Tokyo-based footwear retailer Atmos, which was acquired by Foot Locker in 2021, is reportedly closing its three stores in North America and halting all online operations in the region. The aforementioned stores are none other than those in the cities of Philadelphia (1509 Walnut Street), New York City (203 West 125th Street), and Washington, D.C. (3124 M Street NW).
In 2020, Atmos made its entry into the U.S. market through a merger with the renowned sneaker boutique Ubiq. Following this merger, they have been operating in the United States under the name Atmos USA. Later, in August 2021, Foot Locker acquired Atmos, along with the footwear chain WSS, in a significant deal worth $1.1 billion. And in the second quarter, Atmos experienced a 10 percent decline in same-store sales. Which is attributed to a rebound in tourism in Japan offset by fewer product launches.
Why is Atmos Closing Down in North America?
According to Patrick Walsh, Senior Vice President and General Manager of Atmos, Atmos possesses a distinctive and authentic identity. He further stated: “We are confident that this is the right move for Atmos and will help us continue to work in service of bringing sneaker and street culture to our customers in Asia.”
And given its strength in Japan and Asia, the company plans to make further investments in those markets instead of other regions. So, Atmos chose to strategically close its three North American stores. As well as its U.S. website as part of its simplification strategy. Most importantly, the company believes that this move towards closure aligns with its commitment to serving the sneaker culture. A cause they strongly believe in.
Let’s Kick It Back To Atmos x Adidas!
Atmos and Adidas Originals had a good run as they teamed up with Japanese graffiti artist Cook on the Campus 80 collection. This hyped collection drew inspiration from the Campus kicks worn by Cook during his artistic journey, capturing their unique post-creation charm. And these kicks came in two stylish colorways!
We had a sleek black option and a vibrant green/yellow combo. Not to mention that they came with limited vinyl figures showcasing Cook’s signature characters as part of this special project.
Can we expect some new collabs anytime soon?
Is Inflation The Culprit?
The Atmos situation sure does ring a bell, as many stores have been cutting costs due to high inflation.We’ve most recently witnessed Foot Locker deciding to take the challenging step of closing down up to 600 of its brick-and-mortar stores spread across the United States by the year 2026.
This prudent cost-saving measure has been expedited by the escalating preference among buyers for online shopping. A trend that has gained significant momentum post covid lockdown.
And while Foot Locker‘s strategic realignment underscores its commitment to fiscal efficiency, it poses a potential inconvenience for avid footwear aficionados. The reduction in physical store presence significantly limits the range of in-store options available to customers for hands-on trials and immediate purchases.
Without a doubt, this shift marks a substantial transformation in how consumers engage with and procure their preferred sneaker brands. The retail landscape sure is evolving! But it does give you higher chances to cop using the best bots out there! As always stay tuned for more sneaker news!
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