Damian Lillard co-founded Move, a company that produces sneaker insoles for both athletes and non-athletes, stemming from several foot injuries, including plantar fasciitis, that he has suffered during his playing career.
Damian Lillard of the Portland Trail Blazers dribbles against the New York Knicks at Moda Center on March 14, 2023 in Portland, Oregon.While playing college basketball at Weber State University, Damian Lillard suffered a broken bone in his right foot as a junior that kept him out of all but nine games of the 2010-2011 season.
"Foot health is something that I think a lot of people could really benefit from paying closer attention to," Lillard told CNBC's Dominic Chu at CNBC's Small Business Playbook virtual event on Thursday. "We can do nothing without healthy feet as athletes." While sneaker insoles make up a small portion of the more than $150 billion global sneaker market, it is a crowded space filled with custom products sold by podiatrists and footcare products sold at big-box retailers from companies like Dr. Scholl's, which is owned by private equity firm Yellow Wood Partners, and Superfeet, owned by private equity firm Westward Partners. A high percentage of sneaker wearers also just use the standard insole that comes with their shoes.