Foot Locker has made another strategic investment in an early-stage company, this time on Launch Kids, a children's apparel company based in New York City that operates under the trade name Rockets of Awesome. The $12.5 million investment—part of a Series C round of capital funding worth $19.5 million for Rockets—will enable Foot Locker to set up shops-in-shops and become the largest retailer for Rockets of Awesome in the U.S. It will also offer the company's apparel on its kidsfootlocker.com website.
Rockets of Awesome is a digital-first company, with no retail footprint. Its items are priced at $16-$38 and come in sizes 3 to 12. Customers can either purchase merchandise from its website in the traditional e-commerce manner or opt for a subscription. Every season, or four times a year, subscribers receive a box of eight items selected by the company on the basis of a “Style File” questionnaire. Subscribers can browse through the box online before it is mailed out and return any items within five days of the box's arrival. Other delivery schedules are possible.
As we have previously reported, Foot Locker has recently made similar investments in the Goat Group, an online marketplace for second-hand sneakers; Carbon38, the women's luxury activewear brand; Super Heroic, a brand of children's shoes; and Pensole, the footwear design academy.