Adidas and US streetwear and sneaker retailer Foot Locker are expanding their collaboration.
The expanded partnership is based on “product innovations, improved experiences and closer customer loyalty,” said the Herzogenaurach-based sports goods retailer and Foot Locker on Thursday. The retailer is to become the leading Adidas partner for basketball. In addition, the market launch of new products is to be accelerated.
“We are very excited to deepen our partnership with Foot Locker to further execute our ‘Own the Game’ strategy,” said Adidas CEO Kasper Rorsted experience their key product brands and new product innovations at Foot Locker more than ever before.”
With this partnership, Foot Locker aims to reach over $2 billion in retail sales in all markets by 2025. Compared to 2021, the fashion retailer would triple its sales. Adidas is expecting additional sales of 100 million euros from the cooperation, according to Herzogenaurach.
“This close partnership will allow us to offer consumers even more unique, high-end products from iconic brands and accelerate our foray into apparel to add a new dimension to our range and bring more customers into our ecosystem,” said Foot Locker CEO Richard Johnson.
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