Dive Brief:

• Foot Locker launched a new global platform, "The Heart of Sneakers," focused on the retailer's role in sneaker culture, per a press release. The platform will be part of all the brand's campaign, online and in-store experiences, events and more moving forward.
• In addition, Foot Locker has launched its 2023 holiday campaign that features NBA stars who are also brand ambassadors: Kevin Durant with Nike, LaMelo Ball with Puma, Anthony Edwards with Adidas and Steph Curry with Under Armour. 
• The campaign will run across TV, digital out-of-home, YouTube, TikTok, Instagram and other social channels and comes as Foot Locker attempts to execute a turnaround plan during a year CEO Mary Dillon said has been "tougher than expected."

Dive Insight:

Foot Locker has launched a new brand platform and holiday campaign in tandem as it seeks to reassert its ties to sneaker culture and some of the biggest names in the NBA. "The Heart of Sneakers," created by agency of record Preacher, also focuses on the brand's referee-styled store associates, known as Stripers.

"For nearly 50 years, our authentic connection to sneaker culture and our Stripers have been the magic behind Foot Locker... We'll continue to put the heart of our company's DNA front and center in communities globally, creating an unrivaled experience only found at Foot Locker," said Kim Waldmann, global chief customer officer at Foot Locker, in a statement.

The brand's 2023 holiday campaign revolves around the connection between sneaker culture and basketball. NBA stars, plus singer Enisa, feature in spots that show how Stripers bring "hype for the holidays." In ads soundtracked by Wiz Khalifa's "Hype Me Up," Puma ambassador Ball teams with Stripers to ready a court for night basketball with glow-in-the-dark paint, while Adidas spokesperson Edwards calls on Stripers to hype up a young fan, video game-style.

Foot Locker has previously made sneaker culture a part of its marketing, as have brands as diverse as Chips Ahoy and Lexus, as the sneaker market continues to grow and is estimated by Statista to exceed $100 billion by 2026. Platforms like StockX and GOAT, in which Foot Locker invested in 2019, have helped drive the market but also cut into sales channels of traditional retailers like Foot Locker.

The platform and campaign come as Foot Locker has faced what its CEO has called a "tougher than expected" year that has seen the retailer cut corporate roles, shutter stores and wind down several banners. The company saw sales tumble 9.9% to $1.9 billion in the second quarter. Still, Foot Locker hopes to achieve 25% digital sales by 2026, or close to $2.5 billion, after a turnaround plan that includes, among other things, an expansion of sneaker culture and an improvement of omnichannel operations.