Foot Locker, the renowned speciality athletic retailer based in New York, launched its first retailer in Thailand, focusing on the youth demographic and aiming to invigorate the sports activities shoe/sneaker market. The announcement got here from Deepak Tomar, nation general manager and director of MAP Active Adiperkasa, the official licensee for Foot Locker in Thailand, who revealed the store’s opening within the Siam Center final Friday. The retail house spans over 1,321 square metres.
With this launch, Foot Locker marks its thirty third store in Southeast Asia, becoming a member of its substantial outlets within the Philippines and Singapore.
No strings attached revealed that the sportswear, sneakers and lifestyle clothing market in Thailand is worth 30 billion baht and is steadily rising.
“In the post-pandemic period, shoppers are re-engaging in group actions, sports and live sporting occasions, necessitating the newest gear from high brands. Coupled with the enduring popularity of streetwear and a sturdy youth neighborhood, this is the opportune moment for Foot Locker to introduce its Power Store concept, the largest store type of Foot Locker.”
Tomar highlighted that Foot Locker has already garnered considerable recognition amongst Thai shoppers, particularly the younger technology and sneaker lovers who’ve been keenly anticipating its Thailand debut. He expressed confidence that the recently opened retailer will obtain a constructive response, revealing plans for a second Foot Locker store to open this December at The Emsphere, near The Emporium on Sukhumvit Road. Over the subsequent three years, the company plans to open 8-10 Foot Locker shops in Thailand, though specific funding details were not disclosed.
Foot Locker’s product vary consists of over 2,000 athletic items, almost a 3rd of which are unique or limited-edition gadgets. The store also stocks toy brands and caters to youngsters, college students, and clients aged between 14 and mid-30s.
“We quickly slowed expansion due to the impact of the pandemic on the retail sector. However, Foot Locker now intends to renew its growth efforts, focusing on the burgeoning Southeast Asian market, with Thailand being a pivotal vacation spot because of its vibrant retail market and tourist destination.”
MAP Active Adiperkasa has been operating in Thailand for the past 20 years, distributing and advertising quite lots of style, athletic, and toy merchandise. Some of the brands in its portfolio include New Balance, Aldo, Dr Martens, Nine West, Hasbro, and Moose.
The Thailand subsidiary falls underneath PT MAP Aktif Adiperkasa Tbk in Indonesia. Currently, the group generates US$1.5 billion in gross sales across Southeast Asia, to double this determine to US$3 billion throughout the subsequent three years by increasing its licensing agreements with world manufacturers, including New Balance, Aldo, and Foot Locker, within the area, reported Bangkok Post..