Tamoto noted that sales of Yohji Yamamoto and Y's in Japan have remained unchanged for the last few years, at around 9 billion yen, or $77 million. International sales total about 4 billion yen, or $34 million, including retail and wholesale.

While Yamamoto, 63, might not be considered a top-of-mind designer for young people, SINV executives said they were attracted by his international design credibility and the appeal of Japan's anything-goes, youth-driven fashion culture.

And the Y-3 project underscored Yamamoto's keen instincts, foreshadowing tightening links between fashion and sport, Braglia said. "He understood first the potential of shoes and now how sport and fashion could be mixed together," he said.