Foot Locker invests $3m in “QVC for millenials” app NTWRK

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Foot Locker has invested $3 million in NTWRK, the ecommerce content platform dubbed “QVC for millennials”.

NTWRK is an ecommerce app which hosts one live shopping event per day enlisting the help of major celebrities, including Drake, Lebron James and A$AP Ferg, to promote a singular item which can be purchased through the app.

“NTWRK’s innovating and engaging content platform is pioneering the way brands tell their stories and the way youth culture shops,” Foot Locker’s chairman Richard Johnson said.

“At Foot Locker, we are focused on continuing to elevate the customer experience and investing for growth, and our partnership with NTWRK reflects our commitment to driving our business in new and exciting ways. We look forward to working closely with Aaron and the NTWRK team to deliver exclusive products and experiences for our customers and extend our reach in youth culture.”

READ MORE: “QVC for millennials” NTWRK secures second round of funding and backing from Drake and Live Nation

This marks the latest tech-focused investment from the footwear giant, which purchased a $100 million minority stake in online sneaker resale platform Goat, alongside further investments in Carbon38, Pensole and Super Heroic.

NTWRK’s chief executive Aaron Levant added: “We are excited to partner with Foot Locker on this journey, further enhancing what experiential commerce means to the consumer. Given Foot Locker’s strong, global track record for retail leadership, we collectively aim to exceed the expectations of the next wave of consumers.”

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