In addition, the agreement includes new launches, and the development and expansion of key franchises across women’s, kids, and apparel. The US-based retailer advanced that the new collaboration, which will span Foot Locker banners in North America, EMEA, and Asia-Pacific, will target over 2 billion US dollars in retail sales by 2025, nearly tripping levels from 2021. In turn, adidas is anticipating generating incremental revenue of up to 100 million euros.

The sportswear giant will provide Foot Locker with a team focused on delivering and improving the consumer experience in both stores and online, relying on the retailer for positioning, increased product allocations, shared marketing spending, and a premium presence across its portfolio of banners. adidas also plans to bet on its digital strategy to accelerate the rollout of its partner programme at Foot Locker.

"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", commented adidas CEO Kasper Rorsted.

Foot Locker, which is trying to diversify its offering, expressed its satisfaction with the deal. "We are excited to build on our partnership with adidas as we continue our strategy to broaden our selection of footwear and apparel for the sport and sneaker communities. This close partnership will enable us to bring consumers even more unique, pinnacle products from iconic brands, as well as accelerate our push into apparel, adding new dimension to our assortment and bringing more customers into our ecosystem”, added Richard A. Johnson, Chairman and Chief Executive Officer of Foot Locker.