Arklyz Acquires Baltimore, USA-Based Retailer – Shoe City and Associated Online Platform
Arklyz Expands Portfolio with Another Highly Successful Specialty Athletic Footwear and Streetwear Retail Chain – Shoe City and Associated Online Business – ycmc.com
ATLANTE, May 25, 2022 /PRNewswire/ — Arklyz, owner of the athletic footwear and lifestyle retailer, athlete’s foot (JOB)today announced the acquisition of a highly successful 70+ year old company shoe citya Baltimoreretail chain based on sneakers and streetwear, as well as an online platform – www.ycmc.com.
Arklyz Group will add the Shoe City banner to the TAF organization with the primary goal for each company to grow and thrive through economies of scale while continuing to be category leaders in specialty athletic footwear and style life. The acquisition will add 40 additional stores with an expanded retail presence in the DMV region to the already existing TAF locations, while also benefiting from Shoe City’s e-commerce platform to help jump-start TAF’s omnichannel strategies. Param Singh, owner and CEO of Arklyz Group named Matthew LafonePresident & Managing Director of the Americasto now oversee both companies.
A key reason for acquiring Shoe City is the alignment of TAF and Shoe City values for deep local community engagement and a commitment to supporting their loyal customers in underserved neighborhoods. Additionally, as a retail leader, Arklyz also values Shoe City’s rich local heritage in Maryland where the business began with a location in Baltimore in 1949 to expand to 40 stores in the district of Columbia, Maryland, Virginia (DMV area) and with an online platform, www.ycmc.comhas evolved into a go-to destination for the industry’s latest sneaker releases.
“Adding Shoe City and ycmc.com to the portfolio along with TAF solidifies our position as one of the nation’s premier retail destinations for footwear, apparel and accessories,” said owner and CEO of Arklyz, Param Singh. “I am also convinced that having consistent leadership under Matthew Lafonewill not only ensure a smooth transition, but allow both TAF and Shoe City to effectively execute their future growth plans.”
“Since the start of our first point of sale in Baltimorethen expanding to another 40 stores over the past 70 years across the DMV with deep local ties in the community, I am pleased that Arklyz and The Athlete’s Foot, with a very similar approach, are taking over our family business,” said President of Shoe City, Greg Greenbourg. “I want to thank all of our customers and employees for making our company the beloved brand it is today. I believe Arklyz and TAF will help Shoe City and ycmc.com grow further and make them even more more relevant to the community and culture of our local consumers.”
About Shoe City:
Right from the start in 1949 as a single site in Baltimore, Maryland, Shoe City and www.ycmc.com have evolved into a go-to destination for the latest sneaker releases and industry trending apparel. Over the past seven decades, the family business has grown and expanded, now offering 40 outlets under the “Shoe City” brand across DC, Maryland and Virginia.
About Athlete’s Foot (TAF):
More than just a retail store, but designed to be a destination for athletic street style, The Athlete’s Foot is a global athletic-inspired lifestyle retailer of streetwear, footwear, apparel and accessories. Sneaker and streetwear chain Athlete’s Foot has 550 stores and e-commerce outlets in more than 30 countries. Its global headquarters are located in Stans, Swiss and in Atlanta, Ga. in United States.
Arklyz is a fast growing powerhouse in sports, lifestyle, athleisure and workwear. Arklyz spans a set of vertically connected businesses with a particular focus on brand management, distribution, retail and e-commerce, and manufacturing. Its global headquarters are located in Stans, Swiss. For more information, please visit www.arklyz.com.