The footwear industry just experienced a massive shake-up as Dick's Sporting Goods recently announced a $2.4 billion acquisition of rival retailer FootLocker. After promoting themselves as a one-stop shop for everyone's sneaker needs, Dick's will look to expand their command over the sneaker space in attempting to corner the market for the world's most recognizable brand, Nike.

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As of Wednesday's stock market close, FootLocker was down 41% over the last year, making them a prime takeover target for a multi-faceted brand like Dick's. Per CNBC, Dick's Sporting Goods' revenue last fiscal year was reported at $13.44 billion, while FootLocker trailed with $7.99 billion. It clearly hasn't been enough to sustain the massive market and brand FootLocker has built over the last few decades, so the merger comes as an effort to join forces and create an unparalleled shopping experience for consumers.

Dick's CEO Lauren Hobart said of the acquisition, “The combination of them for the consumer is not the most important thing, it’s making sure that there’s two powerful brands that are meeting all consumer needs, wherever, whenever, however they want to shop.”

What this means for consumers?


According to CEO's of both sides, FootLocker will remain as its own entity with sub-brands like FootLocker Kids and Champs Sports still continuing to operate. However, their large stock of various products, including an international market for Nike sneakers that expands throughout 20 countries, will become available to Dick's and will bring DSG into the international market for the first time.

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This, of course, includes all the Air Jordan retro releases that would typically be stocked by FootLocker, now becoming available through Dick's Sporting Goods as well. Nike CEO Elliott Hill also chimed in on the deal, saying: “[Dick's and FootLocker] has their own loyal consumer following and deep understanding of the needs of athletes. I am confident that together, they will help elevate sport and continue to accelerate the growth of our industry.”

Why Nike is crucial to the deal


With wholesaling becoming a pivotal point of business with new overseas tariffs coming to order, the acquisition will be a massive focal point on the Nike market and their ability to reach customers. Dick's will become the overarching arm of several sneaker retailers, giving them the most control over the Nike empire.

With their expansive stock of hunting, workwear, and lifestyle sneakers as well, Dick's Sporting Goods will become a one-stop destination for footwears needs of all varieties. With their recent “Dick's has Kicks” campaigns with athletes like Tom Brady and Kevin Durant, we could have seen this move coming and it'll be interesting to see how this changes the sneaker landscape.