02 Jun The Athlete’s Foot Owner Acquires Shoe City
Arklyz, the parent of The Athlete’s Foot (TAF), announced its acquisition of Shoe City, the Baltimore-based sneaker and streetwear lifestyle retail chain along with an online platform, ycmc.com.
Arklyz Group is adding the Shoe City banner to the TAF organization to expand its reach in the athletic specialty footwear and lifestyle categories. The acquisition adds 40 store locations with an expanded retail presence in the DMV region to its existing TAF stores while also benefiting from Shoe City’s e-commerce platform to jumpstart TAF’s omnichannel strategies.
Param Singh, owner and CEO, Arklyz Group, appointed Matthew Lafone, president and general manager of the Americas, overseeing both businesses.
“Adding Shoe City and ycmc.com to the portfolio together with TAF strengthens our position as one of the nation’s top retail destinations for footwear, apparel, and accessories,” said Singh. “I am also confident that having cohesive leadership under Matthew Lafone, will not only make for a seamless transition but enable both TAF and Shoe City to execute effectively on future growth plans.”
“From starting with our first retail location in Baltimore, then expanding to 40 more stores over the last 70 years across the DMV with deep local ties in the community, I am glad that Arklyz and The Athlete’s Foot, with a very similar approach, are taking over our family business,” said Shoe City President, Greg Greenburg. “I want to thank all of our customers and employees for growing our company into the loved brand that it is today. I believe that Arklyz and TAF will help Shoe City and ycmc.com grow further and make them even more community and culture relevant to our local consumers.”
In 2021, Intersport International Corporation sold TAF to Arklyz Group AG (Arklyz), owner of Intersocks. TAF has 564 stores in 32 markets, including Europe, the U.S., Mexico, Peru, Kuwait, Indonesia, Philippines, Australia, and New Zealand.