Mark Wahlberg’s Municipal brand has joined forces with P448 parent company StreetTrend on its expansion into shoes.
According to the actor’s sport utility gear brand, the new line will be a collection of “multi-functional performance footwear” that will boast “extreme comfort and innovation.” The shoes will feature M. Float technology, which is based on sandwiching different compound densities on an anatomical baseline last composed of rubber, memory foam, 40 shore EVA and latex. This combined with a wider footbed provides stability and comfort, the company added.
As for the rollout of its new shoes, Municipal said it will launch with one sneaker style in October, with a full collection planned for 2024. The styles will be priced between $175 and $198 and will be available at Municipal.com and through select wholesale partners.
Wahlberg, who made a “significant minority investment” in StreetTrend last year, called the footwear company in a statement “the ideal partner” for Municipal’s expansion into sneakers. “We’ve taken special care to build Municipal in a certain way and we’re getting a lot of traction by fusing cool style with versatility, comfort, and performance that is tailor-made to do something innovative in the category.”
Watch on FN
Wayne Kulkin, executive chairman of StreetTrend, added in a statement that this “unique” business partnership will allow his company to showcase new technologies and comfort innovations that align with Municipal’s reputation. “With an emphasis on the brand’s active lifestyle, innovative reusable packaging and four layers of technology from the footbed to the tread – we are ready to go to market with the best performance sneakers possible,” Kulkin said.
StreetTrend was established in 2017 as a joint venture between Kulkin, the former CEO of Stuart Weitzman, and Jeffrey B. Hecktman, CEO of the international financial services firm Hilco Global.
In 2018, StreetTrend acquired a 30 percent stake in P448. Prior to this deal, Kulkin had signed an exclusive distribution and marketing agreement with P448 in 2017. Then in Oct. 2020, StreetTrend outright bought the made-in-Italy footwear brand from NoThanks SpA for an undisclosed sum.
