Guggenheim Securities is serving as exclusive financial advisor to Foot Locker, Inc. in connection with this investment, with Skadden, Arps, Slate, Meagher & Flom LLP providing legal counsel. Piper Jaffray and Latham & Watkins are advising Carbon38.
Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, announced today that it has made a strategic investment in Carbon38, taking a minority stake in the world’s destination for women’s luxury activewear. The $15 million Series A funding round brings the total raised by Carbon38 to $26 million since 2013.
Carbon38 is the world’s leading women’s luxury active apparel company. With a single-minded focus on meeting the needs of the modern American woman, Carbon38 provides the wardrobe and platform for women to live life on their own terms. With a highly curated blend of the world’s foremost designers and Carbon38’s exclusive branded label, Carbon38 is a lifestyle brand dedicated to strong, beautiful women everywhere.
Foot Locker, Inc. is a specialty athletic retailer that operates approximately 3,350 stores in 24 countries in North America, Europe, Australia, and New Zealand. Through its Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02 retail stores, as well as its direct-to-customer channels, including Eastbay.com, footlocker.com, and SIX02.com, the Company is a leading provider of athletic footwear and apparel.
The Skadden team includes: M&A partners Thomas Kennedy (Picture) and Ann Beth Stebbins, and associates Colleen Lee (Palo Alto) and Joan Piasta.
Involved fees earner: Thomas Kennedy – Skadden Arps Slate Meager & Flom; Ann Beth Stebbins – Skadden Arps Slate Meager & Flom; Colleen Lee – Skadden Arps Slate Meager & Flom; Joan Piasta – Skadden Arps Slate Meager & Flom;
Law Firms: Skadden Arps Slate Meager & Flom;
Clients: Foot Locker;