The Italian sneaker brand is looking to open nearly 20 stores around the globe next year.
P448 is ending 2023 on an artistic note via its latest shoe release.
The Italian footwear brand has tapped 96-year-old American figurative artist Alex Katz to co-create a limited-edition sneaker for the ultimate art collector.
Inspired by the world-famous artist’s deep connection to satin and the way the material absorbs light, the new P448 x Alex Katz sneaker was designed to be worn at more formal occasions.
According to Katz, the concept of the all-over satin model was to create a sneaker that would take the place of a slipper-like dress shoe that’s typically worn with tuxedos or suits. “I wanted a sneaker that would be more fashionable than a [dress] shoe,” Katz told FN. “That was the challenge of the project, to make the sneaker into a loafer. A shoe you could just slide into.”
Katz also made sure cotton laces are included within the art-inspired packaging – a mini shoebox-sized art shipping crate. What’s more, each shoe is hand-stitched with the artist’s signature and is numbered to showcase its exclusivity.
Available in unisex sizes in two colorways, the P448 x Alex Katz sneaker is priced much higher than the shoe brand’s typical price points. The blue satin silhouette retails for $3,000 and will be made in only 100 pairs, while the black satin silhouette retails for $7,000 and will be made in 25 pairs. All net profits from the sale will be donated to Katz’s alma mater, Cooper Union School of Art.
For Wayne Kulkin, executive chairman of P448 parent company StreetTrend, collaborating with Katz was both rewarding and challenging. “This was not an easy project,” Kulkin told FN. “We wanted to be sure we could satisfy Alex’s vision for our collab. This is why these shoes were made in the singular best footwear factory in the world – an Italian manufacturer that makes shoes for labels within LVMH and Kering.”
But the fact that he was able to be in the presence of someone so accomplished in the art world was almost overwhelming for Kulkin. “Ultimately, we had a blast, though,” the executive said.
Asked to reflect on business over the last year, Kulkin noted that the company has grown double digits in 2023, up between 16 percent and 20 percent from last year. “We’ve done this while controlling our prices, creating jobs and continuing to produce in Europe,” Kulkin said. “We’ve also made great advancements in our regenerative sustainability program, where we are using leathers made from invasive species on select shoes, and we’re also studying how to transform trash into materials in an energy efficient way.”
Looking ahead into 2024, Kulkin added that the company is set to open approximately 20 stores around the globe next year — in cities like Los Angeles, London, Berlin, Copenhagen and Madrid. “We rather do a little business in a lot of places versus being so geo-centric to America,” Kulkin said. “We’ve also recently made some deals for a partnership in China. That’s especially exciting since it’s so difficult to expand in that region. Aside from that, we will also be opening a web store in China as well as in South Korea next year.”
