INTERSPORT Strengthens Business Relationship With Intersocks and Sells The Athlete’s Foot to Arklyz Group, Owner of Intersocks

INTERSPORT Strengthens Business Relationship With Intersocks and Sells The Athlete's Foot to Arklyz Group_ Owner of Intersocks-01

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.”

Also Read: The Evolving World of B2B Marketing Strategies

“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 EuropeThe United

Also Check: Introducing the TOUGHBOOK S1 Developed to deliver all the features you want, and all the rugged you need StatesMexicoPeruKuwaitIndonesiaPhilippinesAustralia 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.

For more such updates follow us on Google News TalkCMO News.