Foot Locker Inc. announced that it has made a strategic investment in Carbon38, taking a minority stake in the specialist in women’s luxury activewear. The $15 million Series A funding round brings the total raised by Carbon38 to $26 million since 2013.
“We have admired the Carbon 38 story and mission since we met three years ago,” said Lauren B. Peters, Foot Locker Inc.’s executive vice president and chief financial officer. As part of the partnership, Peters will join Carbon38’s board of directors. “Katie and the team at Carbon38 have done an amazing job creating a brand with an extremely loyal following in the fitness and fashion worlds. In addition to the support of Carbon38’s exceptional growth potential that our investment provides, we expect to leverage the team’s keen industry insights and focus in order to elevate our own SIX:02 banner’s performance.”
“We are excited to have Foot Locker as an investor as we continue to scale our business and expand our omni-channel strategy, both in the U.S. and internationally,” said Katie Warner Johnson, Carbon38 co-founder and CEO. “This funding enables us to accelerate our path of rapid growth and achieve our mission of defining a new category of luxury active ready-to-wear for women.”
Guggenheim Securities is serving as exclusive financial advisor to Foot Locker, Inc. in connection with this investment, with Skadden, Arps, Slate and Meagher & Flom LLP providing legal counsel. Piper Jaffray and Latham & Watkins are advising Carbon38.
Carbon38’s website is HERE.
Photo courtesy Carbon38
