adidas and Foot Locker, Inc. Announce New Long-Term Strategic Partnership

Partnership Advances Shared Commitment to Sports Community and Sneaker Culture

HERZOGENAURACH, Germany and NEW YORK, May 5, 2022 /PRNewswire/ — adidas AG (XETRA: ADS.DE) (“adidas”), a global leader in the sporting goods industry, and Foot Locker, Inc. (NYSE: FL) (“Foot Locker”), the New Yorksports-focused retailer, today announced a new and enhanced partnership built on product innovation, enhanced experiences and deeper consumer connectivity. This enhanced relationship will establish Foot Locker as adidas’ premier basketball partner, accelerate energetic and fashionable launches, as well as include the development and expansion of key franchises for women, kids and clothes. Including all Foot Locker banners in North AmericaEMEA and Asia Pacificthe new strategic partnership will target more than $2 billion retail sales by 2025, almost tripling compared to 2021. In 2022, adidas expects to generate additional revenue of up to €100 million from this new partnership.

“We are excited to deepen our partnership with Foot Locker as we continue to execute on our ‘Own the Game’ strategy,” said the adidas CEO. Kasper Rorsted. “Consumers will be at the heart of this exciting collaboration and will be able to experience the adidas brand and its key product franchises, as well as new product innovations, at Foot Locker, stronger than ever.”

“We are excited to strengthen our partnership with adidas as we continue our strategy to expand our selection of footwear and apparel for the athletic and sneaker communities,” said Richard A. JohnsonPresident and CEO of Foot Locker, Inc. “This close partnership will allow us to bring consumers even more unique and premium products from iconic brands, as well as accelerate our push into apparel, adding a new dimension to our assortment and bringing more customers into our ecosystem.”

Foot Locker will lead adidas’ basketball offering, led by Fear of God founder and designer jerry lorenzo, covering the lifestyle and performance categories, and developing exclusive positions in both areas. Additionally, the collaboration will focus on major Originals franchises including NMD, Superstar and Stan Smith, and the adidas Influencer Partnerships portfolio. It will also include a lead role for Foot Locker in launching adidas’ new Sportswear product division targeting the lifestyle consumer.

To execute the new plan, adidas will provide Foot Locker with a dedicated team to deliver an enhanced customer experience both in-store and online to help create demand and elevate the market. This will involve partnership on product development, exclusive Foot Locker positioning, increased product allocations, shared marketing spend and a high premium presence across Foot Locker’s entire banner portfolio, with a particular focus on the key cities and communities that the companies jointly serve. Finally, to provide consumers with a seamless consumer journey both online and offline, the two partners will strengthen their digital orientation and accelerate the rollout of the adidas Partner Program at Foot Locker.

Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Except for statements of historical fact, all statements that address activities, events or developments that adidas and/or Foot Locker believe will or may occur in the future are forward-looking statements. These forward-looking statements are based on the current expectations and beliefs of adidas and Foot Locker regarding future developments and their potential effects on both companies and are subject to a number of risks and uncertainties, many of which are unpredictable and beyond the control of adidas and Foot Locker. Any change in these assumptions or factors could produce materially different results. adidas and Foot Locker disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

About adidas
adidas is a global leader in the sporting goods industry. Headquarters in Herzogenaurach/Germanythe company employs more than 61,000 people worldwide and had sales of €21.2 billion in 2021. For more information, visit www.adidas-group.com.

About Foot Locker, Inc..
Foot Locker, Inc. leads the celebration of sneaker and youth culture around the world through a portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS and Sidestep. With approximately 2,900 retail stores in 28 countries across North America, Europe, Asia, Australiaand New Zealand, as well as websites and mobile apps, the company’s goal is to inspire and empower youth culture around the world, fueling a shared passion for self-expression and creating unparalleled experiences at the heart of the global sneaker community. Foot Locker, Inc. is headquartered in New York. For more information, please visit www.footlocker-inc.com.

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SOURCE Foot Locker, Inc.

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