Foot Locker continues to position itself as a top digital player with a new strategic investment in shoppable show app NTWRK.
The retailer announced today that it has invested $3 million in NTWRK with plans to crosspollinate their audiences. Specifics weren't disclosed, but a press release promises to "bring together the world’s best brands" and points to NTWRK's current partnerships with the likes of Nike, Jordan Brand, and Adidas, each of which are complimentary to Foot Locker's products.
“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," said Foot Locker chairman and CEO Richard Johnson. "We look forward to working closely with Aaron [Levant, CEO of NTWRK] and the NTWRK team to deliver exclusive products and experiences for our customers and extend our reach in youth culture.”
This latest news comes after Foot Locker made another major investment earlier this year, pumping $100 million into resale platform GOAT, the largest investment ever made by the retailer. As for NTWRK, its latest round of series A funding has raised a total of $10 million thus far, thanks in large part to this investment.
