Foot Locker is realigning its sneaker presence to strengthen its tie with young consumers around the world. The brand has acquired streetwear brand Atmos and shoe retailer WSS in a deal worth $1.1 billion combined in an effort to adapt to the trends youth are leading today (a.k.a. limited-edition styles and streetwear). With Atmos being based in Tokyo and WSS having a large presence in the Southwest, both acquisitions will help Foot Locker expand its global footprint by bringing in a strong consumer base with Japanese and Hispanic youth. While Foot Locker has aimed to be at the center of sports sneakers and apparel throughout its 47-year-old history, CMO Jed Berger notes how its new acquisitions are meant to “inspire and empower youth culture” by tapping into the “multifaceted” nature of sneaker culture. (Adweek)
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