Across the internet, people are torching their tennis shoes. The burning rubber comes after New Balance offered their endorsement of president-elect Donald Trump. But while it makes for an interesting political statement, it's not exactly sustainable.
Well off millennials can trash a $150-dollar shoe to protest democratic election this time. But they better take stock of their personal belongings because the Trump effect is just starting. The businessman said he's prepared to make deals and manufacturers are taking him at his word.
The mercantilist Republican promised to level the playing field with retaliatory tariffs and protectionist policies. That could throw global markets off balance and it explains the origin of the sudden footgear protest.
New Balance has been locked in a street fight with Nike for market share. The sneaker company is trying to transition from a casual shoe into athletic gear. But so far they've been unable to gain traction against the world's largest sportswear company. And any additional international competition could solidify their beta status.