Arklyz Group has added another shoe name to its growing roster of global brands.
The owner of The Athlete’s Foot, Asphaltgold, Intersocks and global licenses and distribution deals has acquired German shoe store manufacturer Lloyd Shoes from Ara AG, a family owned German shoe company.
More from Footwear News
The terms of the deal, which is expected to close in the first half of 2024, were not disclosed.
Lloyd Shoes has manufactured upscale footwear in German-speaking and Scandinavian countries since 1888. The Sulingen, Germany-based brand sells its products in 48 countries at close to 2,800 points of sale, operates 35 stores across Germany as well as in Copenhagen, Lima, Vienna, and Beijing and sells internationally through its website. Throughout the years, the label has added a leisure segment and accessories to its dress shoes and has grown its retail fleet.
“Today’s announcement is another strategic milestone for us,” said owner and CEO of Arklyz Group Param Singh in a statement. “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.”
He added that he sees potential to grow Lloyd’s omnichannel capabilities as well.
The deal marks the latest shoe acquisition for Arklyz, which in 2022 acquired Shoe City, a Baltimore-based sneaker and streetwear retailer. Arklyz also owns global licenses or wholesale distribution deals for brands such as Salomon, Head, Crocs, Nordica, Adidas and Hey Dude.
CEO of Ara AG Andreas Wortmann said in a statement that Arklyz’s “broad expertise in the lifestyle and footwear sectors” made it a good fit to own Lloyd.
“Lloyd aims to become a highly recognised premium footwear and lifestyle brand, globally. We have been growing nicely over the last years. Now, together with Arklyz and its expertise, we can further strengthen our omnichannel strategy and expand in the international markets,” said managing director of Lloyd Shoes Andreas Schaller in a statement. “We are excited about the future as we are looking forward to working with Arklyz and Param Singh.”
Arklyz CEO Param Singh previously told FN that when it comes to potential acquisition targets, he looks for existing businesses in the marketplace with “strong brand relationships” and a “loyal consumer base.” He said he takes inspiration from companies like JD Sports and Foot Locker, both of whom have made notable acquisitions in recent years to expand their store fleets and consumer reach.
Best of Footwear News