Adidas seems to be picking up some of the extra space Nike is leaving in Foot Locker. The athletics giant on Thursday announced a long-term partnership with Foot Locker that includes expanding key franchises in women’s, kids and apparel.
The new deal makes Foot Locker the “lead partner” for Adidas’ basketball offerings, according to a company press release. Foot Locker will also play a “prominent role” in the launch of Adidas’ new lifestyle sportswear product.
Adidas is targeting over $2 billion in retail sales from the partnership by 2025, which nearly triples 2021 levels. In the coming year, Adidas expects to make up to 100 million euros ($105 million) as a result of the deal.
Source: Retail Dive
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 