Foot Locker invests 3 million USD in NTWRK
By Marjorie van Elven
25 Sep 2019
American footwear retailer Foot Locker Inc has announced a strategic investment of 3 million US dollars in the ecommerce and content platform NTWRK, as part of a series A funding round raising a total of 10 million US dollars.
Founded a year ago and headquartered in Los Angeles, NTWRK combines content creation and episodic programming to sell exclusive collaborations between coveted brands and big names in pop culture, such as G-Shock + Gorillaz, Puma + Helly Hansen, and Guess Originals + Seinfeld.
Commenting on the decision to invest on the platform, Foot Locker’s Chairman and CEO Richard Johnson said in a statement: “NTWRK’s innovating and engaging content platform is pioneering the way brands tell their stories and the way youth culture shops. At Foot Locker, we are focused on continuing to elevate the customer experience and investing for growth, and our partnership with NTWRK reflects our commitment to driving our business in new and exciting ways”.
Johnson also emphasized that many of NTWRK’s recent partnerships include brands that are complementary to Foot Locker’s offerings, such as Nike, Jordan, Adidas, Puma, Champion and New Balance.
NTWRK is led by CEO Aaron Levant, who previously served as Senior VP at Reed Exhibitions, where he founded The Agenda Show, one of the largest streetwear trade shows in the United States. "NTWRK is building the content platform and retail marketplace of the future through an approach that has undeniably elevated the consumer experience. We are excited to partner with Foot Locker on this journey, further enhancing what experiential commerce means to the consumer”, said Levant in the same statement.