Foot Locker is making a series of interests in online brands as an approach to remain important with more youthful customers.
In its most recent arrangement, the tennis shoe retailer said Tuesday it has put $12.5 million in youngsters’ attire organization Rockets of Awesome. This pursues Foot Locker’s $100 million interest in online shoe exchange stage Goat Group, alongside interests in way of life brand Super Heroic, activewear brand Carbon38 and footwear plan institute Pensole.
“We are lifting our client experience and making speculations as long as possible,” Foot Locker CEO Dick Johnson told CNBC. He said the organization is effectively searching for ways “to take advantage of the abilities and ability of imaginative and novel brands through associations or ventures” as it plans to serve “the developing youth culture.”
Foot Locker’s interest in Rockets of Awesome is a piece of the online retailer’s $19.5 million Series C financing round. Presently, Rockets of Awesome — which hasn’t had a lot of a blocks and-mortar nearness other than a bunch of spring up shops — will open ministores inside Kids Foot Locker areas the nation over. Rockets of Awesome is additionally going to start selling on Foot Locker’s youngsters’ site.