50 million dollars An internal investment fund will support innovative companies and mission-driven founders working to improve their communities through sport
PITTSBURGH, November 3, 2022 /PRNewswire/ — DICK’S Sporting Goods (NYSE: DKS) today announced the formation of DSG Ventures, Inc 50 million dollars In-house fund that invests in innovative companies that, like DICK’S, believe that sport makes people better.
DSG Ventures will initially focus on companies that serve athletes and their communities directly or help DICK’S better serve its own athletes. In many cases, the fund will seek to help these businesses grow by providing them with support and resources that go well beyond capital and include what makes DICK’S unique: sales reach, industry-leading retail expertise, operational excellence and relationship with athletes.
Reflecting the fund’s focus on innovation, DSG Ventures’ initial investments include:
- Moolah Kicks is the first and only women’s basketball performance footwear brand designed by and for ballers.
- SidelineSwap is one of the fastest growing marketplaces in the world and the world’s largest online marketplace for sporting goods. Buyers and sellers can quickly and easily connect to a broad inventory across multiple sports, or sell their gear instantly at one of our trade-in events.
- Out&Back Outdoor is a one stop shop for buying and selling outdoor gear. It’s the best place to sell your unwanted outdoor gear for cash in seconds and buy used outdoor gear with confidence.
- EL1 Sports is one of the nation’s leading youth sports companies, providing baseball and softball instruction and team administration support. EL1 Sports, also known as the operator of the Los Angeles Dodgers Training Academy and a proud Major League Baseball youth baseball and softball training partner, provides teams with training facilities, camps, tournaments and operational services.
- Courtside Ventures works with early-stage founders who challenge the traditional definition of esports, gaming and wellness.
DSG Ventures is also working with innovation consultancy VentureFuel on a retail innovation program to identify startups to partner with DICK’S Sporting Goods on a pilot program to improve the customer experience. The pilot project covers all areas of the customer experience, from e-commerce to in-store experiences and AI.
DICK’S was founded by Thick stack in the hinterland new York in 1948 and ran as a small family business for many years before developing into the nation’s largest omnichannel sporting goods retailer under his son’s leadership. Ed Stackwho now serves as the company’s executive chairman.
“DICK’S would not be what it is today without the support we have received along the way from others who saw the potential of our company,” he said Ed Stack. “Now DSG Ventures will allow us to give back to entrepreneurs through our connections, experience and support, helping them achieve their dreams. We know 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 transformed the Moolah Kicks brand from a basketball startup to a category pioneer with a national presence,” he said Natalie White, Founder and CEO of Moolah Kicks. “We couldn’t be more encouraged by DICK’S Sporting Goods’ continued commitment to providing performance products specifically for female athletes.”
“We’re excited to continue expanding our partnership with DICK’S,” he said Brendan Candon, Co-Founder and CEO Sideline Swap. “Your investment underscores our shared commitment to sustainability and increased access to sport. As a leader in sporting goods, DICK’S gives us an incredible platform to grow our resale program and reach 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) inspires confidence and excitement by personally equipping all athletes so they can achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer, supplies athletes and outdoor enthusiasts in more than 850 DICK’S Sporting Goods, Golf Galaxy, Field & Stream and Public Lands stores, online and via the DICK’S mobile app. DICK’S also owns and operates DICK’S House of Sport and Golf Galaxy Performance Center and GameChanger, a mobile youth sports app for scheduling, communication, live scores and video streaming.
Driven by his belief that exercise makes people better, DICK’S is a longtime advocate for youth sports and, along with his foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. For more information about DICK’s business, corporate giving, sustainability efforts and employment opportunities, visit dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and Facebook. Twitter and Instagram.
Contact: DICK’S sporting goods – [email protected]
SOURCE DICK’S Sporting Goods, Inc.