adidas x Foot Locker, Inc. Enter Into Strategic Partnership

06 May 2022, Mumbai:

adidas and Foot Locker, Inc. Announce New Long-Term Strategic Partnership Partnership advances joint commitment to sports community and sneaker culture.

adidas AG (XETRA: ADS.DE) (“adidas”), a global leader in the sporting goods industry, and Foot Locker, Inc. (NYSE: FL) (“Foot Locker”), the New York-based specialty athletic retailer, today announced a new and enhanced partnership built around product innovation, elevated experiences, and deeper consumer connectivity.

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This enhanced relationship will establish Foot Locker as the lead partner for adidas in the basketball category, accelerate energy and hype launches, as well as include the development and expansion of key franchises across women’s, kids, and apparel.

Including all Foot Locker banners in North America, EMEA, and Asia-Pacific, the new strategic partnership will target over $2 billion in retail sales by 2025, nearly tripling levels from 2021.

In 2022, adidas expects to generate incremental revenues of up to €100 million as a result of the new partnership.

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“We are delighted to be deepening our partnership with Foot Locker as we continue to execute our ‘Own the Game’ strategy,” said adidas CEO Kasper Rorsted.

“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.”

“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,” said Richard A. Johnson, Chairman and Chief Executive Officer of Foot Locker, Inc.

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