adidas partners with Foot Locker to develop its basketball products
German sporting goods brand adidas has entered into a strategic partnership with New York-based specialty sports retailer Foot Locker.
This long-term partnership makes Foot Locker the main partner of adidas in the basketball category.
Foot Locker will lead adidas’ basketball offering in the lifestyle and performance categories and develop exclusive positions in both areas.
Fear of God founder and designer Jerry Lorenzo will lead the product portfolio.
In addition, the partners will develop and expand key franchises in women’s, children’s and apparel categories, including all Foot Locker banners in North America, Europe, Middle East and Africa (EMEA) and Asia Pacific. .
The partnership will also pay particular attention to major adidas Originals franchises including NMD, Superstar and Stan Smith.
Foot Locker Chairman and CEO Richard Johnson said: “We are delighted to strengthen our partnership with adidas as we continue our strategy to expand our selection of footwear and apparel for the sports and sneaker communities.
“This close partnership will allow us to offer consumers even more unique and premium products from iconic brands, as well as accelerate our push into apparel, adding a new dimension to our assortment and attracting more customers. in our ecosystem.
Through this partnership, Foot Locker and adidas aim to grow retail sales to more than $2 billion by 2025, nearly three times the levels seen last year.
A dedicated adidas team will be working to help Foot Locker improve its customer experience in-store and online.
adidas expects to generate additional revenue of up to €100 million ($105.15 million) from the partnership.
Kasper Rorsted, CEO of adidas, said: “We are delighted to deepen our partnership with Foot Locker as we continue to implement our ‘Own the Game’ strategy.
“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.”