ADIDAS is thinking big for its basketball division. More than a year after appointing the designer-founder of Fear of God, Jerry LORENZO, as head of this range (article available HERE), the German giant announces a new strategic partnership with the brand FOOT LOCKER.
Foot Locker becomes the main partner of adidas for the basketball releases.
The retailer will get exclusive products, including new Jerry Lorenzo designs, lifestyle and performance items. In addition, Foot Locker will help develop other categories of the 3-Stripes brand, such as trendy designs, women’s and children’s apparel, and also the Originals line with a multiplied offering of iconic pairs like the Superstar, Stan Smith and NMD. A new lifestyle division « Sportswear » will be developed and the portfolio of adidas influencer partnerships will be studied in depth.
The German giant also plans to supplement Foot Locker’s teams with trained personnel to improve the consumer experience in stores and online.
Kasper Rorsted, CEO of Adidas, said : « Consumers will be at the center of this exciting collaboration and will experience the Adidas brand and its key product franchises, as well as new product innovations, at Foot Locker, stronger than ever. »
Richard A. Johnson, president and CEO of Foot Locker, Added : « This close partnership will allow us to offer consumers even more unique and premium products from this iconic brand, as well as accelerate our push into apparel, adding a new dimension to our assortment and attracting more customers into our ecosystem. »
Through this enhanced partnership, built around product innovation, premium experiences and deeper connectivity with consumers, ADIDAS is targeting over $2 billion in retail sales by 2025. In terms of direct benefits from this partnership with Foot Locker, adidas expects $100 million in additional revenue. To be continued…
