London streetwear brandTrapstar has been rescued by UK retailer Footasylum after entering administration in May due to financial difficulties.
The brand, founded by Mikey Aryee, Lee Langaigne and Will Thomas, struggled to secure fresh investment following a sharp decline in revenue. Sales reportedly fell from nearly £40 million in 2022 to about £17.7 million by 2024, leading administrators from Interpath to seek buyers for the business.
Footasylum has now acquired Trapstar and announced a strategic partnership aimed at supporting the label’s next phase of growth. The deal is aiming to help expand Trapstar’s product offering,s including its recently launched footwear line, while leveraging Footasylum’s retail network.
The acquisition closes a turbulent period for one of the UK’s most influential streetwear brands. Despite its financial troubles, Trapstar continued to push creative projects this year, including its revived Red Line collection and the debut of its first sneaker silhouettes.