Should be exact and your own words
Foot Locker, the New York-based specialty athletic retailer, acquired Atmos, a Japan-based premium athletic retailer, for $360 million in November 2021. Richard Johnson, Chairman and Chief Executive Officer of Foot Locker, said, “We deeply value Atmos’s unique brand, innovative, experiential stores, premium offerings, collaborations and understanding of sneakerhead culture. Atmos expands our global reach in the rapidly growing Asia-Pacific market, establishes a critical entry point in Japan.” After this acquisition, Atmos will maintain its brand name, preserving its identity, and unique value proposition as part of the Foot Locker brand portfolio in the Japanese market.
Consider the global retailing entry strategy framework, what are the rationales behind this acquisition (3 pts)?
In order to market to the Japanese customers, which type(s) of brand images would be more effective for Foot Locker in Japan? Which type(s) would be less effective? Explain why (4 pts).