Foot Locker<\/a> has today announced the acquisition of Japanese streetwear business Atmos for $360m and California-based footwear retailer WSS for $750m.<\/b><\/p>\nAtmos 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.<\/p>\n
It has a base of 49 stores globally, including 39 in Japan, operating under the atmos banner and atmos pink, its women\u2019s brand.<\/p>\n
The acquisition of Atmos will reportedly help \"accelerate Foot Locker\u2019s global reach with a highly strategic foothold in Japan\", whilst extending the Company\u2019s premium and top-tier offering.<\/p>\n
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.<\/p>\n
WSS\u2019s community-driven business benefits from deep relationships with customers \u2013 with approximately 80% of its sales coming from customers who are members of its loyalty program.<\/p>\n
Foot Locker hopes that WSS\u2019s assortment of classic styles will further diversify its' product mix, enabling the company to serve a broader range of consumer needs across price points.<\/p>\n
Richard A. Johnson, Chairman and CEO of Foot Locker, Inc. said, \u201cWith 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.<\/p>\n
\u201cWe 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\u2019s 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.<\/p>\n
\u201cWSS 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.<\/p>\n
\u201cWe are thrilled to welcome WSS\u2019s 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\u2019s store growth into new geographies in North America.\u201d<\/p>\n
<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"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.<\/p>\n","protected":false},"author":49,"featured_media":165571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[17456,11222,13167,10662,35,12419,10746],"acf":[],"yoast_head":"\n
Foot Locker acquires two footwear retailers - TheIndustry.fashion<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n