The National Basketball Association (NBA) and global footwear and apparel retailer Foot Locker have announced a multiyear partnership that solidifies Foot Locker as an official league marketing partner in the US.
As part of the agreement, Foot Locker will be advertised on all league platforms, including social media and virtual signage displayed on the floor, and the partnership will interact with spectators at NBA All-Star games. As part of the initiative, Foot Locker’s loyalty programme will offer “extra connection points” throughout the basketball season.
More than fifty members of Foot Locker’s “hype crew” attended an event held at the retailer’s Times Square location in New York City to commemorate the partnership, the release said.
The NBA alliance comes as Foot Locker attempts to use its “Lace Up” strategy to turn around its business. The business unveiled the plan earlier this year, with the goal of streamlining operations by shutting underperforming stores and banners.
The agreement with the sports league is another component of the strategy meant to spur growth and provide value for the retailer’s stakeholders, according to the NBA partnership statement. The partnership follows the introduction of “The Heart of Sneakers,” a new worldwide brand platform by Foot Locker, and a holiday campaign that was inspired by the company’s role in sneaker culture.
“This exciting partnership cements Foot Locker’s position at the center of basketball and sneaker culture and expands our collaborative journey with the NBA,” Frank Bracken, chief commercial officer of Foot Locker, said in a statement.
After three straight quarters of declines, Foot Locker is currently undergoing a turnaround. The retailer revealed its intentions to close hundreds of locations by 2026 along with a 0.3 per cent decline in sales in Q4. Sales continued to decline in Q1, falling 11.4 per cent, and in the retailer’s most recent quarter, sales dropped by 9.9 per cent.
