StreetTrend, LLC, which owns the P448 sneaker brand, announced that actor, producer and businessman Mark Wahlberg had made a significant minority investment in the company. The terms of the deal were not disclosed.

Wahlberg joined the two original investment partners who launched StreetTrend, LLC 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 appointed a non-executive chairman of StreetTrend’s Board. Katz previously served as president & CEO of Neiman Marcus Group Ltd., LLC and has since been seated on several boards, including Under Armour and Humana.

Wahlberg adds StreetTrend, LLC and its P448 brand to his growing business ventures and brand investments list, which includes:

  • Fitness chain F45, which went public on July 14, 2021, 
  • Wahlburgers restaurant chain, 
  • The film production company, Unrealistic Ideas, 
  • The clothing line, Municial, and 
  • Tequila brand, Flecha Azul.

Wahlberg added, “I am excited to be a part of such a unique brand that fits my style and cares about sustainability. CEO Wayne Kulkin is a passionate and knowledgeable sneakerhead, and I look forward to being part of this project.”

Last week StreetTrend, LLC launched its newest P448 retail store in Paris, France; this follows two other recent openings late last year in New York City and Miami, FL. The brand has also launched in China, with planned openings in Korea, South America and Mexico in 2022.

Management indicated that wholesale remains a major focus of its overall business strategy, with strong growth at independent retailers worldwide and at major department stores including Nordstrom, Bloomingdales, Holt Renfrew, La Rinascente, and Printemps.

Hilco Global CEO, Jeff Hecktman, who partnered with Wayne Kulkin in 2017 to finance and expand the business worldwide said, “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. 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.”

Photos courtesy P448