Photo: Foot Locker Inc.
The athletic specialty retailer, Foot Locker, Inc. has been reported to expand its business in Indonesia through a partnership with MAP Group. The Company has signed an exclusive licensing agreement with PT MAP Aktif Adiperkasa Tbk. (MAPA.JK), the subsidiary of PT Mitra Adiperkasa Tbk. (MAPI.JK).
Through this partnership, there are 2 (two) new Foot Locker stores and 1 (one) local website that will be opened in the holiday session on the 4th quarter of 2021. The Company then will look to grow the market and open more stores in 2022 across Indonesia.
Before partnering with Foot Locker, MAP Group has signed an agreement with Subway® to bring this largest restaurant brand in the world to Indonesia in August 2021. The initial Subway® restaurants are also planned to be launched by Q4 2021 in the Greater Jakarta region.
“We have been seeking to partner with outstanding global retailers who can complement our goals to maximize the growth potential of brands. Foot Locker’s iconic status at the center of sneaker and youth culture is unprecedented, and we are sure its omni-channel retail model will add another dimension for Indonesian malls and consumers,” said V.P. Sharma, CEO at MAP Group.
Scott Martin, Executive Vice President and Chief Executive Officer Asia Pacific and Chief Strategy & Development Officer, at Foot Locker, Inc also stated, "Foot Locker is committed to creating unrivaled customer experiences around the globe. Partnering with MAPA will help us deliver on that commitment in an incredibly important market with long-term growth potential. Foot Locker’s mission to empower and inspire youth culture paired with its love of sneaker culture, complements MAPA’s expertise in brand commerce on the ground, which includes the management and marketing of some of the world’s most notable brands in various regions of ASEAN. Together, we look forward to doing great things.”
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