Companies

Owner of Athlete’s Foot acquires Lloyd Shoes

Jan 25, 2024 Germany

The Swiss-based Arklyz Group has added another footwear brand to its portfolio by acquiring the German Lloyd Shoes from Ara Group, with all its operating subsidiaries

The parent company of brands such as The Athlete’s Foot, Asphaltgold and Intersocks has signed a definitive agreement with Ara Group to acquire Lloyd Shoes. Arklyz will then provide strategic support and resources to strengthen and grow the brand’s wholesale, omnichannel and international business. Founded in 1888, Lloyd Shoes is known as a market leader in the premium footwear sector in German-speaking and Scandinavian countries.

“Today’s announcement is another strategic milestone for us”, commented Param Singh, owner and CEO of Arklyz Group. “This is a unique opportunity to take over one of the most respected and well-known companies in the German shoe industry. Lloyd is already the undisputed market leader in the men’s premium segment in its core European markets, and we look forward to further developing it internationally. Further, there are strong opportunities to grow Lloyd by strengthening its omnichannel presence”, he explained.

Along the same line, Andreas Schaller, the Managing Director of Lloyd believes that “together with Arklyz and its expertise, we can further strengthen our omnichannel strategy and expand in the international markets”. “We are excited about the future as we are looking forward to working with Arklyz and Param Singh”, concluded Schaller.

The transaction is expected to close in the first half of this year, subject to customary closing conditions and antitrust approvals. Financial details of the transaction have not been disclosed.

Image Credits: scarparossa.com

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