Dick’s Sporting Goods Creates a 'Venture Fund' for Sports Startups
Kanesa David — November 4, 2022 — Business
References: dickssportinggoods & retaildive
Dick’s Sporting Goods is launching a $50 million in-house venture fund called DSG Ventures. This fund will primarily be used to invest in and fund sports companies and has kicked off the program by investing in Moolah Kicks, SidelineSwap, Out&Back Outdoor, and EL1 Sports and Courtside Ventures. Dick's Sporting Goods has since explained that its investment in the start-up resale platform SidelineSwap was strategic in light of the two companies' growing recommerce partnership.
Dick’s and VentureFuel are also working together to develop a retail innovation initiative. As part of the program, the companies will work together to improve the consumer experience across a range of areas, including e-commerce and artificial intelligence.
“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, executive chairman of Dick’s Sporting Goods. “Now DSG Ventures will enable us to give back and help support entrepreneurs achieve their dreams through our connections, experience and support.
Image Credit: Dick's Sporting Goods
Dick’s and VentureFuel are also working together to develop a retail innovation initiative. As part of the program, the companies will work together to improve the consumer experience across a range of areas, including e-commerce and artificial intelligence.
“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, executive chairman of Dick’s Sporting Goods. “Now DSG Ventures will enable us to give back and help support entrepreneurs achieve their dreams through our connections, experience and support.
Image Credit: Dick's Sporting Goods
Trend Themes
1. Sports Startup Investment - Dick's Sporting Goods invests $50 million in DSG Ventures to fund and invest in sports companies, creating opportunities for disruptive innovation in the sports industry.
2. Recommerce Partnership - Dick's Sporting Goods and SidelineSwap's strategic investment in each other creates opportunities for disruptive innovation in the recommerce space within the sports industry.
3. Retail Innovation - Dick's Sporting Goods and VentureFuel working together to improve the consumer experience through e-commerce and artificial intelligence creates opportunities for disruptive innovation in the retail and sports industries.
Industry Implications
1. Sports Retail - Dick's Sporting Goods investment, through DSG Ventures, and strategic partnership with SidelineSwap creates opportunities for disruptive innovation within the sports retail industry.
2. Recommerce - Dick's Sporting Goods investment and strategic partnership with SidelineSwap creates opportunities for disruptive innovation in the recommerce industry, specifically within the sports sector.
3. Retail Technology - Dick's Sporting Goods and VentureFuel's retail innovation initiative presents opportunities for disruptive innovation in the retail technology sector, specifically through the implementation of e-commerce and artificial intelligence solutions.
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