Intersocks owner buys The Athlete’s Foot
Bern, Switzerland-based sporting goods retail group Intersport has sold 100% of sneaker and streetwear chain The Athlete’s Foot (TAF) to Intersocks’ Swiss owner, Arklyz Group, for an undisclosed amount.
The deal, which includes trademark rights to TAF and all franchise agreements, was signed on June 30, a press release said. The transaction is set to be completed by the end of July.
Intersport chief executive, Steve Evers, commented: “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.”
Owner and chief executive of Arklyz, Param Singh, added: “We are very much looking forward to this new chapter of our cooperation with Intersport. By taking over the TAF business, we believe we can strengthen our position as a global organisation.”
As TAF’s franchise rights will remain in place with the respective national Intersport organisations, Intersport and Arklyz will forge an “even closer” cooperation going forward, the release elaborated.
Arklyz currently holds the licence for brands such as Salomon and Head, as well as distribution rights (spanning multiple European countries) for Crocs, Hunter and others.
Image: The Athlete’s Foot.
