The transaction is anticipated to conclude in the first half of 2024. Credit: Shutterstock

Switzerland’s Arklyz Group has acquired Lloyd Shoes with all its operating subsidiaries through definitive agreements signed by Arklyz and Ara AG, the previous owner of the brand.

The decision to offload Lloyd was motivated by the belief that Arklyz, with its broad expertise in the lifestyle and footwear sectors, is the right owner for the shoe manufacturers’ next chapter of growth, according to Andreas Wortmann, CEO of Ara AG.

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He said: “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.”

The agreement was unanimously approved by the board of directors of both Arklyz AG and Ara AG and the financial details of the transaction are yet to be disclosed.

Param Singh, owner and CEO of Arklyz Group explained the plans the company has in store for the shoe manufacturer: “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.”

Andreas Schaller, managing director of Lloyd Shoes shared the same views as Singh on the company’s vision and added: “Lloyd aims to become a highly recognised premium footwear and lifestyle brand, globally.

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“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 anticipated to conclude in the first half of 2024, subject to customary closing conditions and antitrust approvals.

In May 2022, Arklyz Group acquired European footwear chain Asphaltgold to operate the brand’s online retail platform and retail storefronts, while using its global operations expertise, infrastructure and valuable reputation to elevate the business.