Foot Locker to sell team sales business to Varsity Brands’ BSN Sports
Foot Locker is getting out of the high school and college team sales business as it continues to sharpen its focus on consumer sales.
The specialty athletic giant has signed an agreement to sell its team sales business to BSN Sports, one of the nation's largest direct marketers and distributors of sporting goods, footwear, apparel, and branding to the school and league markets. The terms of the deal were not revealed.
Foot Locker noted that its team sales business has historically accounted for less than 1% of the company’s annual consolidated sales, which totaled $9.0 billion in fiscal 2021. The retailer acquired the business through its purchase of Eastbay in 1997.
"We are very pleased for the Team Sales business to become part of BSN Sports," said Richard Johnson, Foot Locker chairman and CEO. "For more than three decades, the Team Sales business has connected directly with high school coaches and athletic directors across the U.S. to offer the best performance product and a premium service level, and we are confident that the business and its experienced team of professionals have a promising future as part of the BSN Sports organization.”
[Read More: Foot Locker shifting vendor mix: less Nike, more DTC; opening more off-mall stores]
Foot Locker also said that it will fully consolidate the Eastbay.com retail website into the Champs Sports banner, completing the integration of those two banners that began in 2019.
BSN Sports markets and distributes its products to over 150,000 institutional and team sports customers in colleges and universities, middle and high schools, and recreational programs throughout the United States via catalog, e-commerce, and direct sales.
Varsity Brands, BSN’s parent company, is a portfolio company of Bain Capital Private Equity.