Mark Wahlberg became a strategic investor in StreetTrend, a footwear and apparel company, which includes the P448 sneaker brand, having taken a significant minority financial stake in the business.
“I am very excited to have Mark as a partner and love his view on life. Besides his successes in entertainment, he is a brilliant entrepreneur and an engaged investor. We look forward to collaborating with Mark as we continue to grow the business” Wayne Kulkin, CEO of StreetTrend, said.
Wahlberg joins the two original investment partners who launched StreetTrend in 2017 – founder and CEO Wayne Kulkin (formerly CEO of Stuart Weitzman) and the international financial services firm Hilco Global, a longtime brand investor run by Jeffrey B. Hecktman, CEO and founder. In 2020, Karen Katz was added to the team as non-executive chairman of the StreetTrend Board. Katz previously served as president and CEO of Neiman Marcus Group and has since been seated on several boards, including Under Armour and Humana.
Wahlberg adds StreetTrend and its P448 brand to his growing list of business ventures and brand investments. These include a clothing line, Municipal, a tequila company, Flecha Azul, a fitness chain, F45, a restaurant chain, Wahlburgers and his film production company, Unrealistic Ideas.
“I am excited to be a part of such a unique brand that fits my personal style and cares about sustainability,” Wahlberg said. “CEO Wayne Kulkin is a passionate and knowledgeable sneakerhead, and I look forward to being part of this project.”
During the pandemic, the company grew by 150%. Management indicated that wholesale remains a major focus of the overall business strategy, with very strong growth at independent retailers around the world, and at major department stores such as Nordstrom, Bloomingdales, Holt Renfrew, La Rinascente and Printemps.
“With the addition of Mark Wahlberg to our investment team we are adding another like-minded entrepreneur and creative visionary to our leadership group which I am certain will help further accelerate our incredible growth to date.” Jeff Hecktman, CEO of Hilco, said. “Hilco has made significant investments in dozens of global brands over the years, and we appreciate outstanding operators, entrepreneurs and business leaders like Wayne Kulkin and Mark Wahlberg.”
