Boston, MA 03/24/2014 (wallstreetpr) – Genesco Inc. (NYSE:GCO) is a footwear, apparel and accessories retailer and wholesaler. The company through its retail subsidiary has inked an agreement with Ohio State University Athletics. The agreement which gives the company exclusive rights to retail the university’s athletics merchandize online and offline will span several years.
Genesco announced that its Indianapolis-based subsidiary LIDS Sports Group reached an agreement to become the official retail partner of the University in a press release issued late last week. The agreement includes among other things the exclusive rights to run official e-commerce and location retail outlets, such game-day concessions, campus retail stores and stadium retail outlets. The press release went further to announce that four Buckeye Corner stores of LIDS Sports Group will be converted into official store locations of Ohio State.
Items in the partnership
The partnership between Genesco Inc. (NYSE:GCO)’s subsidiary will cover a wide assortment of licensed merchandise from Ohio State University. The partnership will serve Buckeye fans through LIDS Sport Group channels across the country and around Columbus. Genesco announced that the loyalty program by Buckeye Corner Club will be honored in all its store locations and online e-commerce platform.
An exciting pair
For Genesco Inc. (NYSE:GCO), an exclusive right to retail Ohio State University merchandise is just another feather to its cap as the company seeks more opportunities to uplift revenue and improve earnings. And Ohio State University Athletics was just looking for a partner of the caliber of Genesco which owns LIDS Sports Group. The University believes that partnering with one of the leading collegiate brands will offer its fans opportunity to share its experiences online and in stores. The partnership will cover 10 years on virtual and location retail of the University’s merchandise.
Stock performance
Shares of Genesco Inc. (NYSE:GCO) are up more than 12 percent from last month and up 35 percent from the past year. The shares closed at $78.79, up 1.53 percent during Friday session. The previous session was traded on a heavy volume of shares more than the average daily volume.
