SWITZERLAND: Intersport takes over The Athlete's Foot
By Leonie Barrie | 31 October 2012
European sportswear retail giant IIC-Intersport International Corporation (IIC) is to take over US-based franchise chain The Athlete's Foot in a move that expands its operations to the US, South America and Australia for the first time.
Berne, Switzerland-based Intersport also says the deal offers "promising" potential to grow its business in emerging markets such as China, India, Brazil and Argentina.
"The Athlete's Foot is an ideal complement to Intersport, immediately providing us [with a] presence in 63 countries instead of the current 41," says Intersport CEO Franz Julen.
"While we were in a strong global position especially in Europe, this acquisition allows us to move into the lucrative markets of the USA, Australia, Indonesia and New Zealand, take advantage of the potential of the emerging countries in South America."
IIC plans to set up an internal Athlete's Foot Division, and continue to operate The Athlete's Foot banner.
The Athlete's Foot sells sports shoes, apparel and accessories from 430 stores in 27 countries including the US, Mexico, Peru, the United Arab Emirates, Kuwait, Indonesia, the Philippines, Australia and New Zealand, Portugal, Denmark and Russia.
Financial details of the deal reached with Global Franchise Group (GFG), parent of The Athlete's Foot Franchising LLC, have not been disclosed.
With a turnover of over EUR9.9bn and more than 5,400 specialist sports stores, Intersport claims to be the largest sporting goods retailer in the world. Its concepts include the namesake chain, as well as Budget Sport stores.
Sectors: Apparel, Finance, Footwear, Retail
Companies: The Athlete’s Foot
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