Nike, Foot Locker Team for Retail Promo
Nike Inc. and Foot Locker have teamed up to open 50 basketball and apparel shops in the U.S. over the next three years.
The stores, called House of Hoops by Foot Locker, will serve as the “hub” for all things basketball and feature Nike, Jordan and Converse footwear, apparel and equipment. The first location is expected to open in 2008 in New York.
The effort to expand its retail experience is part of Nike’s long-term growth strategy, the company said. Other categories it plans to focus on include running, soccer, women’s fitness, men’s training and sports culture.
Other locations include Las Vegas, Chicago, Houston and Los Angeles. A majority of the stores will be converted Foot Locker locations, but some new ones will be built, the companies said.
“House of Hoops will give consumers who live and breathe basketball culture a unique retail experience not seen in the market today, offering a selection of the game’s most premium athletic footwear, apparel and equipment brands,” said Charles Denson, president of the Nike brand, in a statement. “We’re pleased to partner with Foot Locker on this concept. House of Hoops reflects our growth strategy-focus on the consumer, create the marketplace, and deliver elevated brand experiences.”
Financial terms were not disclosed.
