August 4, 2021 (Newswire.com) –
For the first half of 2021, The Athlete’s Foot (TAF) reports a strong retail sales growth of above 40%. Furthermore, INTERSPORT International Corporation (IIC) and Arklyz Group AG (Arklyz) announce the successful closing of the deal to sell 100% of the global TAF business to Arklyz – owner of Intersocks – on July 30, 2021.
TAF was able to continue its strong growth momentum and reports a jump in global sales of above 40% in the first half year 2021. In close co-operation with the national TAF organizations/franchisees, TAF was able to continue its successful growth focus strategy, which resulted in increased sales and greater efficiency. Among the strategic growth factors is a decisive inclusion of changed consumer requirements and behaviour since the beginning of the COVID-19 pandemic. “We are very pleased with the continued success at TAF and are proud to hand over the business to new owner Arklyz on this strong basis,” says IIC’s CEO Steve Evers.
Deal to sell TAF to Arklyz – owner of Intersocks – successfully closed
In the beginning of July 2021, IIC announced its decision to further strengthen its INTERSPORT core business in the sports performance segment and the plan to sell TAF. On July 30, 2021, the deal to sell TAF to Arklyz, the owner of Intersocks and longtime partner of INTERSPORT, was closed. Under new ownership of Arklyz, and in close co-operation with IIC, TAF business is expected to continue growing fast. “I speak for Arklyz and the entire TAF organization that we are thrilled to see this ongoing momentum,” says Arklyz owner & CEO Param Singh. “It is further proof that TAF is in great shape for sustained success – and we see TAF being remain on target to hit US$500 Mio sales in 2021.”
With the deal now successfully closed, Arklyz has taken over the worldwide TAF business including its trademark rights and all franchise agreements. Since TAF 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. The transaction helps to boost important strategic goals for both parties.
For further information:
About 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.
About 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.
About 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 & ecommerce and manufacturing.
Source: IIC – INTERSPORT International Corp.
Originally found on Read More