Foot Locker takes minority stake in Super Heroic
Foot Locker has acquired a $3 million minority stake in an innovative footwear and apparel children’s company.
The New York-based specialty athletic retailer announced on Thursday that it has made a strategic investment in Super Heroic. The company, which aims to inspire children to be more active through play, designs, manufactures and markets innovative footwear, clothing and accessories for children.
As part of the partnership, Kids Foot Locker will be the first brick-and-mortar retailer of Super Heroic products in the U.S. Foot Locker Inc. will also serve as a board advisor to Super Heroic, partnering with the company on various growth initiatives from product to content.
"We are excited to partner with Super Heroic, a company that shares our deep commitment to empowering children through innovative athletic products," said Richard Johnson, Foot Locker's Chairman and CEO, in a news statement.
The investment brings Super Heroic’s total raised funding to $10 million, since it was founded in 2016.
"We are excited to partner with Foot Locker and benefit from its unparalleled expertise in the footwear and apparel markets as we seek to elevate our brand to the next level," added Jason Mayden, Super Heroic's Chief Executive Officer.
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