The Athlete's Foot scores record sales in 2021
The Athlete's Foot announced on Thursday record revenues for the year 2021, surpassing its "ambitious" annual sales target of $500 million for the twelve months.
The U.S. specialty footwear and lifestyle company said that total sales for the last year reached $503 million, representing a 24% increase on 2020. The sportswear retailer, owned by Arkylz Group, also celebrated its 50th year of operation in 2021, which saw it unveil commemorative product launches, events and a 50th anniversary documentary, helping drive sales in the latter half of the year.
"We are proud to say that we have hit the ambitious sales target of $500 million in such a short amount of time," said Param Singh, owner and CEO of Arklyz Group, which acquired The Athlete's Foot in July, after being sold by Intersport International for an undisclosed sum.
The Switzerland-based company, which also owns Intersocks, acquired The Athlete’s Foot’s trademarks and franchise agreements, it was revealed at the time.
Coinciding with the earnings update, the company said it has strengthened its board by announcing the appointment of Martin Künzi, former CFO of Intersport International Corporation, to The Athlete's Foot board of directors to support ambitious growth of the business.
"We are intensively working on further growth initiatives, including entering new markets as current fashion and streetwear trends continue to become more popular," said Singh.
"We want to continue this momentum to be a powerful partner, in delivering amazing consumer experience and driving incremental revenue, for our sports lifestyle brands around the globe."
Founded in 1971 in Atlanta, The Athlete's Foot is a global retailer of athletic inspired lifestyle for streetwear, footwear, apparel and accessories. Today, it boasts 550 stores and e-commerce shops in more than 30 countries. Its global headquarters are located in Stans, Switzerland and in Atlanta, Georgia, in the United States.
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