• May 23, 2007

Nike and Foot Locker, Inc are opening 50 "House of Hoops by Foot Locker" stores in the U.S. over the next three years. The new stores will be a "hub for all things basketball."

They will sell Nike, as well as Nike-owned 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," said Charles Denson, president of the Nike brand, in a release.

The new stores are the next evolution of a program that involved putting distinct basketball-themed spaces with Foot Locker stores that featured Nike basketball products. The companies are planning House of Hoops stores, most of which will be conversions of existing Foot Locker stores, in Las Vegas, Chicago, Houston and Los Angeles.

As part of its long-term growth strategy, Nike is investing in both direct and partner retail to create more elevated retail experiences focused on consumers in Nike's six core growth categories-basketball, running, football (soccer), women's fitness, men's training and sport culture.

--Karl Greenberg