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Aether Holdings to acquire athletic footwear retailer
22 Aug '06
3 min read
Aether Holdings Inc has entered into a definitive agreement to acquire The Athlete's Foot, the world's largest athletic footwear and apparel franchise system, with over 575 locations in 40 countries.
The acquisition includes The Athlete's Foot brand along with the global retail franchise operation. This transaction follows the company's June 2006 acquisition of UCC Capital Corp ('UCC'), which provided Aether with a platform from which to begin implementing a new intellectual property ('IP') strategy focused on brand acquisition and management.
Aether intends to start doing business as NexCen Brands Inc, which is more indicative of the company's new business focus.
"The Athlete's Foot is a retail brand that is recognized by consumers worldwide," said Robert D'Loren, Aether's President and CEO.
"This franchise system will provide us not only with a historical and growing revenue stream, but also a flexible distribution channel for additional consumer brands that we plan to acquire in the future." D'Loren continued, "This is an exciting first step for Aether toward building a large and diverse portfolio of consumer brands and franchise-related assets," he said.
Robert Corliss, President and CEO of The Athlete's Foot, will continue with Aether after the closing as President and CEO of Aether's retail franchise division, NexCen Franchise Brands Inc.
He stated, "Our long-standing relationship with Bob D'Loren and UCC has served The Athlete's Foot well over the past several years." Corliss noted further, "We clearly envision successfully working together with Aether to expand and further enhance The Athlete's Foot brand globally."
The acquisition includes The Athlete's Foot brand along with the global retail franchise operation. This transaction follows the company's June 2006 acquisition of UCC Capital Corp ('UCC'), which provided Aether with a platform from which to begin implementing a new intellectual property ('IP') strategy focused on brand acquisition and management.
Aether intends to start doing business as NexCen Brands Inc, which is more indicative of the company's new business focus.
"The Athlete's Foot is a retail brand that is recognized by consumers worldwide," said Robert D'Loren, Aether's President and CEO.
"This franchise system will provide us not only with a historical and growing revenue stream, but also a flexible distribution channel for additional consumer brands that we plan to acquire in the future." D'Loren continued, "This is an exciting first step for Aether toward building a large and diverse portfolio of consumer brands and franchise-related assets," he said.
Robert Corliss, President and CEO of The Athlete's Foot, will continue with Aether after the closing as President and CEO of Aether's retail franchise division, NexCen Franchise Brands Inc.
He stated, "Our long-standing relationship with Bob D'Loren and UCC has served The Athlete's Foot well over the past several years." Corliss noted further, "We clearly envision successfully working together with Aether to expand and further enhance The Athlete's Foot brand globally."
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