Global performance sports retailer INTERSPORT International Corporation (IIC) strengthens its core business and has agreed on a deal to sell 100% of the highly successful The Athlete's Foot (TAF) retail & e-commerce network to Arklyz Group AG (Arklyz) - owner of Intersocks. As part of the deal, IIC and Arklyz have agreed on a close cooperation which will bring synergies and a beneficial development for all parties involved.
BERN, Switzerland, July 2, 2021 /PRNewswire/ -- IIC - INTERSPORT International Corp. (IIC) has decided to further strengthen its core business to focus on sports performance retail. The very successful specialty footwear and lifestyle chain "The Athletes Foot" (TAF) will be acquired by Arklyz Group AG (Arklyz), owner of Intersocks and longtime partner of INTERSPORT, as of end of July 2021. The signing of this transaction took place on June 30, 2021, and the closing of the deal will take place by the end of July 2021. The parties have agreed not to disclose financial details of the transaction.
Arklyz will take over the worldwide TAF business, including its trademark rights and all franchise agreements. IIC's CEO Steve Evers says: "With Arklyz, a strong operative investor was chosen among different interested parties to ensure that TAF can continue to grow rapidly and successfully. That we have worked closely with Arklyz subsidiary Intersocks for many years has made the decision even easier, and it is our goal to further strengthen this relationship."
"Building on the successful partnership between IIC and Intersocks, we are very much looking forward to this new chapter of our co-operation," states Arklyz owner & CEO, Param Singh.
Since TAF's franchise rights are often with the respective national INTERSPORT organizations - and will remain in place - consequently IIC and Arklyz will be in an even closer co-operation in the future. It is also agreed that all the TAF personnel will be retained in Amsterdam (Netherlands) and Atlanta, Georgia (USA).
The Athlete´s Foot - fast-growing sports lifestyle online & retail chain
IIC acquired TAF in 2012 and, since then, it consistently and successfully expanded it to increase the turnover to USD 400 million in 2020. Today, TAF has 564 stores in 32 markets, including Europe, The United States, Mexico, Peru, Kuwait, Indonesia, Philippines, Australia and New Zealand. TAF also successfully operates e-commerce platforms in those markets - building a strong omni-channel sales network over the years. TAF global retail sales have seen a robust growth of 47% in the first five months of 2021 vs. 2020 and of 14% vs. 2019. Under new ownership of Arklyz, and in close co-operation with IIC, TAF business is expected to continue growing fast.
Fitting strategic move for all parties
The transaction helps to boost important strategic goals for both parties. While IIC has decided to further strengthen its core business and to focus on sports performance retail, Arklyz is seeking to further expand its growing sports & lifestyle business - covering production, brand management, brick-and-mortar retail and e-commerce.
"We are excited with this transaction, which represents an extraordinary opportunity for both Arklyz and TAF. By taking over the TAF business, we believe we can strengthen our position as a global organization," says Arklyz's Param Singh.
Bringing brands, retail and production together
"We firmly believe in strong brands and integrated retail & online networks - and TAF is a very successful integrated player globally with a strong brand," adds Param Singh. TAF is the perfect addition to the existing distribution and retail activities of Arklyz - already active with brands like Crocs. The hybrid approach of delivering a great customer experience in stores as well as online aligns well with Arklyz's approach. Last but not least, managing strong brands - both own and licensed - has been a key arena for Arklyz, with top-tier licensed brands like Salomon, Nordica, Head, etc.
- IIC - INTERSPORT International Corporation - www.intersport.com
With a turnover of over EUR 10.2 billion in 2020 and more than 5,200 specialist sports stores in 44 countries, the INTERSPORT Group is among the world's leading sporting goods retailers.
- The Athlete's Foot (TAF)- www.theathletesfoot.com
The Athlete's Foot, sneaker & streetwear chain, has 564 stores and e-commerce shops in 32 countries which generated sales of USD 400 million in 2020.
- ARKLYZ - ARKLYZ Group AG - www.arklyz.com
Arklyz is a fast-growing powerhouse in the arena of sports, athleisure and workwear. Arklyz covers a vertically connected set of activities with a special focus on brand management, distribution, retail & e-commerce and manufacturing.
The Athletes Foot -Pooler US
SOURCE IIC-INTERSPORT International