Nike and Foot Locker to Open Basketball Retail Stores

Nike Inc. and Foot Locker Inc. expect to open up to 50 "House of Hoops by Foot Locker" retail stores in the United States over the next three years, creating a new brand and community-oriented retail experience that celebrates the culture of the game for basketball consumers. House of Hoops will be a "hub for all things basketball," offering exclusively Nike, Jordan and Converse basketball footwear, apparel and equipment product. The first House of Hoops store is expected to open in early 2008 on 125th Street in New York, converting an existing Foot Locker location in Harlem. "House of Hoops will give consumers who live and breathe basketball culture a unique retail experience not seen in the market today, offering a selection of the game's most premium athletic footwear, apparel and equipment brands," says Charles Denson, president of the Nike brand. "We're pleased to partner with Foot Locker on this concept. House of Hoops reflects our growth strategy-focus on the consumer, create the marketplace, and deliver elevated brand experiences."