Foot Locker to focus more on Adidas as Nike lowers presence

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Reuters API

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Foot Locker’s tie-up with Adidas will involve increased product allocations and shared marketing spend, the retailer said on Thursday – Reuters

Nike, which is building its direct-to-consumer (DTC) business, will account for about 60% of total purchases for 2022, down from 70% in the past year and 75% in 2020, Foot Locker said in February.

The partnership will target over $2 billion in retail sales by 2025, nearly tripling from 2021 levels, with Adidas expecting to rake in up to 100 million euros ($105.41 million) more in revenue this year.

Foot Locker’s tie-up with Adidas will involve increased product allocations and shared marketing spend, the retailer said on Thursday.

“Foot Locker will lead Adidas’ basketball offering … the collaboration will focus on key Originals franchises including NMD, Superstar and Stan Smith