Arklyz has announced the acquisition of US sneaker and streetwear retail chain Shoe City together with its e-commerce counterpart, Your City My City (YCMC).
The Baltimore-based retailer will be joining the brand management group through The Athlete's Foot (TAF), its most recent acquisition in the sports footwear arena.
Arklyz said its goal is to expand each business, with this new acquisition to come with 40 new store locations within the Washington Metropolitan Area adding to already existing TAF locations, while it also benefits from Shoe City’s e-commerce platform.
Matthew Lafone has been appointed by Arklyz owner and CEO, Param Singh, as president and general manager of the Americas, overseeing both of the businesses.
Singh said in a release: “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.
“I am also confident that having cohesive leadership under Matthew Lafone, will not only make a seamless transition but enable both TAF and Shoe City to execute effectively on future growth plans.”
Arklyz said it is expecting to complete the integration of Shoe City into the group by July 2022.