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Foot Locker announces strategic investment in NTWRK

28
Sep '19
Pic: Foot Locker
Pic: Foot Locker
Foot Locker has announced a recent strategic investment in NTWRK, a youth culture e-commerce and content platform. With the $3 million investment, Foot Locker and NTWRK will bring together the world's best brands utilising NTWRK's highly compelling episodic format to release exclusive products, original content and access to the biggest names in youth culture.

The series A round of funding has raised a total of $10 million for NTWRK, led by investments from Live Nation and Foot Locker, said Foor Locker in a press release.

Since its inception in 2018, NTWRK has pioneered 'Shopping at the Speed of Culture' which encompasses an unprecedented overlap of content creation, episodic programming, experiential activations and exclusive launches to drive e-commerce sales. Its unique platform gives brands and artists the ability to tell stories behind their most compelling products, with partnerships focused on demand creation and commercialising hype in new and exciting ways. NTWRK is headquartered in Los Angeles, California and led by CEO Aaron Levant, who previously served as senior VP at Reed Exhibitions.

In that role, he founded The Agenda Show, the industry's largest streetwear trade show, and spearheaded the launch of ComplexCon, a cultural event attracting consumers and the biggest names in pop culture across fashion, arts and sports. NTWRK was initially backed by Warner Brothers Entertainment and has since brought commerce and community to an exciting new level.

"NTWRK's innovating and engaging content platform is pioneering the way brands tell their stories and the way youth culture shops," said Richard Johnson, Foot Locker's chairman and chief executive officer. "At Foot Locker, we are focused on continuing to elevate the customer experience and investing for growth, and our partnership with NTWRK reflects our commitment to driving our business in new and exciting ways. We look forward to working closely with Levant and the NTWRK team to deliver exclusive products and experiences for our customers and extend our reach in youth culture."

Many of NTWRK's recent and current partnerships include brands that are complementary to Foot Locker's offerings, such as Nike, Jordan, adidas, Puma, Champion and New Balance.

"NTWRK is building the content platform and retail marketplace of the future through an approach that has undeniably elevated the consumer experience. We are excited to partner with Foot Locker on this journey, further enhancing what experiential commerce means to the consumer. Given Foot Locker's strong, global track record for retail leadership, we collectively aim to exceed the expectations of the next wave of consumers," said Levant.

Foot Locker, Inc is a specialty athletic retailer that operates approximately 3,175 stores in 27 countries as well as websites and mobile apps, under the brand names Foot Locker, Lady Foot Locker, Kids Foot Locker, Footaction, Champs Sports, Eastbay, Runners Point, and Sidestep. 

Fibre2Fashion News Desk (PC)


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