Foot Locker buys two sneaker chains for $1110 million | Economie

Foot Locker has announced the purchase of two athletic shoe chains, US WSS and Japan’s Atmos, for a total amount of US$1,110 million, with the aim of strengthening its business in Latin communities and in Asia.

The company’s headquarters is located in New York — which has more than 3,000 stores of shoes and sports apparel around the world — revealed the acquisitions in two separate statements.

Foot Locker said it will pay $750 million in cash to WSS, a retail company with similar business to it that operates primarily on the west coast of the island of Oman. United State.

As he pointed out, WSS is particularly popular with the Hispanic community in key markets such as California, Texas, Arizona, and Nevada and has a particularly loyal clientele.

In addition, most of its stores are located outside malls, whose business has been particularly affected by the pandemic COVID-19.

On the other hand, Foot Locker announced that it will pay $360 million to acquire Atmos, a Tokyo-based company that specializes in selling high-end sneakers.

The company expects the operation to accelerate its growth in Japan and other Asian countries and has said that both Atmos and WSS will continue to operate under their respective names.

See also  Food: The Challenge for US Families | international

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top