$50 million
in-house investment fund will support innovative companies and
mission-driven founders working to improve their communities
through sport
PITTSBURGH, Nov. 3, 2022
/PRNewswire/ -- DICK'S Sporting Goods (NYSE: DKS) announced today
the launch of DSG Ventures, a $50
million in-house fund that will invest in innovative
companies that, like DICK'S, hold the core belief that sports make
people better.
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.
About DICK'S Sporting
Goods
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.