Foot Locker invests in luxe women's activewear brand Carbon38
Foot Locker has made a strategic investment of $15 million in Series A funding in luxury women's activewear marketplace, Carbon38. Brands sold on the site include Alo Yoga, Adidas by Stella McCartney, and Beyoncé's Ivy Park.
Lauren B. Peters, Foot Locker Inc.'s Executive Vice President and Chief Financial Officer said that Foot Locker is of the view that Carbon38 has "done an amazing job creating a brand with an extremely loyal following in the fitness and fashion worlds." Peters explained that Foot Locker plans to "leverage [Carbon38's] keen industry insights and focus in order to elevate our own Six:02 banner's performance." In addition to becoming a minority shareholder in Carbon38, Peters will assume a role on Carbon38's Board of Directors. Katie Warner Johnson, Carbon38 co-founder and CEO said that Foot Locker's "funding enables [the brand] to accelerate our path of rapid growth and achieve our mission of defining a new category of luxury active ready-to-wear for women." Carbon38 sells over 100 brands on its site, covering active lifestyle and athleisure labels including Norma Kamali, Aviator Nation, and Canada Goose. The site also sells private-label Carbon38 and separate Carbon38 artist collaborations. With the addition of Foot Locker's $15 million investment, Carbon38 has raised a total of $26 million in Series A funding since 2013.