It looks like the shoe itself was photographed and then placed in the foreground. The background image was then created e.g. with a gradient, shading, compositing the product in and recoloring the bottom magenta. Then I'd guess it was put through a filter of some sort, but I can't really identify it. I've seen this done in many Adidas ads. The quality of the ripple/glass repeat look is lovely.
Anyone have any ideas on how this was achieved?