How Nike, StockX and GOAT changed Foot Locker’s business

Foot Locker dominates the brick and mortar footwear category as the largest footwear retailer in the world. Its 2,900 stores around the world span multiple brands, including Lady Foot Locker, Kids Foot Locker, and Champs Sports.

Since 2015, however, digital sneaker retailers have grown rapidly with the creation of online marketplaces such as StockX and GOAT. New brick and mortar streetwear stores such as Flight Club and Stadium Goods also entered the market.

The sneaker business experienced unprecedented growth in 2020 and is expected to reach $ 120 billion by 2026, according to research firm Statista. Cowen and Company dubbed athletic shoes an “alternative activity class” this year. But sneaker robots wreaked havoc on the industry, posing a further challenge to Foot Locker’s business.

Watch the video above to learn more about Foot Locker’s business.