McLaren is getting into sneakers for the first time as the British luxury car maker aims to reach more consumers through fashion and streetwear partnerships.
The automaker worked with footwear label Athletic Propulsion Labs on its shoe debut. The limited-edition shoes, called HySpeed, are five-colour trainers infused with design elements from McLaren’s supercars such as its seats and aerodynamics, with a carbon-fibre plate and nitrogen-filled cushioning. Executives said the project started from scratch and has been in development for two years.
At $450, the line is APL’s most expensive to date and will be sold at its Los Angeles store and retailers including luxury online store Net-A-Porter, Italy’s Luisa Via Roma, Pedder Group of Hong Kong and Level Shoes from the United Arab Emirates. .
HySpeed is McLaren’s latest move in fashion to sell buzz-inducing clothing and accessories for the supercar brand. The company has previously partnered with designer labels including Belstaff and Rhude on clothing collections and sells eyewear under the enduring SunGod brand.
“Collaborative licensing relationships are absolutely what we’re trying to do, whether it’s sunglasses, sneakers or streetwear,” said McLaren chief marketing officer Gareth Dunsmore. The push is about “making sure we stay culturally relevant,” he said.
McLaren is going through a rough patch, with demand for its supercars lagging due to the pandemic and delays holding back the launch of its latest model, the Artura. Last month, the company said it raised $150 million from shareholders as cash dwindled. Its shareholders include investment firm Ares Management Corp., Bahrain’s sovereign wealth fund Mumtalakat and Saudi Arabia’s Public Investment Fund.
At the same time, the McLaren name is finding new fans in the vital US market through its Formula 1 team, while the sport gains viewers in North America with more local racing and a hit Netflix Inc. show. prominently featuring McLaren drivers and racing drivers. In July, the team signed a multi-year sponsorship deal with American footwear brand K-Swiss, with products due to hit stores next year.
APL, a celebrity favorite that has attracted stars like Lady Gaga and Chrissy Teigen, rarely does collaborations, but has previously worked with athletic apparel giant Lululemon Inc. for performance shoes. The executives said they plan to extend their agreement with McLaren.
“We have a lot of things planned in the future with them,” said APL co-founder Ryan Goldston. “This is a dream come true for us.”
