The landscape of brands participating in the NBA signature sneaker market is significantly transforming, with KICKS CREW being a key player in this shift. KICKS CREW has witnessed a remarkable 560% increase in Li-Ning's US market share in the past year. This surge in demand is noteworthy, especially considering Li-Ning's signature Way of Wade line has existed for over a decade. As a result of this surge, Li-Ning now holds the second-highest US market share of performance basketball sneakers, trailing only behind industry giant Nike.
Li-Ning's Ascent to Power
The catalyst behind Li-Ning's rise to become a formidable player in the US basketball market can be attributed to the overwhelming demand for the Li-Ning Way of Wade 10 Low ‘Cherry Blossom.’ This sneaker emerged as the best-selling basketball sneaker of 2023 on KICKS CREW. In 2022, only one Li-Ning sneaker, the Way of Wade 10 'Purple Haze,' made it to the Top 5 in US performance basketball sales. However, in 2023, a remarkable shift occurred, with four out of the top five most-sold basketball sneakers being Li-Ning models.
Several factors contribute to Li-Ning's surge in popularity, including NBA star endorsements, innovative designs, and active community engagement at the grassroots level. Ultimately, the on-court performance remains the true testament to a sneaker's popularity.
ANTA and Rigorer: Climbing the Ranks
In tandem with Li-Ning's success, other brands like ANTA and Rigorer have also witnessed substantial growth following their recent signings. After signing NBA star Kyrie Irving in July, ANTA experienced a boost in its monthly market share of US basketball sneakers on KICKS CREW. The signing led to a 600% increase, and with Irving donning the Shock Wave 5 on-court, ANTA's US market share nearly doubled instantly. Irving's impact on the demand for ANTA's Shock Wave 5 has been electrifying, especially considering that just a year ago, three of the top five most-sold basketball sneakers were Nike Kyrie models. All signs point to Irving's first signature sneaker with ANTA being a hit.
Similarly, Rigorer's addition of Austin Reaves has proven successful, fueled by Reaves' involvement with Team USA in the FIBA Basketball World Cup and his impressive performance with the Lakers. In the last 90 days, the Rigorer AR1 Showtime has emerged as one of the Top 5 most popular performance basketball shoes in the US on KICKS CREW.
The Anticipation of New Releases
With 361° recently signing Nikola Jokic and the impending release of the Way of Wade 11, coupled with the highly anticipated debut of Kyrie Irving's first signature sneaker with ANTA, the new momentum in the basketball sneaker market is only beginning. A new wave of brands is undeniably taking over, challenging the dominance of traditional giants and reshaping the dynamics of the industry. As these emerging brands continue to make waves with star endorsements and innovative designs, the future of the NBA signature sneaker market looks promising and full of exciting possibilities.