NEW YORK, Jan. 17, 2019 /PRNewswire/ -- Foot Locker,
Inc. (NYSE: FL) announced today that it has made a $2 million strategic investment in PENSOLE Inc.,
which operates - the PENSOLE Footwear Design Academy ("PENSOLE").
PENSOLE was founded by former Jordan Design Director and
inspirational educator D'Wayne Edwards. A celebrated member of the
global sneaker community for three decades, Edwards' mission at
PENSOLE is to create a pipeline of new designers for the entire
footwear industry. He does this by offering free tuition and a
learn-by-doing curriculum that teaches students the entire footwear
and apparel design process, from product inspiration and concept
development, to manufacturing and branding.
PENSOLE's success speaks for itself, with 400 graduates
currently working in the sneaker industry since its first class in
2010. This investment by Foot Locker, Inc. deepens Foot
Locker's longstanding partnership with PENSOLE and extends the
companies' relationship across all aspects of the design
process.
"My relationship with Foot Locker goes back over 30 years from
consumer, to designer, to educator and now partner. I am excited to
deepen our relationship with Foot Locker so we can empower
consumers to create their future through innovative educational
programs," said Edwards. "It has always been our joint mission to
foster the next generation of emerging footwear and apparel design
talent, and I am confident that our collaboration will contribute
to the continued growth of the academy, success of our students,
and accelerated innovation in the footwear industry."
Together, Foot Locker, Inc., its vendor partners, and PENSOLE,
will collaborate on new educational programs and the design and
manufacturing of exclusive products for the Foot Locker, Inc.
family of brands. Foot Locker first supported Edwards and his
vision for PENSOLE in 2015 through an annual master class design
competition, "Fueling the Future of Footwear." Thirty students who
have gone through the Foot Locker and PENSOLE Master classes are
currently working in the industry. Foot Locker has also sold three
styles created from the class globally, all of which have had
successful sell-through.
This strategic investment will not only further support Edwards
and the PENSOLE mission, but also give Foot Locker, Inc. and its
vendor partners new access to collaborative design and
manufacturing talent.
"Through this investment, we are excited to extend our
partnership with PENSOLE, an organization that shares our deep
commitment to fostering education and driving design innovation and
excellence in the industry," said Richard
Johnson, Foot Locker's Chairman and Chief Executive Officer.
"PENSOLE's position as a leading footwear design academy will
enable Foot Locker, Inc. to deepen our relationships with our
vendor partners and leverage the next generation of talent across
our brand partners for exclusive consumer-facing concepts. We look
forward to working closely with D'Wayne and PENSOLE's talented students and
world-class faculty, as together we design and produce the footwear
of tomorrow."
About Foot Locker, Inc.
Foot Locker, Inc. is a
specialty athletic retailer that operates approximately 3,270
stores in 27 countries in North
America, Europe,
Asia, Australia, and New
Zealand. Through its Foot Locker, Kids Foot Locker,
Lady Foot Locker, Champs Sports,
Footaction, Runners Point, Sidestep, and SIX:02 retail stores, as
well as its direct-to-customer channels, including Eastbay.com, the
Company is a leading provider of athletic footwear and apparel.
About PENSOLE
PENSOLE's "learn by doing" curriculum
teaches students the entire footwear design process: inspiration,
concept-development, design process, problem solving, materials,
business, networking, marketing, and branding. PENSOLE features the
most sought-after faculty in footwear, comprising both young
professional designers and established footwear design leaders from
the top footwear brands, with more than 100 years combined
experience to help students with their professional development.
Since the first PENSOLE class in 2010, more than 400 graduates have
been placed with major footwear manufacturers worldwide.
D'Wayne Edwards, a celebrated member of the global footwear
community for the last 30 years, founded PENSOLE to give talented
young design students—regardless of socioeconomic background—an
opportunity to learn from the industry's best, without financial
barriers, and to provide the industry with a farm system for the
next generation of footwear designers.
Additional information may be found at:
https://www.footlocker-inc.com/ and or
https://pensole.com/
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SOURCE Foot Locker, Inc.