Retailer to Boost Oakley’s Presence
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Oakley Inc., seeking new outlets for its sunglasses and footwear, said Tuesday that Venator Group Inc.’s Foot Locker will expand the selection of Oakley products sold in its stores.
The company’s sunglasses will be sold at 350 Foot Locker locations by early November, Oakley said. The retailer will carry Oakley footwear in 316 of its approximately 1,500 stores, up from 112 now. Financial terms weren’t disclosed.
Oakley, which is based in Foothill Ranch, has sought new retailers since its largest customer, Sunglass Hut International Inc., cut orders to make room for products from new owner Luxottica Group SpA. Oakley yesterday said it would buy Iacon Inc. to acquire 40 mall-based stores. The company also has said 500 of Venator’s Champs Sports stores would offer more Oakley glasses, watches and shoes by early October.
The stock moved up 35 cents to $13.01 on the New York Stock Exchange.
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