Foot Locker’s New Culture
Foot Locker, the biggest athletic-shoe retailer in the United States, is on the course of convincing its audience that it is not just a sneaker store, but much more of a destination for “Youth Culture Empowerment”.
Consumer behavior is a dynamic factor that calls for a response from brands worldwide, and Foot Locker is no exception. Based in New York, Foot Locker is a footwear retailer that keeps improving its product design and quality to achieve shifting consumer needs since it was first formed in 1974.
Since January this year, this company has invested in for startups namely Pensole – a sneaker design academy, Rockets of Awesomeness –an online children’s clothing subscription service, Goat – kicks resale business, and Super Heroic – a kids’ apparel and shoe brand. Foot Locker also made a move last year by taking a minority stake in Carbon38 – a women’s luxury activewear brand.
Richard Johnson, Foot Locker CEO and President, said “We’ve changed a lot” in an interview. He also added that the rate at which they are changing is not slowing down anytime soon as the consumer moves fast, a factor that calls for their agility. He clarified that all these things they are identifying to invest are potential capabilities they are looking forward to add to the ecosystem that builds the youth culture and none is a distraction.
For instance, at Foot Locker’s Times Square Flagship, Rockets of Awesomeness and Super Heroic have been incorporated in Kids Foot Locker. A Pensole creator’s footwear design has also been re-branded into an Adidas shoe and is available for sale only at footlocker. Johnson said that Foot Locker is on its young development stages and is destined for greatness.
Foot Locker opened “power stores”, the first in their home market regions of Detroit and Philadelphia, this year after launching them in the cities of London and Liverpool in the UK. These stores sell exclusive products and touches molded to suit the native tastes of the areas. They are now planning to have on the retail buzzword of the day: experience. According to the company, this is aimed at being “the hub for native sneaker culture, music, sports and art,” and they have adequate space to host local traffic-driving community events such as X-box gaming sessions and pop-up nail salons.