The news was announced today : the well-known American company FOOT LOCKER has reached a definitive agreement to acquire Text Trading Company, KK which owns and licenses ATMOS. The purchase price is $360 million.
Atmos was founded in 2000 as a small sneaker store in the Ura-Harajuku district, the birthplace of Japanese streetwear. Today, Atmos has 49 shops worldwide, 39 of which are in Japan, as well as an exclusive in-house brand, a sub-label Atmos Pink for women, collabs with all the biggest names in the game and innovative and attractive sales ideas. The Tokyo-based retailer generated about $170 million in 2020, 60% of which came from online sales.
Hidefumi Hommyo, founder of ATMOS said : « Our passion for sneaker culture and our ability to connect with our customers has always been the driving force behind our growth. Foot Locker shares this passion and we are excited to join forces with them to propel ATMOS into our next phase of growth ».
By acquiring Atmos, Foot Locker aims to reach a new audience, expand its impact and reach globally with a strategic presence in the fast-growing Japanese market. While becoming a new banner in the Foot Locker portfolio, ATMOS retains its name and creative flair.
Richard A. Johnson, president and CEO of Foot Locker concluded : « We look forward to welcoming the highly respected founder of ATMOS, Hidefumi Hommyo, who is considered one of the most influential people in the sneaker and streetwear culture, along with the rest of the valued ATMOS team and their customers, to the Foot Locker family ».
FOOT LOCKER’s purchase of ATMOS will close at the end of the third quarter of 2021. Along with the acquisition, the U.S. company also acquired fellow footwear and apparel chain WWS. In total, FOOT LOCKER will spend more than a billion dollars to guarantee a future that looks prosperous and bright !
