The Swiss company Arklyz Group continues to expand its portfolio. On Wednesday, the company announced the acquisition of the US retail chain Shoe City, which specializes in sneakers and streetwear, and the associated online platform Ycmc.com. The Baltimore-based company has forty stores in the US states of the District of Columbia, Maryland and Virginia. Arklyz is thus continuing its shopping spree in the sporting goods industry: Last year, the group had already acquired the retailer The Athlete’s Foot (TAF), and the acquisition of the German sporting goods supplier Asphaltgold was announced just a few days ago.
Arklyz plans to incorporate Shoe City into the TAF division after the acquisition. Matthew Lafone, the Group’s President & General Manager for the Americas region, will lead both concepts in the future. The goal of the acquisition is to expand its presence in the East Coast region of the United States and leverage the new addition’s e-commerce platform to advance TAF’s omnichannel strategy, the company said in a statement. The integration of the newcomer into the group should be completed in July.
“By adding Shoe City and Ycmc.com to the portfolio with TAF, we are strengthening our position as one of the nation’s leading retail destinations for footwear, apparel and accessories,” said Param Singh, Arklyz owner and CEO. “In addition, I am confident that the combined leadership of Matthew Lafone will not only ensure a seamless transition, but will also position TAF and Shoe City to effectively execute future growth plans.”