Adidas and Foot Locker team up on new long-term strategic partnership
Adidas is extending its relationship with Foot Locker through a new long-term strategic partnership built around product innovation, elevated experiences and deeper consumer connectivity.
Th move will see Foot Locker become Adidas’ lead partner in the basketball category and will also include the development and expansion of key franchises across the women’s, kids and apparel categories.
Covering all Foot Locker banners in North America, EMEA, and Asia-Pacific, the partnership will aim to achieve over $2 billion in retail sales by 2025, which will almost be triple the level of 2021.
Adidas chief executive Kasper Rorsted said: “We are delighted to be deepening our partnership with Foot Locker as we continue to execute 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 before.”
Foot Locker will lead Adidas’ basketball offering, led by Fear of God founder and designer Jerry Lorenzo, and develop exclusive positions in both areas. In addition, the collaboration will focus on key Originals franchises including NMD, Superstar and Stan Smith, and on the Adidas influencer partnership portfolio. It will also include a prominent role for Foot Locker in the launch of Adidas’ new lifestyle sportswear product division.
The partnership will also involve Adidas providing Foot Locker with a dedicated team to deliver an elevated consumer experience both in stores and online. This will cover product development, exclusive Foot Locker positioning, increased product allocations, shared marketing spend, and an elevated premium presence across Foot Locker’s entire portfolio of banners.
