RCG Corporation, owner of The Athlete’s Foot Australia, has bolstered its arsenal with a double acquisition on home turf.
The company confirmed today that it has acquired the local arm of footwear wholesaler and manufacturer, Saucony, along with sporting goods chain Podium Sports.
Podium Sports, previously owned by Authentics Australia, is a nine-store chain that operates athletic footwear and apparel in clearance stores in outlet malls and DFOs.
The Saucony tie-up will see RCG sign on for an exclusive, five-year Saucony distribution licence from Wolverine Worldwide.
The acquisitions, effective from December 2, 2013, clear another hurdle in RCG's tactical strategy as it strives to become the “leading player in premium branded footwear in Australia”.
The double coup also follows RCG's recent acquisition of the distribution rights for shoe brand, Sperry Top-Sider.
Commenting on the new additions to the company fold, RCG CEO Hilton Brett said the moves will fuel business growth.
“Saucony is a highly credible, award-winning, international athletic brand with huge growth potential. Its profile, both in terms of market position and growth opportunity, is a perfect fit for RCG,” he said.
Together with the recently announced Sperry Top?Sider licence, the acquisition of Saucony will fuel additional growth in RCG and move us closer to our goal of becoming the leading player in premium branded footwear in Australia.”
“It is necessary for any distribution business to have an efficient and well managed clearance strategy in order to protect the business and margins of its premium retail customers. Podium is an excellent example of this strategy in action and will help to further ensure that RCG’s customers continue to be supported by a well?managed brand strategy.”