Street Journal. The acquisition will see Dick’s Sporting Goods take over Foot Locker’s 3,000 stores in 27 countries, including the U.S., Canada, and Europe. The deal is expected to close in the first quarter of 2022, subject to regulatory approval.
Tyshawn Jones Takes Supreme to Court for $26 Million USD
Pro-skater Tyshawn Jones is making headlines by suing Supreme for $26 million USD, claiming defamation and breach of contract. Jones, who has been associated with the brand for over 13 years, alleges that Supreme terminated their contract as a way to cut costs. The skater also accuses the brand of falsely telling others that he was kicked off for breaching the contract. This legal battle is sure to shake up the streetwear industry.
Maison Margiela Announces Glenn Martens’ Couture Debut
Glenn Martens, the new creative director of Maison Margiela, will be making his debut with the brand’s “Artisanal” Haute Couture collection in July. This marks a new chapter for the fashion house, as Martens brings his boundary-pushing designs to the brand’s couture heritage. While he continues to design for Diesel, Martens’ presence at Margiela is highly anticipated.
Dick’s Sporting Goods Acquires Foot Locker for $2.4 Billion USD
In a major move, Dick’s Sporting Goods has agreed to purchase Foot Locker Inc. for $2.4 billion USD. This acquisition will expand Dick’s international presence, as they take over Foot Locker’s 3,000 stores in 27 countries. The deal is expected to be finalized in 2022, pending regulatory approval. This news has sent shares soaring for both companies.
