Nike and Tiffany appear to be collaborating to create co-branded footwear.
The sneaker company posted an image to its Instagram account Sunday (Jan. 29) of a light blue — the luxury jeweler’s iconic color — shoebox emblazoned with the Nike swoosh.
“A legendary pair,” read the caption on the photo, which was also shared by Alexandre Arnault, Tiffany’s executive vice president of product and communications, as well as its creative director, Ruba Abu-Nimah.
PYMNTS has reached out to Nike and Tiffany for comment but has not yet received a reply.
While neither brand’s Instagram account offered further information, the website Hypebeast has reportedly seen the forthcoming shoe — which it said is called the “Nike Air Force Low 1” — sharing photos of a black sneaker with a swoosh in Tiffany blue.
The collaboration would mark Tiffany’s first entry into the world of footwear, Women’s Wear Daily reported, although the brand was indirectly involved in a Nike project in 2005.
That was when the sneaker brand unveiled a shoe known as the Tiffany, featuring a silver swoosh against a Tiffany blue backdrop. Now considered a classic, it sells on Sotheby’s website for $3,850.
Nike and Tiffany’s team-up follows news last week that the sneaker giant was taking legal action against a little-known footwear company called Bape, accusing it of copying Nike’s designs in a lawsuit filed in federal court.
“Nike has spent decades building its rights and goodwill in these designs,” the company wrote in the lawsuit. “To protect its hard-earned rights, Nike has a legal obligation to stop copyists when their infringements pose a significant danger to Nike’s rights.”
The collaboration also follows a record year for Tiffany, parent company LVMH said last week, as the luxury brand saw 18% growth in its watches and jewelry business.
Overall, LVMH saw record revenue of 79 billion euros (about $86 billion) last year, despite the impact of China’s COVID-related lockdowns, PYMNTS reported.
“We have every reason to be confident — indeed optimistic — on the Chinese market,” CEO Bernard Arnault said on an earnings webcast. “In Macau, where the Chinese can now travel to, the change is quite spectacular. The stores are full, and it’s really come back at a very strong pace.”
The company’s earnings came within days of reports that LVMH’s market capitalization had reached 400 billion euros (about $431.5 billion) for the first time, solidifying the firm’s position as Europe’s most valuable business and likely giving Arnault an even larger lead as the richest person on Earth.
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