Foot Locker Invests in Children’s Apparel Startup
On the heels of Foot Locker’s investments in digital first companies including managed marketplace for authentic sneakers, GOAT Group, women’s luxury activewear brand, Carbon38, tactical play and lifestyle brand, Super Heroic, and footwear design academy Pensole, the retailer has made a $12.5 million minority investment in Launch Kids, Inc., d/b/a Rockets of Awesome, a New York-based children’s apparel company. Foot Locker’s investment is part of Rockets of Awesome’s $19.5 million Series C capital raise.
Rockets of Awesome simplifies the way parents shop by delivering high-quality, on-trend, handpicked pieces directly to customers. Each piece is priced $16-$38, suitable enough for the playground and a birthday party, and is mix-and-matchable so kids can easily dress themselves. The brand is available in sizes 3-12 on their e-commerce site and through their personalized, seasonal box solution. Rockets of Awesome leverages its technology and data to drive new merchandise R&D and provide a convenient shopping experience for parents and kids.
The investment in Rockets of Awesome enables Foot Locker to enhance its commitment to the kids’ apparel segment, while further diversifying its customer base and expanding its product offerings. As part of Foot Locker’s strategic partnership, Kids Foot Locker will create exclusive Rockets of Awesome shop-in-shop destinations and be the largest retailer of Rockets of Awesome products in the U.S. Rockets of Awesome merchandise will also be available on kidsfootlocker.com.
“Rockets of Awesome is advancing the way parents shop for their kids and Foot Locker is committed to evolving with the ever-changing retail landscape and adjusting to the speed of our customers,” states Richard Johnson, Chairman and CEO. “We are excited that our partnership with Rockets of Awesome will enable Kids Foot Locker to deliver new, innovative products and experiences. We look forward to collaborating with them on brand development, product collections, and go-to-market plans to help realize additional growth for both companies.”
The investment by and partnership with Foot Locker provides Rockets of Awesome with additional resources to build out an integrated omnichannel customer experience. This funding also enables them to continue scaling at an exceptionally fast rate, leveraging Foot Locker’s expertise and resources to engage in opportunities beyond what is possible through traditional venture investments.
“Our partnership with Foot Locker is a powerful validation of Rockets of Awesome’s ongoing progress in our mission to simplify parents’ lives and enable them to celebrate real life with their kids,” states Rachel Blumenthal, Founder and CEO of Rockets of Awesome. “With Foot Locker’s support, we look forward to bringing our unique, high-quality merchandise and convenient shopping experience to even more families everywhere.”
A collection featured on Rockets of Awesome’s home page.