UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934

Amendment No.:  *

Name of Issuer:  NS Group, Inc.

Title of Class of Securities:  Common Stock, no par value 

CUSIP Number:  628916108

          (Name, Address and Telephone Number of Person
       Authorized To Receive Notices and Communications)  

          Mr. Dimitrijevic, c/o Everest Capital Limited
                The Bank of Butterfield Building 
       65 Front Street, 6th Floor, Hamilton HM JX, Bermuda

                        December 18, 1997

If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box [   ].

Note: Six copies of this statement, including all exhibits,
should be filed with the Commission.  See Rule 13d-1(a) for other
parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).





CUSIP No. 628916108

1.  Name of Reporting Person
    S.S. or I.R.S. Identification No. of Above Person

         Everest Capital Limited

2.  Check the Appropriate Box if a Member of a Group

         a.   
         b.   

3.  SEC Use Only

4.  Source of Funds

         AF

5.  Check if Disclosure of Legal Proceedings is Required Pursuant
    to Items 2(d) or 2(e)

6.  Citizenship or Place of Organization

         Bermuda

Number of Shares Beneficially Owned by Each Reporting Person
With:

7.  Sole Voting Power:

         1,778,100

8.  Shared Voting Power:


9.  Sole Dispositive Power:

         1,778,100

10. Shared Dispositive Power:


11. Aggregate Amount Beneficially Owned by Each Reporting Person

         1,778,100

12. Check Box if the Aggregate Amount in Row (11) Excludes
    Certain Shares





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13. Percent of Class Represented by Amount in Row (11)

         7.63%

14. Type of Reporting Person

         CO














































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The purpose of this Schedule 13D is to report Everest Capital
Limited's (the "Reporting Person") ownership of the Common Stock,
no par value (the "Shares"), in NS Group, Inc. (the "Issuer").

Item 1.  Security and Issuer

         The title of the class of equity securities to which
         this statement relates is:  Common Stock, no par value
         in NS Group, Inc.

         The name and address of the principal executive and
         business office of the Issuer is:

         NS Group, Inc.
         Ninth & Lowell Sts.
         Newport, KY 41072

Item 2.  Identity and Background

         (a)  Everest Capital Limited

         (b)  The Bank of Butterfield Building, 65 Front Street,
              6th Floor, Hamilton HM JX, Bermuda

         (c)  The principal businesses of the Reporting Person is
              to act as an investment manager for various private
              investment entities and managed accounts.

         (d)  During the last five years, neither the Reporting
              Person nor any person affiliated with the Reporting
              Person has been convicted in any criminal
              proceeding, excluding traffic violations or similar
              misdemeanors.

         (e)  During the last five years, neither the Reporting
              Person nor any person affiliated with the Reporting
              Person has been a party to a civil proceeding of a
              judicial or administrative body of competent
              jurisdiction as a result of which it or such person
              is subject to a judgment, decree or final order
              enjoining future violations of, or prohibiting or
              mandating activities subject to, federal or state
              securities laws or finding any violation with
              respect to such laws.

         (f)  The Reporting Person is a corporation organized
              under the laws of Bermuda.






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Item 3.  Source and Amount of Funds or Other Consideration.
         
         The funds for the purchase of the Shares of the Issuer
         came from the respective working capital of the Fund or
         the other private investment entities, from the funds of
         each managed account or from margin loans entered into
         in the ordinary course of business.  The shares were
         purchased for an aggregate purchase price of
         $29,145,249.11.
         
Item. 4  Purpose of Transactions.

         The Shares held by the above mentioned entities were
         acquired for, and are being held for, investment
         purposes.  The acquisitions of the Shares described
         herein were made in the ordinary course of the Reporting
         Person's business or investment activities, as the case
         may be.  The Reporting Person, on behalf of the above
         mentioned entities, reserves the right to purchase
         Shares in privately negotiated transactions or in any
         other lawful manner in the future. 

Item 5.  Interest in Securities of Issuer.

         (a)  Based on information received from the Issuer, as
              of September 27, 1997 there were 23,310,297 Shares
              outstanding.  As of the date hereof the Reporting
              Person is deemed to be the beneficial owner of
              1,778,100 shares of the outstanding Shares of the
              Issuer.  Therefore, the Reporting Person is deemed
              to be the beneficial owner of 7.63% of the Issuer's
              outstanding Shares.

         (b)  The Reporting Person has the sole power to vote and
              dispose of all the shares held by the above
              mentioned entities.

         (c)  All transactions in the Shares effected by the
              Reporting Person during the sixty days prior to
              December 18, 1997 through the date of this filing
              were effected in open-market transactions and are
              set forth in Exhibit A hereto.

         (d)  No other person is known to have the right to
              receive or the power to direct the receipt of
              dividends from, or the proceeds from the sale of
              the Shares.

         (e)  Not applicable




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Item 6.  Contracts, Arrangements, Understandings or
         Relationships with Respect to Securities of the Issuer

         Except as described herein, there are no contracts,
         arrangements, understandings or relationships between
         the persons named in Item 2 hereof or between such
         persons and any other person with respect to any
         securities of the Issuer.

Item 7.  Material to be Filed as Exhibits.

         Exhibit A.   Schedule of Transactions in the Shares
                      made by the Reporting Person in the
                      sixty days prior to December 18, 1997
                      through the date of this filing.




         Signature

         After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.

December 30, 1997 
____________________________
Date


Everest Capital Limited


By: Marko Dimitrijevic / President

________________________________
Name/Title
















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                             EXHIBIT A

                     SCHEDULE OF TRANSACTIONS

                                       Price Per Share
                                         (Excluding
Date               Shares Acquired       Commission)
____               or (sold)           _____________

12/15/97              100,000              $14.7461

12/16/97              140,000               15.3415

12/17/97                9,000               17.3308

12/17/97              150,000               16.3935

12/17/97              250,000               16.5951

12/18/97              300,000               16.5973

12/18/97              804,100               16.7151

12/23/97               25,000               13.57





























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