believe the former think it’s good for people to have access to a model comparable to one of Adidas’ best in years.
• Those who believe the latter think that the Squid is stepping on all the momentum the Jellyfish has built.

Why this matters: The Jellyfish has arguably been the most talked-about sneaker of 2025. It’s Adidas’ biggest hit post-Yeezy and has become one of the white whale sneakers that generate the buzz and hype every brand is looking for. Another pair released in a blue colorway last weekend at ComplexCon and it’s already reselling at triple its retail price.

That’s what Adidas should want the conversation surrounding this shoe to be, but the introduction of the Squid completely shifts it. Instead of talking about how great the shoe is, people are fixated on a lesser model that isn’t even out yet.

The question is whether they actually should be. Is this really a problem for Adidas? To me, the answer is no. It’s the furthest thing from it.

Be smart: Dupes and takedown models — especially in the sneaker space — have been around for decades.

• The takedown tactic was a popular one in the 1990s, particularly with Nike’s basketball models. Many designs were transformed into more affordable pieces for under $100.
• I can guarantee you that every brand that you love has done some variation fo this, whether it be Nike, Adidas, Puma, New Balance or someone else. You wouldn’t even have to do much digging in the archive to find an example.

There’s no evidence to suggest that this strategy is dampening sales or momentum. I can actually point to the opposite. Adidas copied Yeezy for a long time when the brand was under its umbrella and that didn’t stop the brand from being successful — West did that himself.

The other side: Maybe there’s an argument to be made that Adidas is pulling out the Squid too soon. The Jellyfish will have been out for less than a year before the Squid gets released, if the timeline of early 2026 holds up. Even then, it’s still not that much of a problem to me.

The bottom line: No matter which version of the sneaker people buy, Adidas is still winning in the end. And if Pharrell, himself, isn’t making any noise about the takedown, then I don’t see any reason the rest of us should.

The Tough Road Ahead for Puma

Every time you think the state of play can’t get any worse for Puma, things just seem to find a way to escalate.

What’s new: The company held its third-quarter earnings call on Thursday morning and it was filled with bad news.

• After mostly flat numbers in the first half of 2025, the company’s sales decreased by 10.4 percent to €1.96 billion ($2.23 billion) for the quarter.
• The company’s sales decreased in every single one of its main regions.
• Puma plans to cut 900 jobs globally by the end of 2026 on top of the 500 it’s already cut in 2025.

These are not good signs, but company CEO Arthur Hoeldt said the dip here can be explained.

What’s happening: Hoeldt said the company is seeing declines as a result of its plan to establish itself as a top-three sportswear brand.

• The brand is focusing on cutting down on what it calls “undesirable” wholesale mass merchants that sell high volumes of Puma products at low prices.
• It’s focusing on growing business in its direct-to-consumer options online and in stores by cutting promotions and selling items at full price.
• On that note, it’s DTC business increased by 4.5 percent.

My take: While I understand that these numbers don’t look good, it’s important to remember where Puma is coming from. The brand has been stagnant for a while. We’re only a few months removed from the Pinault family contemplating selling off its stake. That’s obviously not a great spot to be in.

What we’re seeing here is the company taking a step back in 2025 to build a new foundation for 2026 that might eventually lead to profitability in 2027. Whether that actually happens remains to be seen, but no one could’ve expected the brand to fully turn its woes around this quickly.

The silver lining: Within the call, the brand pulled out a few wins. The Speedcat model performed well in the third quarter — particularly in the Asia-Pacific region. The Hali 1 and Velocity Nitro 4 runner performed well, too.

Those styles didn’t fully offset any declines for the brand. But, at the very least, Puma is left with something to build on. The brand should take that and run with it.

Veneda Carter’s New Nikes

Designer and stylist Veneda Carter posted photos mirror selfies of her wearing Nike’s upcoming GT Future sneakers on Instagram.

The backdrop: The GT Future has been one of the most highly anticipated Nike releases since photos of the shoe first surfaced last year.

• We first saw hip-hop artist Wale in pairs of the Future around the NBA All-Star game in February.
• Nike did a reveal on the SNKRS app for the shoes in July, dishing out more detail about the brand’s newest model.

Why this matters: These photos caught me by surprise. It isn’t strange to see Carter in Nike — she was one of the first to do a collaboration with the brand on the Air Max Muse earlier in 2025. But the Muse is more of a lifestyle shoe. It’s something that feels like it’s more up her alley.

While the GT Future might look awesome, it’s a performance basketball shoe. That’s certainly not something I expected to see on Carter.

Yes, but: I think that’s also what makes this so brilliant.

• It’s very clear that, while this is a performance shoe, Nike wants to present it as something viable both on and off the court.
• Wale rocked them earlier this year with more of a streetwear look. Here’s Carter, doing the same here with her more chic look.

These photos are a showcase in versatility. For my money, it’s a pretty good one.

The WNBA Takes Over Glamour Mag

I never thought I’d be reading Glamour magazine to hear about labor negotiations. Yet, here we are.

What’s new: Five WNBA superstars appeared in Glamour Magazine this week in a cover story written by Emily Tannenbaum. The list included:

• The Minnesota Lynx’s Napheesa Collier
• The New York Liberty’s Jonquel Jones and Nyara Sabally
• The Indiana Fever’s Lexie Hull
• The Phoenix Mercury’s Satou Sabally

The main talking point: The league’s collective bargaining agreement. The stars kept harping on it. The piece was a deep dive into the business dealings of these women and why they deserve to be paid by their league like the elite athletes they are. The piece is totally worth your time.

My takeaway: As I kept reading, though, I couldn’t stop thinking about the league’s relationship to fashion and beauty and how this space has turned into a legitimate platform for the league’s biggest stars.

• I couldn’t see an article like this being written 10 years ago about Diana Taurasi or even five years ago about Maya Moore.

The other side: That’s turned out to be a bit of a double-edged sword. While players are (rightfully) asking for a better revenue share percentage, the WNBA itself is pointing to the new opportunities and spotlight the players have and using it as a way to justify the current state of the business.

On one hand, it’s amazing to see how far things have come for the WNBA and women’s sports in general. On the other, it’s also a bit disappointing to see how much further we have left to go, considering the state of the negotiations.

As a fan of the game, I hope it can keep growing so we can continue to see these amazing athletes hold onto this spotlight.

#TheKicksWeWear

This is the community section of the newsletter where you (Yes, you!!!!) send me your best fits and kicks from the week. Feel free to send submissions to michael.sykes@businessoffashion.com or shoot me a message via social channels @MikeDSykes.

LET’S DO IT.

First, the homie Jaden got us started with these classic Cement 3s. What a shot.

Next, the homie Rick Dubb followed up with the Pegasus Premium. I can vouch for these. They’re really good.

Then we got into our Halloween bag. The homie Patrick brought back the Candy Corn Dunks. What a pair.

The homie Freezelle decided to get spooky with it and brought out the Frankenstein Dunks. Fantastic pair.

Then the homie Lean Joe Green took us home with these Halloween Vans. WHAT A PAIR. The materials are so nice. Vans has a great bag, folks.

That’s a wrap. Great work, people.

Thanks for reading, gang! Hope you enjoyed the newsletter.

If you have any questions, comments or concerns, reach out to me via email at michael.sykes@businessoffashion.com or shoot me a message @MikeDSykes via socials.

Peace and love. Be safe, be easy, be kind. We out.

-Sykes 💯