North Carolina鈥檚 VF Corporation has bought running-shoe brand Altra. Tuesday's聽聽was scant on specifics, with no indication of聽the sale price or聽VF鈥檚 plans for the company. More information will be available in April, when the acquisition is set to be finalized.聽
For Altra, a company in the kitchen of one of its founders, the move is聽indicative聽of astronomical growth over the past decade. In 2008, marathon wunderkind Golden Harper began melting shoes in a toaster oven and cutting聽excess midsole foam from the heel, believing that a flatter聽midsole would help alleviate running injuries. It did, and demand for Harper鈥檚 famous 鈥渮ero drop鈥 shoes grew quickly, first in his home state of Utah, then nationwide.
In 2011, Altra聽was acquired by Utah鈥檚聽Icon Fitness and distributed throughout North America. Business skyrocketed, with 300 percent聽聽in 2013 alone. These days聽a visit to the start line of any trail race or ultramarathon聽is likely to turn up dozens of runners wearing聽the recognizably聽wide-toe-boxed shoes. What might the acquisition mean for Altra?聽A聽company spokesperson says that Harper and cofounder Brian Beckstead will remain on as VF employees. (The duo have been at the helm of Altra since it was founded聽a decade ago.)聽As for which products聽it makes, and how those products are marketed鈥攖hat鈥檚 a different story.聽
VF owns the North Face, which also makes running shoes. With both brands聽under the same umbrella, they could be forced to alter the products they manufacture or the聽consumers they target to avoid competing with one another. Similar concerns arose in December,聽when VF聽bought聽wool-apparel brand Icebreaker. VF also owns Smartwool, and at the time of the purchase聽a VF spokesperson said that consumers would probably notice a shift in one or both brands at some point. So far聽there have been no major changes, but聽only聽a few months have passed.
Matt Powell, an outdoor-industry analyst for NDP, says that he expects both Altra and the North Face聽to be聽unaffected. 鈥淭rail running is a tiny business in the U.S.,鈥 he聽says. 鈥淚 don鈥檛 see this acquisition impacting North Face footwear in any material way. Altra was already on a great trajectory, and that should continue.鈥
VF聽was unable to comment on anything beyond its initial press release but said that聽information would be forthcoming once聽the acquisition is finalized.聽