The Athlete’s Foot (TAF) reported record global earnings in 2022.
The sneaker retailer reported full-year retail sales of $555 million, a 10% increase from 2021, which saw sales of $503 million. TAF did not break out its results by region.
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TAF, which was acquired by Arklyz Group AG from Intersport International Corp. in July 2021, said it delivered these strong results amid major headwinds across the retail industry, including supply chain issues, inflation and political unrest.
“Although the retail landscape presented some unique challenges in 2022, we are extremely enthusiastic about TAF’s financial performance in 2022 and proud to celebrate the outstanding performance of our community-based initiatives, programs, and partnerships with our partners,” said Param Singh, owner and CEO of Arklyz Group, which also owns the Baltimore-based chain Shoe City and European sneaker and streetwear retailer Asphaltgold.
In 2023, TAF said it will focus on new brand partnerships, opening more store locations and a new omnichannel store concept called the TAF 3.0 omnichannel “neighborhood” concept store. These locations will focus on driving engagement with local communities via specific products and efforts. The chain will also introduce new brand partnerships with with Polo, Sergio Tacchini, Crocs, Ethika and other streetwear brands.
TAF also highlighted its equity, diversity, and inclusion initiatives in 2022, including the launch of its Impact Council in the Americas. This program empowers communities via enrichment and outreach programs. And in March, the company tapped Tasha Cobbs Leonard as the first female recipient for its retail/athletes-foot-staart-black-business-owners-1203143437/” data-ylk=”slk:Strategic African American Retail Track;elm:context_link;itc:0″ class=”link “Strategic African American Retail Track (StAART) program, which mentors Black entrepreneurs through its retail franchise model.
The Athlete’s Foot confirmed in 2021 that the goal is to open at least 50 stores over the next