Foot Locker's new program could change the sneaker game
Resellers and sneakerheads alike have waited with bated breath for the launch of Foot Locker’s (FL) membership program FLX— and now the wait is over.
After about two years of development, the program, which launched on the evening of Feb. 4, merges the membership programs of all Foot Locker’s subsidiaries — Lady Foot Locker, Kids Foot Locker, Footaction, Eastbay, and Champs — into one. It may seem insignificant to some, but for sneakerheads around the world, the merger represents a significant change to the $6 billion sneaker resale marketplaces that StockX, GOAT, and eBay helped create.
How FLX works
When a coveted shoe drops, sneakerheads, resellers and enthusiasts alike have been able to go individually to the multiple sites of Foot Locker and its subsidiaries to secure a pair (or several). Let’s say a new Jordan shoe launches. Someone could, in theory, reserve a pair with each of Foot Locker’s subsidiaries. FLX consolidates this process, and now each account can only secure one pair.
FLX also rolls out a robust rewards system for customers with three tier levels depending on how much they spend: X1, X2, and X3. XPoints can also be earned by completing online activities such as filling out shopping preferences, connecting the program to social media accounts, and completing surveys. The points can be redeemed for footwear and apparel items, as well as tickets to sporting events and participation in Foot Locker events.
Sneaker culture
Foot Locker CMO Jed Berger spoke to Yahoo Finance about the new program and said that “fairness” and a celebration of sneaker culture were at the heart of its inception.
“This is all about fairness. We all know there are constant challenges to how people acquire a product that has incredible value ... Our goal with FLX is to get the best products in the world into as many hands as we can,” he said.
But some in the sneaker resale community fear that the single account approach will hinder their chances of securing multiple pairs.
Reseller and Sneaker YouTuber Jumperman Kris says that FLX’s coming on to the scene will have a big effect on the resell game. “People will have to adapt and re-learn. It’s going to be a new learning curve.”
Flight Academy Kickz even sees some upside. One way that resellers can work around FLX is by signing up for the program with multiple e-mails.
“The FLX program isn’t limiting any abilities to be able to cop more than one pair of sneakers. I actually think the benefits that are attached to the FLX program is going to be very good for resellers as well as other consumers,” Jumperman Kris said. “Resell is an industry itself that is growing and making its presence more known.”
Correction: This story has been updated to reflect that FLX is a program and not an app, as originally stated.
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.
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