The article "The battle of the billionaire shoes" highlights how Loro Piana's Open Walk and Zegna's Triple Stitch have become the footwear of choice for the global elite. The Open Walk, designed by Sergio Loro Piana, originated from his desire for a boat shoe that wouldn't mark a deck and was not cumbersome. After two years of development, including extensive effort to find the perfect white sole, the shoe launched and initially struggled but eventually gained traction, becoming an icon of "quiet luxury." Priced from £890, it's regularly seen on figures like David Beckham and Jeff Bezos, with its low-profile loafer version, the Summer Walk, also popular for island-hopping.
Zegna's Triple Stitch, a sneaker with dress-shoe aspirations designed in 2019 and starting from £780, is characterized by its three cruciform elastic "stitches" replacing laces. This design element has come to symbolize financial success. The shoe has quickly gained an elite following, including Hugh Jackman, Javier Bardem, Nicolas Cage, Rolex CEO Jean-Frédéric Dufour, and Apple's Tim Cook. Its popularity in the C-suite stems from its comfort and understated appeal, with new variants like the Secondskin ($1,310) and Monte ($1,220) continuing to emerge, often in limited quantities to maintain exclusivity.
The success of both shoes is partly attributed to their strategic scarcity. Gildo Zegna, CEO of Zegna, stated they have to limit sales due to high demand and are building a new factory. Loro Piana also reportedly limits distribution, making the Open Walk difficult to find online and in stores. Analyst Simeon Siegel of Guggenheim Partners notes that "scarcity is king" in luxury, where the status a product conveys can outweigh its design. Both shoes exemplify how enduring designs solve practical problems elegantly, creating specific products that customers identify by name, which can significantly boost brand image and revenues. Luisa Loro Piana, co-developer of the Open Walk, observed the widespread presence of white-soled shoes on Milan's Via Montenapoleone, recognizing her and her late husband's pioneering role in this sartorial shift.
