Following Arklyz Group’s July 2021 acquisition of The Athlete’s Foot (TAF) from Intersport International Corp. and its acquisition of Asphaltgold, a European omnichannel provider of high-end sneakers and streetwear based in Germany, earlier this month, the acquisition-happy Swiss retail group has now acquired the U.S. chain Shoe City. The Baltimore-based company, which was initially founded in 1949 under the name Your City, My City, today has a total of 40 stores in three U.S. states (Maryland, DC and Virginia). It also operates its own e-commerce business at ycmc.com.
Arklyz will add the Shoe City banner to the TAF organization. The primary goal for each business is 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 benefiting from Shoe City’s e-commerce platform to help jumpstart TAF’s omnichannel strategies. Param Singh, owner and CEO of Arklyz Group has appointed Matthew Lafone, president and GM of the Americas, to now oversee both businesses.
One of the primary 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 neighborhoods, the new owner said. Arklyz also values Shoe City’s rich, local Maryland heritage, where it began in 1949 with one store in Baltimore and has expanded to 40 stores and, along with its online platform, has become 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,” 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.”
Arklyz plans to complete the integration of Shoe City into the group by July 2022.
