Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
America Online Inc. has signed a two-year e-commerce and marketing agreement valued at $21.5 million with sporting goods retailer Footlocker.com Inc., a subsidiary of Venator Group. As part of the agreement, the companies will work together "to promote the convenience of shopping online" to customers of Foot Locker, Champs Sports and Eastbay via in-store and in-catalog vehicles nationwide. The alliance provides prominent placement for the Foot Locker, Champs Sports and Eastbay brands on the Shop@AOL marketplace. Foot Locker will receive prominent anchor tenancy in the Athletic Shoes & Apparel and Sports & Fitness Departments within each of America Online's comprehensive e-commerce destinations: Shop@AOL, Shop@AOL.COM, Shop@CompuServe, Shop@Netscape and Shop@Digital City, as well as placement in drkoop.com, the Internet healthcare network led by the former U.S. surgeon general. In addition, Footlocker.com will receive broad promotion on Dulles, Va.-based AOL's Sports Channel. Eastbay will have "Gold" tenancy and Champs Sports will have "Silver" tenancy in the above categories, while Foot Locker will also have "Gold" tenancy in the Boys Teens Apparel and Girls Teens Apparel areas, the companies say.
New York City-based Footlocker.com operates the online businesses for Foot Locker and Champs Sports, and owns and operates Eastbay, a sporting goods cataloger. Through Eastbay and its affiliates, Footlocker.com operates full-service e-commerce sites including www.worldfootlocker.com, www.kidsfootlocker.com and www.ladyfootlocker.com. In addition, through an exclusive agreement with the National Football League, Footlocker.com manages the NFL's catalog and e-commerce businesses, including the NFL Shop.