StreetTrend LLC acquires European sneaker brand P448

Footwear brand portfolio holding company StreetTrend LLC has acquired European based sneaker brand P448.

StreetTrend bought the company from Italy-headquartered NoThanks SpA, and will call the new consolidated entity P448 SpA.

“Everyone is saying wholesale is dead - wholesale is not dead but it's evolving,” StreetTrend CEO Wayne Kulkin said in a statement. “The wholesale to DTC penetration will now move more towards a 70/30 percent split DTC to wholesale. This is the new reality.”

The P448 brand saw an 800 percent increase on its digital channels in the first half of the year, accelerated by the pandemic.

Photo credit: P448