Switzerland based Arklyz acquires Lloyd Shoes from Ara

18 Jan '24

16 min read

Pic: Adobe Stock

Insights

Switzerland-based Arklyz AG is set to acquire LLOYD Shoes GmbH and its subsidiaries, with the deal approved by both companies' Boards.
Param Singh, CEO of Arklyz, sees this as a strategic milestone to further develop LLOYD's international presence and omni-channel strategy.
Ara AG's CEO believes Arklyz is the right owner for LLOYD's next growth phase.

Arklyz AG, based in Stans, Switzerland, becomes the new owner of LLOYD Shoes GmbH, Sulingen. Arklyz and Ara have signed definitive agreements for Arklyz to acquire LLOYD Shoes GmbH with all its operating subsidiaries. The transaction was unanimously approved by the Board of Directors of both Arklyz AG and Ara AG.

"Today's announcement is another strategic milestone for us," says Param Singh, owner and CEO of Arklyz Group. "This is a unique opportunity to take over one of the most respected and well-known companies in the German shoe industry. LLOYD is already the undisputed market leader in the men's premium segment in its core European markets, and we look forward to further developing it internationally. Further, there are strong opportunities to grow LLOYD by strengthening its omni-channel presence. I am incredibly happy to welcome LLOYD to Arklyz Group."

"We decided to sell LLOYD to Arklyz, as we believe that with its broad expertise in the lifestyle and footwear sectors, Arklyz is the right owner for LLOYD for its next chapter of growth," says Andreas Wortmann, CEO of Ara AG. "We are very pleased that LLOYD will be heading for a new safe harbour after 25 years of ownership by Ara AG, and we wish the entire team continued success."

"LLOYD aims to become a highly recognised premium footwear and lifestyle brand, globally. We have been growing nicely over the last years. Now, together with Arklyz and its expertise, we can further strengthen our omnichannel strategy and expand in the international markets," says Andreas Schaller, managing director of LLOYD Shoes GmbH. "We are excited about the future as we are looking forward to working with Arklyz and Param Singh."

The transaction is expected to close in the first half of 2024, subject to customary closing conditions and antitrust approvals. The parties have agreed not to disclose any financial details of the transaction.