The Athlete’s Foot, a specialty footwear and lifestyle chain, just released its financial earnings for 2022, reporting retail revenue of $555M globally, growth of 10%+ from 2021. The numbers show that TAF successfully navigated a difficult retail environment plagued by supply chain challenges, rising inflation, socioeconomic and political unrest. The brand is looking forward to a solid and successful start to 2023 powered by a host of new brand partnerships, store locations and most importantly, the Spring launch of TAF’s 3.0 omnichannel store concept.
Param Singh, owner, and CEO of Arklyz Group, which owns TAF globally, said: “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.”
In addition to delivering 10%+ growth in 2022, TAF is committed to making an impact in the communities they serve focusing on equity, diversity, and inclusion. TAF leadership created several in-house initiatives including the creation of the Impact Council in Americas, which consists of leading thought leaders in the education, sports, fashion, social justice, inclusion, and diversity sectors.
Key highlights from 2022 include providing 254,000 meals in Chicago, New Orleans, Atlanta, and Raleigh-Durham with Feeding America during November, announcing Tasha Cobbs Leonard as the first female recipient of the STAART Program, and relaunching the iconic rap battle contest Athlete of The Mic, are a few of the many milestones that were reached in 2022.
One of the most anticipated projects of 2023 will be the introduction of the TAF 3.0 omnichannel “neighborhood” concept store. TAF 3.0 will focus on elevating the consumer experience and continuing to drive hyper-localized product assortment and community engagement efforts. In addition, TAF will increase its apparel capacity through new store concepts and introduce new brand partnerships with Polo, Sergio Tacchini, Crocs, Ethika, and other premium streetwear brands.