Walking The Walk: Ralph Lauren’s got it. Tommy Hilfiger doesn’t. And Jay-Z’s could be fleeting.

Street cred, that is. At least, that’s the view of marketing consultant Jameel Spencer, whose clients include a trio of P. Diddy ventures: Sean Jean Clothing, Justin’s Restaurant and Daddy’s House Social Programs. “Jay-Z’s Reebok thing [footwear] is going to be a short-term success,” the Blue Flame Marketing and Advertising president predicted to trend hunters and marketers at Rolling Stone’s Youth Culture Conference, held June 11 at Powder studio in Manhattan’s Chelsea section. “If someone is getting paid just to put their name on something, it won’t work for long. Everyone knows if you turn on a Jay-Z video, he’s wearing Air Force One,” Spencer said of the Nike shoes. “Jay-Z loves Nike.” [Nike is a former client of Spencer’s, as are Versace and Calvin Klein.]

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