American Exchange Group says together, the two companies will expand distribution channels and introduce Aerosoles to new categories and reach new audiences.
New York-based American Exchange Group says it acquires Aerosoles with the mission of harmonising its elevated core with broader commercial opportunities in distribution. The acquisition will drive significant growth opportunities for the company as American Exchange Group introduces the brand to new categories, with what it calls a continued unwillingness to compromise on Aerosoles brand vision and quality control.
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“This acquisition marks an exciting new chapter in the evolution of American Exchange Group. We look forward to supporting the future growth of this brand and are excited to welcome Aerosoles into our brand portfolio,” says CEO Alen Mamrout.
Steve Velasquez, chief strategy officer, adds: “Our strategy is to have the Aerosoles brand function as a separate division to ensure the focus on the core brand DNA that has made Aerosoles such a great name in the footwear category. We are pleased that the team from Aerosoles will be joining our organisation to execute our vision.”
The acquisition comes after American Exchange Group partnered with Aerosoles in October on a value footwear line. The collection is slated to launch this spring.
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By GlobalData