The Founding of Foot Locker Many people may not know who F.W. Woolworth is but the majority of them have probably shopped at many his successful stores. Woolworth's company is the reason behind the infamous store know worldwide, Footlocker. Being on of the top retailer for athletic shoes and apparel, Foot Locker is one of the most successful corporations from the F.W. Woolworth Company. Woolworth company is not just known for just Footlocker, it is known for Kids Foot Locker, Champs Sports, Footaction, and many other stores that offer athletic shoes and apparel.This company is one of the first creators for retail and is now known worldwide for selling modern sportswear. Frank Winfield Woolworth was born in Rodman, New York, where he lived …show more content…
In 1912 the syndicate decided to become one corporation with Frank as the new president, and it was now named after him. By the year 1912 the company grossed over sixty million dollars annually, when Frank decided to merge together with five other companies who he competed against. With the company now having almost six hundred stores, Frank wanted to become the best so he decided to build a headquarter for his fellow colleagues. At one point it became the tallest building in the world but it was surpassed in 1930. Unfortunately, in 1919, Frank Woolworth passed away and after his death, Charles became the head of the …show more content…
Stores like Footlocker that was located in California, opened up in 1974, which influenced Woolworth to open up Champs Sport and Rx Place, and etc. Years later, with Footlocker being their highest selling line, they decided to buy over 300 Footaction stores that were in bankruptcy. With the hard work of Frank and his staff, Woolworth Company became the biggest department store chain in the whole entire world in 1979, confirmed by the Guinness Book of World Records. Even though the company had obviously had a lot of success, but it did also suffer a downfall. The company became so concentrated on department stores, that they failed to realize that they could not compete with other markets so early in their career. Currently footlocker is still highest athletic shoe retailer in world which is a huge accomplishment for a brand that is many years old. The F.W. Woolworth company owned over 3,460 stores worldwide, and with the legacy of Frank, it is still a successful corporation that many others try to