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Foot Locker makes minority investment in Launch Kids

01
Mar '19
Pic: Foot Locker
Pic: Foot Locker
Foot Locker, a specialty athletic retailer, has made $12.5 million minority investment in Launch Kids, d/b/a Rockets of Awesome, a children’s apparel company, through its subsidiary. Foot Locker’s investment is part of Rockets of Awesome’s $19.5 million Series C capital raise. The partnership will help Rockets of Awesome to be purchased alongside other brands.

The investment by and partnership with Foot Locker provides Rockets of Awesome with additional resources to build an integrated omni-channel customer experience, said Foot Locker in a media statement. The investment enables Foot Locker to enhance its commitment to the kids’ apparel segment, while further diversifying its customer base and expanding its product offerings. As part of Foot Locker’s strategic partnership, Kids Foot Locker will create exclusive Rockets of Awesome shop-in-shop destinations and be the largest retailer of Rockets of Awesome products in the US. Rockets of Awesome merchandise will also be available on kidsfootlocker.com.

“Rockets of Awesome is advancing the way parents shop for their kids and Foot Locker is committed to evolving with the ever-changing retail landscape and adjusting to the speed of our customers,” said Richard Johnson, Foot Locker’s chairman and chief executive officer. “We are excited that our partnership with Rockets of Awesome will enable Kids Foot Locker to deliver new, innovative products and experiences.  We look forward to collaborating with them on brand development, product collections, and go-to-market plans to help realise additional growth for both companies.”

“Our partnership with Foot Locker is a powerful validation of Rockets of Awesome’s ongoing progress in our mission to simplify parents’ lives and enable them to celebrate real life with their kids,” said Rachel Blumenthal, founder and chief executive officer of Rockets of Awesome. “With Foot Locker’s support, we look forward to bringing our unique, high-quality merchandise and convenient shopping experience to even more families everywhere.”

Rockets of Awesome simplifies the way parents shop by delivering high-quality, on-trend, handpicked pieces directly to customers. The brand is shoppable in sizes 3-12 on their e-commerce site and through their personalised, seasonal box solution. Rockets of Awesome leverages its technology and data to drive new merchandise R&D and provide a convenient and fun shopping experience for both parents and kids. (PC)

Fibre2Fashion News Desk – India


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