Just months after reporting $2.28 billion in Q2 revenue, Foot Locker is expanding its business with a new apparel line.
The sportswear retailer announced LCKR, its first private apparel label since exiting the category three years ago. The line will be available online and in more than 800 stores this week.
Foot Locker senior vice president Bryon Milburn said sneaker culture is a mindset that goes beyond buying sneakers — and “apparel is a part of that mindset.”
The company has also expanded through acquisitions in recent months.
- In August, it bought streetwear and sneaker shop Atmos for $350 million.
- The same day, it purchased athletic retailer WSS for $750 million.
- Foot Locker invested $36 million in its store fleet, digital capabilities, supply chain, and other infrastructure during Q2.
Other retailers, like Dick’s Sporting Goods and Target, have launched in-house athleisure lines — the latter’s All In Motion brand hit $1 billion in sales during its first year.
The athleisure market is expected to reach $549 billion by 2028.