// Through a new partnership Foot Locker will become Adidas’ lead partner in the basketball category
// The partnership will aim to achieve over $2 billion in retail sales by 2025, which will almost be triple the level of 2021
Adidas has signed an enhanced partnership with Foot Locker that will see the retailer become the lead partner for the sporting giant’s basketball category.
Set to include all Foot Locker banners in North America, EMEA and Asia-Pacific, the partnership will also centre around the development and expansion of key franchises across women’s, kid’s and clothing.
The strategic deal will target over two billion dollars in retail sales by 2025, Adidas said in a release, which will triple its sales from 2021. It added that it expects to generate incremental revenues of up to $100 million following the partnership.
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Led by Fear of God founder Jerry Lorenzo, Foot Locker will be the driver behind Adidas’ basketball offering, with plans to create exclusive positions in both lifestyle and performance categories.
Additionally, the deal will also play a role in the launch of Adidas’ new sportswear product division for Foot Locker, which will target lifestyle consumers.
The partnership will also involve Adidas providing Foot Locker with a dedicated team to deliver an elevated consumer experience across stores and online.
This will cover product development, exclusive Foot Locker positioning, increased product allocations, shared marketing spend, and an elevated premium presence across Foot Locker’s entire portfolio of banners
Adidas chief executive Kasper Rorsted said: “We are delighted to be deepening our partnership with Foot Locker as we continue to execute our ‘Own the Game’ strategy. Consumers will be at the heart of this exciting collaboration and will be able to experience the adidas brand and its key product franchises, as well as new product innovations, at Foot Locker, stronger than ever before.”
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