British supercar manufacturer and Formula One team McLaren Group is getting into the sneaker game to drive additional revenue streams after it suffered financial turmoil during the virus pandemic.
McLaren's new running trainers, called "HySpeed," are constructed with design elements from its supercars like carbon fiber and nitrogen-infused cushioning, according to Bloomberg.
HySpeed will be sold under the Athletic Propulsion Labs (APL) brand, selling for a whopping $450, and offered at APL's store in Los Angeles and various other high-end retailers online.
The HySpeed is McLaren's latest move into the fashion industry to develop new revenue streams following a restructuring in 2020, which included a layoff of 25% of its workforce and, more recently, funding injections as cash dwindled.
McLaren Racing CEO Zak Brown recently made it clear the company is now on stable footing financially.
APL's athletic shoes have been a favorite among celebrities, including Khloe Kardashian, Lady Gaga, and Chrissy Teigen, which could propel the shoes into the spotlight with social media.
"We have a lot of things planned in the future with them," APL co-founder Ryan Goldston said. "This is a dream come true for us."
And there it is, the birth of McLaren's diversification into fashion...