US athletic wear retailer Foot Locker has acquired a minority stake in women’s luxury activewear brand Carbon38 in a deal valued at US$15m.
The move brings the total raised by Carbon38 to US$26m since 2013. “We have admired the Carbon38 story and mission since we met three years ago,” says Lauren Peters, Foot Locker EVP and finance chief.
As part of the partnership, Peters will join Carbon38’s board of directors. “Katie and the team at Carbon38 have done an amazing job creating a brand with an extremely loyal following in the fitness and fashion worlds,” she adds.
“In addition to the support of Carbon38’s exceptional growth potential that our investment provides, we expect to leverage the team’s keen industry insights and focus in order to elevate our own SIX:02 banner’s performance.”
Carbon38 said it intends to use the funds to accelerate growth.
“We are excited to have Foot Locker as an investor as we continue to scale our business and expand our omni-channel strategy, both in the US and internationally,” says Katie Warner Johnson, Carbon38 co-founder and CEO. “This funding enables us to accelerate our path of rapid growth and achieve our mission of defining a new category of luxury active ready-to-wear for women.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
