Authentic Brands Group — owner of brands including Juicy Couture, Aeropostale and Nautica — is to acquire the Camuto Group in a US$375m deal together with US footwear and accessories retailer DSW Group.
ABG says the move will grow its presence in the footwear and accessories market.
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Camuto Group is best known for the Vince Camuto brand. It produces footwear, fragrance, apparel, handbags and accessories, and has a presence in over 8,000 retail locations.
ABG will take the majority stake of 60% and DSW Inc. will take the balance of 40%. ABG says its “proven know-how” in brand building, marketing and business development combined with the retail, e-commerce and wholesale expertise of DSW Inc., provide a strong foundation for long-term growth.
“We are thrilled to welcome the Camuto Group to the ABG family and forge a long-term relationship with DSW,” said Jamie Salter, chairman and chief executive officer of Authentic Brands Group. “This strategic arrangement preserves the Camuto Group operation, which will continue to service its current footwear partners, and provides a robust infrastructure for new brands and growth. In addition, our partnership with DSW links ABG to a footwear authority whose sourcing and manufacturing expertise will extend across our portfolio.”
Roger Rawlins, CEO of DSW, adds: “The purchase of the Camuto Group operation transforms DSW Inc. into one of the largest footwear franchises in North America. Our new design and sourcing capabilities create opportunities for us to pursue market share and become integral to more consumer purchase decisions. In addition to the licensing benefits of our strategic partnership with ABG, this acquisition allows DSW Inc. to harness Camuto Group’s product development and wholesale capabilities while supporting its growth as a global lifestyle brand.”
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By GlobalDataAlex Del Cielo, CEO of Camuto Group, adds the deal will allow it to strengthen its wholesale business and grow its brand equity and customer demand through additional points of sale.
Earlier this year, ABG acquired footwear brands Nine West and Bandolino in a US$340m deal.
Last October, a merger between Montreal-based footwear group Aldo and Camuto was called off.
