For the first half of 2021, The Athlete’s Foot (TAF) reported a strong retail sales growth of above 40 percent. Also, Intersports International Corporation (IIC) and Arklyz Group AG (Arklyz) announced the successful closing of the deal to sell 100 percent of the global TAF business to Arklyz, owner of Intersocks, on July 30, 2021.
“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,” said IIC’s CEO Steve Evers.
At the beginning of July 2021, IIC announced its decision to further strengthen its Intersports 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 Intersports, was closed. Under the new ownership of Arklyz, and in close co-operation with IIC, the TAF business is expected to continue its growth trajectory.
“I speak for Arklyz and the entire TAF organization that we are thrilled to see this ongoing momentum,” said Arklyz owner and CEO Param Singh. “It is further proof that TAF is in great shape for sustained success, and we see TAF remaining on target to hit US$500 Mio sales in 2021.”
With the deal now closed, Arklyz has taken over the worldwide TAF business including its trademark rights and all franchise agreements. Since TAF franchise rights are often with their respective national Intersports organizations and will remain in place, IIC and Arklyz will be in closer co-operation in the future. The transaction helps to boost important strategic goals for both parties.
Photo courtesy TAF