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Foot Locker takes minority stake in children's apparel retailer

New York-based athletic wear company Foot Locker Inc. said Jan. 3 that it acquired a $3 million stake in kids' apparel and footwear maker Super Heroic Inc.

The investment brings the total funds raised by Super Heroic to $10 million since it was established in 2016, according to the release.

As part of the deal, Kids Foot Locker will become the first physical-store retailer of Super Heroic in the U.S. Foot Locker will also serve as a board adviser to Super Heroic and will partner with the kids' lifestyle brand on different growth initiatives.