DICK'S SPORTING GOODS INVESTS IN THE FUTURE OF SPORT WITH THE LAUNCH OF DSG VENTURES
DICK'S Sporting Goods (NYSE: DKS) has launched DSG Ventures, a $50 million in-house investment fund aimed at supporting innovative companies that enhance community engagement through sports. The fund will focus on initiatives that serve athletes and improve customer experience. Initial investments include brands such as Moolah Kicks and SidelineSwap. The initiative aims to leverage DICK'S expertise and reach to foster growth among its partners.
- Launch of $50 million DSG Ventures fund to support innovative companies.
- Focus on enhancing community engagement through sports.
- Initial investments in brands that serve athletes directly.
- None.
PITTSBURGH, Nov. 3, 2022 /PRNewswire/ -- DICK'S Sporting Goods (NYSE: DKS) announced today the launch of DSG Ventures, a
DSG Ventures will initially focus on companies that directly serve athletes and their communities, or that help DICK'S better serve its own athletes. In many cases, the fund will seek to help these companies grow by providing them with support and resources that go far beyond capital and include what makes DICK'S unique: distribution reach, industry-leading expertise in retail, operational excellence and relationship with athletes.
DSG Ventures' initial investments reflect the fund's focus on innovation and include:
- Moolah Kicks is the first and only women's basketball performance footwear brand built by and for female ballers.
- SidelineSwap is one of the fastest growing marketplaces globally and the world's largest online marketplace for sporting goods. Buyers and sellers can quickly and easily connect on a wide range inventory across numerous sports or sell their gear instantly at one of our trade-in events.
- Out&Back Outdoor is a one-stop shop when it comes to buying and selling outdoor gear. It's the best place to sell your unwanted outdoor gear in seconds for cash and buy secondhand outdoor gear with confidence.
- EL1 Sports is one of the nation's leading youth sports companies, offering baseball and softball instruction and team administrative support. Also known as the operator of the Los Angeles Dodgers Training Academy, and Proud Youth Baseball and Softball Training Partner of Major League Baseball, EL1 Sports provides teams with training facilities, camps, tournaments, and operating services.
- Courtside Ventures partners with early-stage founders challenging the traditional definition of sports, gaming and wellness.
DSG Ventures is also working with innovation advisory VentureFuel on a Retail Innovation Program to identify startups to collaborate with DICK'S Sporting Goods on a pilot program around enhancing the customer experience. The pilot covers any area of the customer experience from e-commerce to in-store experience to AI.
DICK'S was founded by Dick Stack in upstate New York in 1948 and for many years ran as a small family business before it evolved into the nation's largest omni-channel sporting goods retailer under the leadership of his son, Ed Stack, who now serves as the company's Executive Chairman.
"DICK'S would not be what it is today without the support we received along the way from others who saw our company's potential," said Ed Stack. "Now DSG Ventures will enable us to give back and help support entrepreneurs achieve their dreams through our connections, experience and support. We know that DSG Ventures (and our partners) will bring innovative products, services and experiences to athletes around the world."
"The investment by DICK'S Sporting Goods, coupled with our distribution partnership, has propelled the Moolah Kicks brand from a basketball start-up to a category pioneer with a national footprint," said Natalie White, Founder and CEO of Moolah Kicks. "We could not be more encouraged by DICK'S Sporting Goods' continued commitment to providing performance products specifically for female athletes."
"We're excited to further expand our partnership with DICK'S," said Brendan Candon, Cofounder & CEO Sideline Swap. "Their investment underscores our shared commitment to sustainability and increasing access to sports. As the market leader in sporting goods, DICK'S provides us with an incredible platform to grow our resale program and reach tens of millions of new athletes."
For more information on DSG Ventures, visit dicks.com/DSGVentures.
DICK'S Sporting Goods (NYSE: DKS) creates confidence and excitement by personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer serves athletes and outdoor enthusiasts in more than 850 DICK'S Sporting Goods, Golf Galaxy, Field & Stream and Public Lands stores, online, and through the DICK'S mobile app. DICK'S also owns and operates DICK'S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile app for scheduling, communications, live scorekeeping and video streaming.
Driven by its belief that sports make people better, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving, sustainability efforts and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Facebook, Twitter and Instagram.
Contact: DICK'S Sporting Goods – press@dcsg.com
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SOURCE DICK'S Sporting Goods, Inc.
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