Wow, that is spectacular downfall. And I have heard from my retail sources that Hoka and On has slowed a lot.
This is perfect storm of economy, fatigue by consumers with same styles and lack of design direction in the industry.
For next round of upswing in the industry, the answer is TIME. And it might take a while and it might have to start level that way lower than now.
And in meantime, there could be a lot more pain including downsizing and layoffs etc.
@Op try all the competitors, lots of similarities in the comfort factor but each on has a different toe/heal width and stack/drop height. Its a buyers market on finding a sneaker that works for your foot. I'd agree saturated and "overarching" (heart a buzz word) they look similar to the consumer and the market. But who has the money or time to try them all out to compare? You have to spend hours reading socials and blogs or spend tons of $$, and not all brands are in same stores.
Barrons Roundtable (14 Aug 2026)
===Streetwise===
"are we seeing sneaker saturation?"
Jack Hugh: ok Andrew, you did not bring your hoka's in; i did not bring my
$40 slip-on skechers. (group chuckles)
you say that these sneakers w/the marshmallowy soles are getting toasted right now.
what's happening?
Andrew Bary: i think maybe you're seeing some saturation in that mkt.
"ON" (ONON) which is the swiss company had an weaker than expected guidance when it reported earnings this past wk
The entire category is over, and the Factories know it already.
No new "silhouettes" will save it, Nike is a walking dead women.
Styles have changed and the game of optimization is over. There isn’t a dominate player right now, regardless of who’s posting on LinkedIn.
Next year will determine who got it right.