Aether Holdings, Inc. announced today that it has entered into a definitive agreement to acquire The Athlete’s Foot®, the world’s largest athletic footwear and apparel franchise system, with over 575 locations in 40 countries.
The acquisition includes
Athlete’s Foot® brand along with the global retail franchise operation.This transaction follows the Company’s June 2006 acquisition of UCC Capital Corp. (“UCC”), which provided Aether with a platform from which to begin implementing a new intellectual property (“IP”) strategy focused on brand acquisition and management.
Aether intends to start doing business as NexCen Brands, Inc., which is more indicative of the Company’s new business focus.
“The Athlete’s Foot® is a retail brand that is recognized by consumers worldwide,” said Robert W. D’Loren, Aether’s President and Chief Executive Officer. “This franchise system will provide us not only with a historical and growing revenue stream, but also a flexible distribution channel for additional consumer brands that we plan to acquire in the future.” Mr. D’Loren continued, “This is an exciting first step for Aether toward building a large and diverse portfolio of consumer brands and franchise-related assets.