Foot Locker has acquired Japanese sneaker retail brand Atmos for US$360 million in cash. With this move, Foot Locker now owns one of the most influential brands in the Asian sneaker and streetwear scene.
The acquisition includes all Atmos stores including the 39 stores based in Japan and 10 stores in places like Malaysia, Indonesia and New York. Foot Locker also now owns Atmos Pink, Atmos’ women-focused brand.
Atmos’ new store across the causeway: Atmos is coming to Kuala Lumpur, Malaysia!
Atmos will continue to operate under its current brand name but sit under the Foot Locker umbrella of brands after the deal closes in late 2021.
“Atmos is uniquely positioned through its innovative retail stores, high digital penetration and distinctive products that have made it a key influencer of youth and sneaker culture. With Atmos, we are executing against our expansion initiative in the rapidly growing Asia-Pacific market, establishing a critical entry point in Japan and benefitting from immediate scale,” Foot Locker Inc. Chairman and CEO Dick Johnson said in a statement.
As part of its acquisition spree, Foot Locker also bought over American sneaker store WSS for US$750 million to woo Latin American sneakerheads in the US.