The market for premium sports and leisure footwear is going through an extremely interesting phase. While large corporations such as Nike and Adidas are trying to find the balance between margins and growth again after the pandemic cycle, one of the American brand groups has come into the spotlight of analysts. Thanks to a combination of innovative technology and a growing share of direct sales, it is becoming one of the most profitable players in the sector.

Investors have long viewed the company as a stable shoe manufacturer with a seasonal character. This is no longer the case. Today, it is a dynamic company that has managed to transform its brands into global phenomena and build a growth model combining premium pricing, low debt and exceptional return on capital. Yet the market still does not realise the full extent of the change that is taking place - and this is where analysts see room for significant revaluation.

According to a new UBS analysis, the value of the stock could rise…