Foot Locker (NYSE:FL) introduced with its earnings launch on Wednesday that the corporate plans to make its entry into India in 2024. Foot Locker (FL) has entered into long-term licensing agreements with Metro Brands Limited, one in every of India’s largest footwear and equipment specialty retailers, and Nykaa Fashion, a extremely curated style and ecommerce vacation spot showcasing picks from each home and international manufacturers. Metro Brands Limited has been granted unique rights to personal and function Foot Locker (FL) shops inside India and to promote approved merchandise in shops. Nykaa Fashion would be the unique e-commerce associate and can function the Foot Locker India web site in addition to retail approved merchandise on a Foot Locker branded store on the Nykaa platform.

Looking forward, Foot Locker (FL) mentioned the brand new agreements will allow the corporate to effectively entry the massive and rising sneaker market in India, per its efforts to strategically pursue progress alternatives in new markets, and develop the sneaker tradition globally.

Shares of Foot Locker (FL) have been up 9.19% in premarket buying and selling on Wednesday after gaining 3.16% on Tuesday to chop into the year-to-date loss. Short curiosity on Foot Locker stands at 13.0% of the entire float.