The Brand Ledger
Tracking the brands that got worse on purpose — and the ones that didn't.
The Brand Ledger tracks 345 brands, from the tools in your garage to the pans in your kitchen. Who owns them, what they used to be, whether they're still worth buying. Updated as things change.
Recently updated
View all →Tools · Hand Tools
SK Tools
Status: Former GreatAmerican hand tools, 1921-2021. The name survives on imports.
Hangzhou GreatStar Industrial Co.
Footwear · Work Boots
Wolverine
Status: WatchlistAmerican work boot brand.
Wolverine World Wide
Footwear · Sneakers,Running Shoes
New Balance
Status: ApprovedAmerican athletic footwear. Boston, Massachusetts. The counterexample the running shoes essay leans on: still owns and expands US factories.
Footwear · Running Shoes,Sneakers
On
Status: WatchlistSwiss-engineered running shoes. Distinctive CloudTec hollow-pod outsole. Founded by retired professional triathlete and two design-and-marketing co-founders. Zurich, Switzerland.
On Holding AG (NYSE: ONON)
Footwear · Hiking Boots,Running Shoes
Salomon
Status: WatchlistTechnical outdoor footwear (trail running, hiking, ski boots), ski bindings, outdoor apparel, and packs. The XT-6 trail runner crossed into mainstream gorpcore fashion in 2023, expanding the brand well beyond its alpinist and trail-running base.
Amer Sports (NYSE: AS) - Anta Sports-led consortium
Footwear · Sneakers,Running Shoes
Nike
Status: WatchlistThe largest athletic footwear company in the world. Beaverton, Oregon. Began as a distributor of Japanese running shoes — contract manufacturing was the founding model, not a departure from one.
Verdicts
Approved
140 brands
Brands whose quality, ownership structure, and stewardship check out. Still worth buying.
e.g. Knipex, Goruck
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Watchlist
108 brands
Brands with documented risk factors. Either recent ownership changes, conglomerate pressure, or emerging quality issues. Buy with eyes open.
e.g. Starrett, Tom Bihn
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Former Great
18 brands
Brands that used to be worth recommending, but aren't anymore. The product no longer reflects the reputation.
e.g. Ryobi, Tumi
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Avoid
79 brands
Brands actively engaged in the enshittification playbook. Licensing models, post-acquisition cost-cutting, brand equity being extracted.
e.g. Craftsman, Ray-Ban
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Latest investigation
Same Shoe, Different Factory
Nike does not make Nike shoes. Four contractors it does not own build 59% of them. Adidas outsources almost 100%. The fastest-growing brand in running buys its shoes on individual purchase orders, with no commitment at all. Two majors still own a factory. Plus the ones still worth buying.
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