Foot Locker is looking to grow its footprint beyond malls and accelerate its expansion in Asia (and the premium fashion sneaker market) via two separate transactions.
The company has entered into a deal to acquire U.S.-based athletic footwear and apparel retailer Eurostar Inc., or WSS, for $750 million. The retailer operates 93 off-mall stores in California, Texas, Arizona and Nevada.
In addition, Foot Locker will acquire Text Trading Company, which owns and licenses the Atmos brand, a digitally led, hot streetwear brand based in Japan, for $360 million. The company has 49 stores, with 39 in its home country.Chain Store Age