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Foot Locker takes a minority stake in Carbon38
28
Jan '18
Courtesy: Carbon38
Courtesy: Carbon38
Foot Locker, the New York-based specialty athletic retailer, has decided to strategically invest in Carbon38, taking a minority stake in the world's destination for women's luxury activewear. The $15 million Series A funding round brings the funds raised by Carbon38 to $26 million since 2013. Carbon38 focuses on meeting the needs of modern American women.

"We have admired the Carbon38 story and mission since we met three years ago," said Lauren B Peters, Foot Locker's executive vice president and chief financial officer. As part of the partnership, Peters will join Carbon38's Board of Directors. "Katie and the team at Carbon38 have done an amazing job creating a brand with an extremely loyal following in the fitness and fashion worlds. In addition to the support of Carbon38's exceptional growth potential that our investment provides, we expect to leverage the team's keen industry insights and focus in order to elevate our own SIX:02 banner's performance."

"We are excited to have Foot Locker as an investor as we continue to scale our business and expand our omni-channel strategy, both in the US and internationally," said Katie Warner Johnson, Carbon38 co-founder and CEO. "This funding enables us to accelerate our path of rapid growth and achieve our mission of defining a new category of luxury active ready-to-wear for women."

Guggenheim Securities is serving as exclusive financial advisor to Foot Locker in connection with this investment, with Skadden, Arps, Slate, Meagher & Flom providing legal counsel. Piper Jaffray and Latham & Watkins are advising Carbon38. (SV)

Fibre2Fashion News Desk – India


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