From major league endorsements to philanthropic collaborations, catch up on the latest footwear news buzzing on social media.
Toms and Target Collaborate for the Holidays
Toms and Target are teaming up for the holiday season with a limited-edition 50-piece collection. The exclusive line, which will include Tom’s signature slip-ons, home goods, and apparel and accessories for women, men and kids for under $50, will be available in all Target stores in the U.S. and Canada, as well as on Target.com beginning Nov. 16.
The collaboration taps into the holiday giving spirit by taking Toms’ One for One giving back program to a whole new level. Every Toms for Target purchase will result in the donation of a blanket through the American Red Cross or Canadian Red Cross, or one week of meals through Feeding America or Food Banks or Food Banks Canada. For each Toms for Target pair of shoes sold, a pair will be donated to a child in need.
During Target’s annual meeting in Minneapolis on Wednesday, Toms founder Blake Mycoski said, “We’re excited to partner with Target for the holidays and take Toms’ One for One giving model further than ever before.” He added, “Every purchase allows Target’s guests to bring home a beautifully designed product and do good, providing nourishment, warmth and shoes to a person in need.”
Skechers Signs Yankee Legend Mariano Rivera
Less than a year into his retirement from baseball, former New York Yankee closer Mariano Rivera has signed on with Skechers to represent the brand’s Relaxed Fit footwear line. Rivera will star in television commercials airing in Spring 2015—just in time for the start of baseball season.
The “Sandman” joins an esteemed roster of sports icons pitching for the footwear brand, including Pete Rose, Joe Montana and Joe Namath.
Skechers president Michael Greenberg said, “Sports icons have proven to be the perfect match for Relaxed Fit from Skechers.” He added, “As one of the game’s greatest players, Mariano Rivera exemplifies everything about staying cool under pressure. He’s an inspirational star who will have no problem conveying that our comfortable footwear is the ideal way to help you stay relaxed in any situation.”
Jimmy Choo Eyes IPO
Fueled by a growing demand for designer footwear, British luxury shoemaker Jimmy Choo may begin its initial public offering in London as early as this month. According to Bloomberg, the company’s owner, JAB Holdings, could announce plans to sell a 25 percent stake in the company. Jimmy Choo has hired Bank of America to manage the sale and is seeking a $1 billion valuation.
Jimmy Choo co-founder Tamara Mellon, who established the line with the Malaysian shoemaker Choo, sold the company in 2011 to private luxury group Labelux. Choo left the company in 2001. The brand changed hands two more times before JAB acquired the label in 2011.
If Jimmy Choo plans to go ahead with the IPO, it would join a growing—and well-dressed—club of new publicly traded luxury companies, including Salvatore Ferragamo and Brunello Cucinelli.