As part of a recently signed multiyear agreement, Foot Locker has become an official National Basketball Association league marketing partner in the U.S., unlocking a multitude of brand-building benefits for the struggling retailer.
The collaboration will engage fans throughout the NBA season, including at marquee events like the NBA All-Star Game, and Foot Locker will receive media exposure across platforms including on-court virtual signage and on NBA social channels. The partnership also extends to Foot Locker’s FLX loyalty program, providing additional connection points for customers.
Foot Locker executives see the expansion of its partnership with the NBA as a key part of its Lace Up Plan, which includes expanding investment in digital as the retailer seeks to grow its revenues to $10 billion annually. Although the retailer is effectively zeroing in on community-driven efforts and creating more tailored store experiences, it is still seeing poor financial results. In Q2 2023, which ended July 29, 2023, total sales decreased by 9.9% and comp store sales decreased by 9.4% as a result of a “still-tough consumer backdrop,” according to President and CEO Mary Dillon.
However, Foot Locker remains optimistic, noting that this partnership in particular “cements Foot Locker’s position at the center of basketball and sneaker culture and expands our collaborative journey with the NBA,” said Frank Bracken, EVP and Chief Commercial Officer at Foot Locker in a statement. “We look forward to working together to create unforgettable events and experiences that further engage NBA fans and our customers in support of our Lace Up plan.”
The retailer and the league have a collaboration history dating back to 1999. “We are thrilled to deepen our partnership with Foot Locker, a brand entrenched in basketball and pop culture,” said Salvatore LaRocca, President of Global Partnerships at the NBA in a statement.
The NBA itself has been moving further into physical retail, most recently with the opening of its second U.S. flagship store, located in Houston.