February 27, 2019 News

Morrison Cohen Represents Foot Locker in Strategic Investments in Digital Retailers

February 27, 2019 – Morrison Cohen LLP advised Foot Locker, Inc. in its strategic investments in two innovative digital retailers, GOAT and Rockets of Awesome.

The Firm advised Foot Locker in its $100 million strategic investment in 1661, Inc. d/b/a GOAT, a managed marketplace for authentic sneakers operating the GOAT and Flight Club brands.  Over time, Foot Locker and GOAT will combine efforts across digital and physical retail platforms to create exclusive customer experiences.  The power of Foot Locker's global footprint and GOAT's digital capabilities will enable the two companies to provide an unmatched experience and elevate customer engagement across the entire sneaker industry.

Also, the Firm advised Foot Locker in its $12.5 million strategic investment in Launch Kids, Inc., d/b/a Rockets of Awesome, a New York City-based children's apparel company.  The investment by and partnership with Foot Locker provides Rockets of Awesome with additional resources to build out an integrated omnichannel customer experience.  This funding also enables them to continue scaling at an exceptionally fast rate, leveraging Foot Locker's expertise and resources to engage in opportunities beyond what is possible through traditional venture investments.

The Morrison Cohen team advising Foot Locker included Steven M. Cooperman, Anthony M. Saur, Michael S. Barry and Timur N. Eron.