Scholl’s Wellness Company, the parent company of Dr. Scholl’s, announced the acquisition of VKTRY, the performance insole brand specializing in carbon fiber technology.
Terms of the transaction were not disclosed.
Founded and operated by the Arciuolo family in Milford, CT, VKTRY “patented carbon fiber technology is engineered to store and return energy, delivering tangible performance and recovery benefits that resonate with young athletes,” according to Scholl’s Wellness.
The brand first gained recognition through partnerships with elite athletes, including roots with the U.S. Olympic bobsled team, and has “rapidly through” direct-to-consumer channels, Amazon and word-of-mouth among teammates, coaches and parents.
Scholl’s Wellness said VKTRY has “emerged as a category-defining brand in athletic performance insoles. Providing measurable results through a premium, patented product offering, VKTRY has helped grow awareness of performance insoles as essential athletic equipment, contributing to the rapid expansion of a market now estimated at more than $7 billion globally.”
The acquisition represents a significant expansion of Scholl’s’ insoles platform and entry into the rapidly growing performance athlete category. Approximately 80 percent of VKTRY customers are under the age of 21, and roughly two-thirds are first-time insole buyers, extending Scholl’s further to a younger demographic.
“Athletes are discovering that what goes inside their shoes can both improve performance and recovery today while supporting comfort and wellness over time,” said Meghan Davis, chief executive officer at Scholl’s. “VKTRY introduces a new dimension to our growing Scholl’s footcare platform, which is well aligned to powerful macro consumer trends, by adding an incremental highly-engaged performance-oriented consumer attracted to their ultra-premium, cutting-edge technology. And by introducing a younger generation of consumer to the benefits of insoles and foot health, VKTRY broadens our reach and meaningfully extends consumer life cycle across products.”
“We are thrilled at the opportunity to join forces with a brand with such a strong global brand awareness, legacy of excellence and consumer trust,” said Matt Arciuolo, founder and inventor of VKTRY. “Scholl’s and Yellow Wood immediately recognized the strength and value of our brand, our engaged customer base, proprietary technology and our mission to deliver performance to athletes of all ages and skill levels. With the scale of the Scholl’s platform and Yellow Wood’s expertise and support, we are primed to supercharge growth and better deliver game-changing performance to athletes everywhere.”
“The combination of the Dr. Scholl’s global scale and brand recognition with the extraordinary growth and high-performance of VKTRY offers immediate and long-term growth opportunities across both businesses,” said Dana Schmaltz, partner at Yellow Wood, the parent of Scholl’s Wellness. “Adding VKTRY’s explosive growth to the evolved and growing Dr. Scholl’s platform expands the company’s comprehensive portfolio of performance and comfort insoles to reach new and existing consumers at every stage of life. We look forward to working with both teams to further distinguish the business as the true innovator in the foot care category.”
Image courtesy VKTRY
