In a bold move, Macy’s Inc. and The Finish Line Inc. are joining forces.
Starting next spring, Finish Line-branded athletic footwear shops will debut in more than 450 Macy’s department stores in the U.S. and online at Macys.com. (The retailer also will manage athletic assortments across the remaining 250 Macy’s doors that do not have special branded shops.)
The move makes Finish Line the exclusive athletic shoe partner for men’s, women’s and kids’ shoes at Macy’s.
In the long term, the deal is expected to result in additional sales of $250 million to $350 million annually at Finish Line. (The Indianapolis retailer will pay a licensing fee to Macy’s.)
“Finish Line is a widely recognized expert in athletic footwear for men, women and kids, including the best brands, newest technology and most current styles. We believe the enhanced footwear assortment they will bring to our customers at every full-line Macy’s store nationwide, as well as on Macys.com, complements our rapidly developing offering of activewear merchandise,” Jeff Gennette, Macy’s chief merchandising officer, said in a statement.
“This exciting agreement announced today with Macy’s propels Finish Line further as a leading omnichannel retailer,” added Glenn Lyon, chairman and CEO of Finish Line, in the statement. “Macy’s large and profitable store portfolio, its customer base that is concentrated in a demographic that Finish Line has not penetrated to date, and most importantly, its customer-centric philosophy and omnichannel focus make them an ideal partner for us to broaden our reach beyond our bricks-and-mortar stores and our website.”
The move follows Macy’s debut of the world’s largest shoe department at its New York flagship earlier this month.
For more, check back at Footwearnews.com later today.