US-headquartered athletics retailer Foot Locker has completed its US$360 million acquisition of digital-first Japanese sneaker retailer Atmos.
Atmos’s founder, Hidefumi Hommyo, and the entire Atmos team have transferred to the Foot Locker family and Richard Johnson, chairman and CEO of Foot Locker, said his company “deeply values” Atmos’s unique brand, innovative, experiential stores, premium offerings, collaborations and understanding of sneakerhead culture.
“Atmos expands our global reach in the rapidly growing Asia-Pacific market, establishes a critical entry point in Japan and allows us to benefit from immediate scale. We are excited about the many opportunities we will collectively be able to capture as a result of this partnership as we continue creating significant long-term value for our shareholders, consumers, vendor partners, and employees,” he said.
Hommyo said the partnership of the two brands would help Atmos take dynamic and exciting sneakers to more people around the world.
“Atmos was founded with a love of sneakers and a passion for innovation, and with Foot Locker as our partner, we have the opportunity to drive global growth while maintaining what makes us unique. We have worked with Foot Locker for years on product collaborations and partnerships, and we are excited about what is ahead as we pursue our shared passion for sneaker culture, streetwear, creativity and self-expression.”
Post takeover, Atmos will retain its brand name, identity, brand ethos, and unique value proposition. The two companies said in a statement that Foot Locker is committed to building on Atmos’s strong foundation to drive a new phase of growth.