Update: In the video I incorrectly stated that The NTWRK was created in conjunction with ReedSpace by Jeff Staple. It was actually founded by Aaron Levant.
FootLocker is a multi-billion dollar company that doesn’t make decisions on whim. They have been strategically investing in businesses since last year. Some of the investments are private label clothing and others have been subscription programs, but the investments garnering the most attention have been in the 3rd party e-commerce space. The investment into GOAT was eye opening and now FTL has invested in a year old start-up with ties to Reed Space. For those of you not in the know, Jeff Staple is the founder of Reedspace and The NTWRK is a branch of the Pigeon Dunk creator.
With only 1 year under its belt is The NTWRK worth a 3 Million dollar investment? Was it too soon?
I think FootLocker is making a play to counter Complex, HBX and Highsnobiety all brands and blogs that continue to move towards a place where they could enter into the marketplace as brick and mortar and serious e-commerce competitors.
With the launch of (Greenhouse) and now an investment in the mobile video e-commerce NTWRK does FootLocker have a foundation to begin accessing the highly profitable streetwear market?
