Switzerland's Arklyz acquires retail chain Shoe City

The primary goal of Arklyz is for each business to expand and thrive from economies of scale while continuing as leaders in the athletic specialty footwear and lifestyle category. The acquisition will add 40 more store locations with an expanded retail presence in the DMV region to already existing TAF locations while also benefitting from Shoe City’s e-commerce platform to help jumpstart TAF’s omni-channel strategies.

Param Singh, owner and CEO of Arklyz, has appointed Matthew Lafone, president and general manager of the Americas, to now oversee both businesses, the company said in a media statement.

One of the reasons behind the acquisition of Shoe City is TAF and Shoe City's aligned values for a deep local community engagement and commitment to supporting their loyal customers in underserved neighbourhoods. In addition, as a retail leader, Arklyz also values Shoe City's rich, local heritage in Maryland where the business started with one location in Baltimore in 1949 to expand to 40 stores in the District of Columbia, Maryland, Virginia (DMV area) and together with ycmc, evolved into becoming a go-to destination for the industry’s latest sneaker releases.

“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. 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,” Param Singh said in a statement.

“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. 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,” Shoe City president, Greg Greenburg, said.

Fibre2Fashion News Desk (GK)