Nordstrom Inc (NYSE:JWN), the upmarket department store, is pushing into the sneakers market by partnering with Stadium Goods, a footwear company, in a deal that will bring popular brands like Jordan’s and Yeezy Boosts to its new store in New York City.
Nordstrom will allow Stadium Goods to set up a stand-alone stall at its new men's-only outlet, which opens on 57th Street in midtown Manhattan in mid-April, according to multiple U.S. press reports.
Stadium Goods, which is based in New York, launched its first store in the SoHo neighborhood of lower Manhattan three years ago, according to a CNBC report.
In early trade, Nordstrom shares were down 3.9% to US$47.45. Nordstrom’s shares have taken a hit recently, partly due to its board’s decision this month to end talks with members of the Nordstrom family, who had been looking to take over the group and privatize the retail chain.