Genesco Inks Footwear License With Wrangler, Coats Is Acquiring Ortholite, Nike's Running Comeback + More

Welcome back to FN, where we break down the biggest stories happening in footwear and retail.

This week, a look inside Nike's running comeback, Coats' deal to acquire premium insole leader OrthoLite Holdings. Plus, Genesco inks a new multiyear licensing agreement with Kontoor Brands to design, source and market men’s, women’s and children’s footwear under the Wrangler brand. Here's what you need to know.

Genesco Inks Footwear License With Wrangler as Levi’s Deal Comes to an End

Genesco is making another big move with its licensing division.

On Tuesday, the Nashville-based footwear company revealed that it inked a new multiyear licensing agreement with Kontoor Brands to design, source and market men’s, women’s and children’s footwear under the Wrangler brand.

The company noted that the agreement is a “strategic move for both companies,” designed to support Wrangler’s growth and development as a cross-category lifestyle brand and leverage and build on Genesco’s extensive branded footwear expertise. Wrangler previous worked with TwistedX for its footwear license.

Rick Higgins, president of Genesco Brands Group, told FN in an interview on Tuesday that the first Wrangler footwear collection from the company is expected to launch for fall 2026 and will feature some classic Western shoe models as well as workwear-inspired silhouettes.

Coats Group to Buy OrthoLite for $770 Million

Coats Group plc wants to expand its positioning as a supplier in footwear components.

The British multinational company inked a deal to acquire premium insole leader OrthoLite Holdings LLC. The transaction, expected to close in the fourth quarter, has an initial enterprise value of $770 million — subject to certain projections such as cost synergies by 2028 and a contingent payment of up to $10 million based on potential EBITDA (earnings before interest, taxes, depreciation and amortization) performance in 2025.

The deal would accelerate Coats’ strategy for its Coats Footwear division to become a “super tier 2” supplier in footwear components through its entrance into the fast-growing open-cell premium insole market. The acquisition include OrthoLite and Cirql.

Ortholite, founded in 1997 by Glenn Barrett, is the global market leader in open-cell foam insoles with a 36 percent market share. The segment is considered to have strong tailwinds for growth due to the open-cell technology’s superior benefits in comfort, performance and sustainability. Ortholite supplies over 500 million pairs of insoles each year to 500 brand customers. It has more than 310 co-branding agreements, as well as a strategically located global footprint of 14 production facilities.

Nike’s Running Comeback: Why Retailers Say It’s Real

Nike chief executive officer Elliott Hill told investors in the company’s fourth-quarter fiscal 2025 conference call last month that the worst is now over.

Net income and sales both declined again in the period, but based on Nike’s “Win Now” actions over the prior 90 days, Hill said: “From here, we expect our business results to improve. It’s time to turn the page.” Investors agreed, with Nike shares closing with a 15 percent increase the following day.

One spot where the numbers are already showing improvement is in running. Nike Running grew by “high single digits” in Q4, and Hill called out the success of the Vomero 18, which has already grown into a $100 million franchise after launching at the end of February.

Three specialty retailers who spoke with Footwear News all agreed: the Nike Running comeback is very much on.

Need more shoe news?

• Santoni Defies Luxury Slowdown With Its 50-year-old Value Proposition
• Tariffs Are Weighing Heavily on the Industry, But Shoe Price Increases Have Been Minimal — So Far
• Converse’s New CEO Aaron Cain Is a 21-Year Nike Veteran

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