The partnership, announced today, will see Foot Locker become Adidas’ lead partner for basketball releases along with helping develop other categories under the Three Stripes umbrella. A press release outlines a plan that will provide Foot Locker with exclusive Adidas basketball product, notably new designs from Fear of God’s Jerry Lorenzo, in both lifestyle and performance options. There will also be focus on hyped releases, women’s and kid’s footwear, and apparel, as well as well-known Originals models like the Stan Smith, Superstar, and NMD. A new lifestyle Adidas division known as Sportswear will also be highlighted in the partnership.
“Consumers will be at the heart of this exciting collaboration and will be able to experience the Adidas brand and its key product franchises, as well as new product innovations, at Foot Locker, stronger than ever before,” Adidas CEO Kasper Rorsted said.
“We are excited to build on our partnership with adidas as we continue our strategy to broaden our selection of footwear and apparel for the sport and sneaker communities,” Richard A. Johnson, chairman and CEO of Foot Locker added. “This close partnership will enable us to bring consumers even more unique, pinnacle products from iconic brands, as well as accelerate our push into apparel, adding new dimension to our assortment and bringing more customers into our ecosystem.”
Adidas plans to equip Foot Locker with a team to improve the consumer experience both in-store and online. The new venture will span the North America, EMEA, and Asia-Pacific regions. Along with the $2 billion retail sales by 2025 target, Adidas also expects the new partnership to bring in as much as €100 million in incremental revenue.
Article written by Riley Jones #SoleCollector