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Foot Locker acquires two footwear retailers

Tom Shearsmith
03 August 2021

Sneaker and sportswear apparel retailer Foot Locker has today announced the acquisition of Japanese streetwear business Atmos for $360m and California-based footwear retailer WSS for $750m.

Atmos is a culturally connected brand featuring premium sneakers and apparel, an exclusive in-house label, collaborative relationships with leading vendors in the sneaker ecosystem, experiential stores, and a robust omni-channel platform.

It has a base of 49 stores globally, including 39 in Japan, operating under the atmos banner and atmos pink, its women’s brand.

The acquisition of Atmos will reportedly help "accelerate Foot Locker’s global reach with a highly strategic foothold in Japan", whilst extending the Company’s premium and top-tier offering.

WSS is an athletic-inspired retailer focused on the large and rapidly growing Hispanic consumer demographic, operating a fleet of 93 off-mall stores in key markets across California, Texas, Arizona, and Nevada.

WSS’s community-driven business benefits from deep relationships with customers – with approximately 80% of its sales coming from customers who are members of its loyalty program.

Foot Locker hopes that WSS’s assortment of classic styles will further diversify its' product mix, enabling the company to serve a broader range of consumer needs across price points.

Richard A. Johnson, Chairman and CEO of Foot Locker, Inc. said, “With atmos, we are executing against our expansion initiative in the rapidly growing Asia-Pacific market, establishing a critical entry point in Japan and benefitting from immediate scale.

“We are thrilled to bring atmos into our portfolio of brands and build on the strong foundation of this differentiated business. We look forward to welcoming atmos’s highly respected founder, Hidefumi Hommyo, who is considered one of the most influential people in streetwear and sneaker culture, along with the rest of the valued atmos team and their customers, to the Foot Locker family.

“WSS has built a successful, high-growth business by pioneering the neighborhood-based store model, built on community engagement and a full-family offering. This acquisition enhances our product mix and provides access to a customer base and store footprint that are both differentiated from and complementary to our current portfolio.

“We are thrilled to welcome WSS’s customers into the Foot Locker family, as well as join forces with their talented team. Looking ahead, we see significant opportunities to expand this business, including by accelerating WSS’s store growth into new geographies in North America.”

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