NEW YORK, Feb. 7, 2019 /PRNewswire/ -- Foot Locker, Inc. (NYSE:
FL) ("Foot Locker") announced today that it is making a $100M strategic minority investment through
its subsidiary in 1661, Inc., d/b/a GOAT, a managed marketplace for authentic sneakers operating the GOAT and Flight Club brands ("GOAT Group").
Over time, Foot Locker and GOAT Group will combine efforts across digital and physical retail platforms to create exclusive
customer experiences. The power of Foot Locker's global footprint and GOAT Group's digital capabilities will enable the two
companies to provide an unmatched experience and elevate customer engagement across the entire sneaker industry. The investment
is also expected to help accelerate GOAT Group's global operations, expanding its omnichannel experience and innovative
technologies.
"At Foot Locker we are constantly looking at new ways to elevate our customer experience and bring sneaker and youth culture
to people around the world," said Richard Johnson, Foot Locker, Inc.'s Chairman and Chief
Executive Officer. "We are excited to leverage GOAT Group's technology to further innovate the sneaker buying experience and
utilize their best-in-class online marketplace to help meet the ever-growing global demand for the latest product. Together, Foot
Locker and GOAT Group's shared commitment to trust and authenticity in the sneaker industry will provide consumers with
unparalleled experiences and diversified offerings."
"In 2015, we pioneered the ship-to-verify model with a mission to bring a seamless and safe customer experience to the
secondary sneaker market," said Eddy Lu, co-founder and Chief Executive Officer of GOAT Group.
"With over 3,000 retail locations, Foot Locker will support our primarily digital presence with physical access points worldwide,
bringing more value to our community of buyers and sellers. Having Foot Locker as a strategic partner will also expand our
business as we continue to scale our operations both domestically and internationally."
Scott Martin, Foot Locker, Inc.'s Senior Vice President – Strategy and Store
Development, will join GOAT Group's Board of Directors. This announcement follows Foot Locker's recent investments in innovative,
digital-first companies including leading women's luxury activewear brand Carbon38, tactical play and children's lifestyle brand
Super Heroic, and footwear design academy PENSOLE.
Foot Locker's investment will bring the total raised by GOAT Group to $197.6M since it was
founded in 2015.
About Foot Locker, Inc.:
Foot Locker, Inc. is a specialty athletic retailer that operates approximately 3,220 stores in 27 countries in
North America, Europe, Asia,
Australia, and New Zealand. Through its Foot Locker, Kids Foot
Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02 retail
stores, as well as its direct-to-customer channels, including Eastbay.com, the Company is a leading provider of athletic footwear
and apparel.
About GOAT Group:
GOAT Group is a managed marketplace for authentic sneakers. Its brands offer the greatest selection of sneakers
available through company-operated retail stores, e-commerce sites and mobile apps under the GOAT and Flight Club brands. Through
its innovative technology and service, GOAT Group has changed the landscape of sneaker commerce and has quickly become the
world's most trusted source to discover, buy, and sell authentic sneakers.
Additional information may be found at https://www.footlocker-inc.com
GOAT Group Media Contact: press@goat.com
GOAT Group Website: https://www.goatgroup.com
Logo - https://mma.prnewswire.com/media/803716/Foot_Locker_Inc_Logo.jpg