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In The News: Bungee Oblečení, And1, Avia, Galaxy Universal, Aerosoles, Foot Locker, atmos

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Bungee Oblečení, a Black-owned luxury footwear and apparel brand based in Philadelphia, has struck a distribution deal with Foot Locker. CEO Darrell Alston, the brand’s lead designer, first conceptualized the brand in 2007, brainstorming the sneaker line while he was incarcerated. Said Alston, “Not too long ago, I was sketching designs in a shared 50 square-foot cell as an inmate at Graterford Prison and now, I am literally living my dream. I am grateful and incredibly excited.” After his release, Alston continued pursuing his passion and designing sneakers, eventually saving enough money working as a barber to have a sample shoe made. Today, Alston says he is passionate about speaking to groups of young people in the community to encourage them to stay focused and pursue their own dreams. The label will begin showing up in Philadelphia area Foot Lockers on Nov. 6 and online before expanding distribution to other doors in December and Spring 2022.


Galaxy Universal, a portfolio company owned by Gainline Capital Partners, is acquiring the And1, Avia, Gaiam and SPRI brands from Sequential Brands Group for approximately $330 million. KKR will participate in the deal as a co-investor. The transaction is projected to close by Nov. 15. Earlier this year, Galaxy acquired Apex Global Brands, which includes Hi-Tec, Magnum and Tony Hawk. It also has licensing deals in place with other labels, including Justice and London Fog.


Foot Locker completed its $360-million purchase of atmos, a digitally led, premium global retailer based in Japan. Atmos, which will retain its brand name under FL ownership, is forecast to generate low-double annual sales growth and low double-digits to mid-teens EBITDA margins over the next five years.


Aerosoles is partnering with American Exchange Group on a value-oriented footwear collection for the mass and off-price retail channels. The moderately-priced range will be available in select retailers in Spring 2022. AEG will provide Aerosoles with a design, branding and sourcing strategy.


Asics is partnering with the National Alliance on Mental Illness (NAMI) during the holiday season to support mental health awareness and resources. Between Nov. 1 and Dec. 31, the brand’s U.S. customers will have the option to donate to NAMI during checkout at ASICS.com. The company will match all donations up to $500,000 total.


Dick’s Sporting Goods is opening its second outdoor-focused Public Lands store in Columbus, OH and second Golf Galaxy Performance Center in Woodbury, MN on Nov. 5. Additionally, the retailer is opening two Going, Going, Gone discount stores in Tempe, AZ (Nov. 3) and Pittsburgh, PA (Nov. 10) this month and new Warehouse Sale format in Virginia Beach, VA and Lakewood, CA, each on Nov. 15.


L.L. Bean hired commercetools, in a multi-year deal, to modernize its commerce architecture. The Freeport, ME company says the pandemic ignited its need to digitize its brand experience across channels with enhanced in-store and online experiences for its customers. Beyond its Maine campus and 25 stores in Japan, L.L. Bean currently operates 54 U.S. stores across 19 states.


Scheels announced plans to open a 240,000-sq. ft. store in Meridian, ID, west of Boise, in Spring 2024 in a mixed-use development encompassing 300 acres. It will be the banner’s 33rd door. The family-owned business currently operates 30 stores across 13 states.

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Nov 3, 2021

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