Foot Locker Invests In Children's Clothing Brands Online, Aiming To Reach Young Consumers

- Feb 28, 2019-

Rockets of Awesome, the online children's clothing brand, has completed a $19.5 million C round of financing, including $12.5 million invested by Foot Locker, the largest footwear retailer in the United States, according to CNBC. It is understood that Foot Locker participated in this round of financing in order to maintain close contact with young consumers.

Before Foot Locker invested in Rockets of Awesome, they had invested in Goat, Super Heroic, Carbon 38 and Pensole, an online sneaker resale platform.

"In the long run, we will insist on improving customer experience and making some investments." Dick Johnson, president of Foot Locker, said in an interview with CNBC. He also revealed that the company is actively "acquiring the ability and talent of companies to innovate and build unique brands through investment and cooperation" in order to better keep up with the "changing youth culture".

As an online retail brand, Rockets of Awesome doesn't have many physical stores. At best, it does some offline flash shop activities. But after the financing, Rockets of Awesome will open mini-stores in Foot Locker children's equipment stores across the country.

For this cooperation, Rachel Blumenthal, president of Rockets of Awesome, said, "In an increasingly competitive environment, this investment also provides us with a new way of thinking. We can learn from each other and exchange our professional knowledge so that we can gain advantages in our respective fields.