By now, most of you are probably familiar with ventura, the French shoe company whose slogan is “a high quality, affordable pair of sneakers with a great value.”
The brand’s “ultra-high quality” sneakers are made in Spain and sold for $250, a price that has increased substantially over the past year.
The company has also grown into a large shoe retailer in China and a fashion powerhouse in the United States.
But the brand is struggling with a lack of demand in the U.S. The problem is not confined to its flagship brands.
According to data from Kantar Retail, sales of the company’s other high-end sneakers, like the Ventura Signature and the Venturae Sport, are dropping.
And even as sales of these sneakers have grown, the company is struggling to compete with new sneaker companies.
“We see the sneaker market as not only becoming more competitive but becoming more diverse and more international,” said Michael Tompkins, director of global marketing at Venturias.
The brand, founded in 1885, has sold more than a billion pairs of shoes worldwide, according to Kantar, which defines “sole-to-sole” sneakers as sneakers with two to four soles.
But its brand has been hit by an economic crisis in recent years.
“The brand’s revenue has been declining for years,” Tompkin said.
“They’ve been struggling to maintain their brand image in an increasingly globalized world.”
The crisis in the industry has pushed many companies out of business.
Last year, the retail industry’s revenue declined for the third year in a row.
“When you look at all the trends in the marketplace and the consumer habits of consumers, there’s a very real threat to the sustainability of the sneakers business,” Toms said.
The recession has also affected the global supply chain for sneakers.
“It has a knock on effect on supply chains, which have to meet their obligations to their suppliers,” Tomps said.
For instance, companies like Vibram are producing more shoes in China, where labor costs are lower and shoes are often produced in sweatshops, than in the European countries that supply the brand.
The lack of manufacturing capacity in China means that Venturas shoes are more expensive to make.
The rise of high-priced, premium sneakers like the Air Jordan XI, which retails for more than $1,000, has led to lower demand in China.
In Europe, there has been an increase in the number of brands selling low-price sneakers and a rise in the availability of cheap sneakers online, Toms added.
“In the United Kingdom, we’re seeing a significant increase in online shoe sales and that has had a very big impact on demand,” he said.
When it comes to the sneaks themselves, Tompaks said the company has always had a commitment to quality and durability.
“If it was not for the supply chain issues, we would have been able to do well in the market,” he added.
But this year, Venturras shoes are becoming less durable, with more than 50% of the shoe’s manufacturing capacity going to overseas factories.
The shoes are also becoming less affordable.
Toms noted that the company had begun to invest more in materials to keep its shoes in better shape, but said he did not expect the cost of materials to increase much.
“I’m not sure how sustainable it is that there are so many factories in China,” he told New York magazine.