Foot Locker Inc. has signed a definitive agreement to purchase Delia’s Inc.’s direct-to-consumer business, CCS, for $102 million in cash.
Delia’s CCS sells skateboard footwear, apparel and accessories through catalogs and e-commerce. The brand’s revenues are expected to exceed $80 million in 2009. The target customer of CCS is a teenaged boy who is an active skateboarder.
Foot Locker believes that expanding its “offerings in the skateboard category will allow the company to broaden its appeal to the teenaged male, providing an exciting growth opportunity for the company,” said Matthew D. Serra, chairman and CEO of Foot Locker, in a statement. “The combination of the highly regarded CCS management team and our well-run Footlocker.com/Eastbay operation is expected to provide significant benefits to both businesses.”
Eastbay is a catalog and Internet retailer of athletic footwear, apparel and sports equipment, primarily to high school and college athletes.