Foot Locker Goes Shopping In Germany and Buys Athletic Chain Runners Point

By Stephen Fuchs on Email @StephenWFuchs

Runners_Point_Foot_Locker

Foot Locker, the American sportswear and footwear company, has announced its move to buy Germany’s athletic retailer Runners Point Warenhandels GmbH for 72 million euros ($94 million).  The German retailer currently operates over 200 stores under the names Runners Point and Sidestep, as well as the successful online store Tredex.  While most of the retail locations are in Germany, there are a few shops in Austria, Switzerland, and the Netherlands.

Ken Hicks, CEO of Foot Locker, commented that the company is “excited to be adding Runners Point, a fast-growing, multi-format and multi-channel business, to our already-strong European operations.  This acquisition will enhance our position in Germany, the strongest economy in Europe, and also provide us with additional banners to further diversify and expand our European business”

With record sales of 197 million euros ($254 million) last year, the purchase of Runners Point should help Foot Locker with their continued growth efforts throughout Europe.  Once the deal is approved by German merger authorities, Foot Locker will be operating more than 3,500 stores in 23 countries.

 

Sources:  Wall Street Journal, NY Business Journal
Photo Source: Runners Point 84 via Wikipedia

Stephen Fuchs
Stephen founded German Pulse and LGBT Germany out of a passion to introduce Americans to a Germany that goes beyond beer and polka (although with enough beer he has been known to polka it up a bit). He's a coffee addict, lover of wine and good times, a hit in the kitchen and editor of TV commercials. You can follow him on Twitter (@StephenWFuchs) to find out a lot more.
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