The signing of this transaction took place on June 30, 2021. The parties have agreed not to disclose financial details of the transaction. Arklyz will take over the worldwide TAF business including its trademark rights and all franchise agreements, the two companies said in a joint press release.

“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,” said IIC´s CEO Steve Evers.

“Building on the successful partnership between IIC and Intersocks, we are very much looking forward to this new chapter of our co-operation,” stated Arklyz owner & CEO, Param Singh.

Since TAF franchise rights are often with the respective national Intersport organisations – and will remain in place – consequently IIC and Arklyz will be in an even closer co-operation in the future. It is also agreed that all the TAF personnel will be retained in Amsterdam (Netherlands) and Atlanta, Georgia (US).

IIC acquired TAF in 2012 and since then it consistently and successfully expanded it to increase the turnover to $400 million in 2020. Today, TAF has 564 stores in 32 markets, including Europe, The US, Mexico, Peru, Kuwait, Indonesia, Philippines, Australia and New Zealand. TAF also successfully operates e-commerce platforms in those markets – building a strong omni-channel sales network over the years.

TAF global retail sales have seen a robust growth of 47 per cent in first five months of 2021 vs 2020 and of 14 per cent vs 2019. Under new ownership of Arklyz, and in close co-operation with IIC, TAF business is expected to continue growing fast.

The transaction helps to boost important strategic goals for both parties. While IIC has decided to further strengthen its core business and to focus on sports performance retail, Arklyz is seeking to further expand its growing sports and lifestyle business – covering production, brand management, brick and mortar retail and e-commerce.

“We are excited with this transaction, which represents an extraordinary opportunity for both Arklyz and TAF. By taking over the TAF business we believe we can strengthen our position as global organisation,” said Arklyz’s Param Singh.

“We firmly believe in strong brands and integrated retail and online networks – and TAF is a very successful integrated player globally with a strong brand,” said Param Singh.

TAF is the perfect addition to the existing distribution and retail activities of Arklyz – already active with brands like Crocs. The hybrid approach of delivering a great customer experience in stores as well as online aligns well with Arklyz approach. Managing strong brands – both own and licensed – has been a key arena for Arklyz, with top-tier licensed brands like Salomon, Nordica, Head etc.

Fibre2Fashion News Desk (KD)