The Athlete’s Foot (TAF) reported another year of sales growth in 2023.
The Atlanta-based footwear chain said on Tuesday that it saw full-year sales of $593 million in 2023, up 7 percent from $555 million in 2022. While TAF did not break out its results by most regions, the company reported that North America sales were up 8 percent in 2023 at a 44 percent maintained margin.
Param Singh, chairman of TAF parent company Arklyz Group, said in a statement that these results are a “testament” in executing the “strategic vision and unwavering commitment” to its community-centric practices.
Watch on FN
“This achievement underscores our global influence and steadfast dedication to fostering meaningful consumer connections,” Singh said. “TAF’s unparalleled ability to engage with consumers, cultivate active customer relationships, and deeply integrate with local communities sets us apart, consistently driving impactful transformations for all stakeholders involved.”
A major milestone for the retailer came last summer when Grammy Award-winning gospel artist and businesswoman Tasha Cobbs Leonard, the first-ever recipient of TAF’s Strategic African American Retail Track (StAART) program, officially opened her own franchise location in Greenville, S.C.
Last year also saw the rollout of TAF’s new “neighborhood” concept, which is meant to capture a community vibe with customized art elements, local brands and engaging activations. The concept reflects the chain’s more diversified merchandising strategy by featuring more apparel options from labels such as Polo, Kappa, Sergio Tacchini, PRPS and Gudlyfe, as well as deeper offerings for women.
TAF was acquired by Arklyz Group AG from Intersport International Corp. in July 2021. Since then, Arklyz Group has been actively growing its shoe portfolio with the purchase of German shoe store Lloyd Shoes in January.
Looking ahead into 2024, TAF said on Tuesday that it is moving forward with global expansion plans and deeper community engagement. “The strategic acquisition of Lloyd by Arklyz Group stands as a pivotal milestone, symbolizing not only financial growth but also a continued dedication to making a positive impact on communities worldwide,” the company said.
