A “veteran apparel retailer” has entered into a definitive agreement with NexCen to open twenty of The Athlete's Foot franchises throughout the state of Mississippi. These TAF stores will be the first in the state of Mississippi. Financial terms of the agreement were not disclosed, but the arrangement calls for a minimum of 12 new TAF stores to be opened within the next five years.
Earlier this month, NexCen announced the closing of a 100-store agreement with a master franchisee. Both major expansion plans resulted from the TAF rebranding effort announced by the parent company this past June at the TAF Global Franchise Convention in Las Vegas.
“We are gratified and enthused that our rebranding effort for TAF has been eagerly embraced by existing and new area developers. We look forward to providing our new area developer with the marketing and operational resources he needs to enable every one of his 20 stores to be the go-to retailer for athletic footwear and apparel within its community,” commented Robert W. D'Loren, President & CEO of NexCen Brands, Inc. “NexCen is continuously looking for new opportunities and markets in which to grow the TAF brand globally and domestically, and now we can lay claim to the state of Mississippi.”
The entrepreneur inking the deal is an established apparel retailer who seeks to broaden his current business through athletic and fashion footwear. Under the deal, he is granted the exclusive rights to operate premium athletic footwear and apparel stores under the TAF brand, as well as the right to sub-franchise. He is expected to take advantage of this opportunity to expedite TAF store development. The first TAF in Mississippi is expected to open in December of 2007.
