The phenomenon of Nike's Air Max Phenomena continues. And the latest pair of sneaker-loafers is looking as fine as a glass of wine.

No, seriously. In this new "Burgundy Crush" colorway, the Air Max Phenomena loafer hybrid looks as if Nike bathed it in the finest red wine. The shoe's burgundy shades cover everything from its premium leather uppers to the chunky Air Max sole unit borrowed from the Air Max Sunder.

Really, the Air Max Phenomena is basically the Sunder if it decided to unzip out of the jacket and slip into a formal leather suit instead.

Designed by the Serena Williams Design Crew, the Air Max Phenomena debuted earlier this year as Nike's own take on the, well, sneaker-loafer phenomenon. And it landed at the perfect time at the height of the craze.

New Balance's 1906L had finally arrived, while other brands, like HOKA, also joined in on the crossover fun with their own extra-chunky dressy sneakers.

Really, it's all part of a bigger sneaker moment. At first, dress shoes became the new sneakers. Now, sneakers are literally going formal.

And Nike's got some pretty solid efforts on the market. The brand has another Air Max dress shoe, designed in collaboration with Air Afrique. At the same time, Nike's leather Cortez and Shox mules by Martine Rose are right there at the borderline of sports and fancy dinner attire.

The Air Max Phenomena leans a little more on the dressy side of things, thanks to the business matters being handled up top. But underfoot is a classic Swoosh tech party.

The new "Burgundy Crush" Air Max Phenomena is expected to drop sometime this year on Nike's website. Expect to pay the model's usual retail price of $155.

Highsnobiety has affiliate marketing partnerships, which means we may receive a commission from your purchase. Want to shop the products our editors actually love? Visit the HS Style Guide for recs on all things fashion, footwear, and beauty