Switzerland-based Arklyz AG, which has a focus on sports, lifestyle and workwear, has acquired German premium footwear brand Lloyd Shoes GmbH for an undisclosed amount from Ara AG.

In a statement, Arklyz said that it will acquire Lloyd Shoes and all its operating subsidiaries and provide strategic support and resources to strengthen and grow its wholesale, omnichannel and international business.

Param Singh, owner and chief executive of Arklyz Group, said: "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."

Lloyd, founded in 1888, is a leader in the premium footwear sector in German-speaking and Scandinavian countries. It sells footwear for men and women, alongside leather goods such as jackets, bags and belts in 48 countries. It also operates 35 concept stores in major cities in Germany and Copenhagen, Lima, Vienna, and Beijing, as well as directly via its own e-commerce channel.

Andreas Schaller, managing director of Lloyd Shoes GmbH, added: "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."

The transaction is expected to close in the first half of 2024, subject to customary closing conditions and antitrust approvals. Arklyz, founded in 2018 by Singh, focuses on brand management, distribution, retail, e-commerce, and manufacturing. It owns The Athlete's Foot, Asphaltgold, Intersocks and several global licenses or wholesale distribution with retail for brands like Salomon, Head, Crocs, Nordica, Adidas, and Hey Dude.