IIC-Intersport acquires 100% of The Athlete’s Foot
Paris -- A Tuesday report by Women’s Wear Daily said that sporting goods retailer IIC-Intersport International Corp. will acquire 100% of The Athlete’s Foot, expanding Intersport’s presence to 63 countries from its current 41.
“The Athlete’s Foot is an ideal complement to Intersport,” Intersport CEO Franz Julen told WWD. ”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.”
According to the report, IIC will establish an internal Athlete’s Foot Division, and continue to operate The Athlete’s Foot banner.
Financial terms reached with Athlete’s Foot parent Global Franchise Group have not been disclosed.