World Footwear

Companies

Authentic Brands and DSW acquire Camuto

Oct 10, 2018 United States
Authentic Brands and DSW acquire Camuto
Authentic Brands Group LLC (ABG) has entered into a definitive agreement to purchase a majority stake in the intellectual property of the Camuto Group's proprietary brands in partnership with DSW Inc.
"We are thrilled to welcome the Camuto Group to the ABG family and forge a long-term relationship with DSW", commented Jamie Salter, Chairman and Chief Executive Officer of ABG, adding: "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."

"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", stated Roger Rawlins, Chief Executive Officer of DSW, adding: "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."

DSW now acquires the Camuto Group operation including its renowned design, sourcing, production and wholesale infrastructure. DSW will also acquire the licensing rights for Jessica Simpson footwear, and Lucky Brand and Max Studio footwear and handbags. The company will also acquire joint venture participation in the ED Ellen DeGeneres and Mercedes Castillo brands. With the move, ABG takes a page from its acquisition playbook for Aéropostale and Nautica, creating a similar structure that secures a dedicated operating partner in footwear.

According to the parts involved: "ABG's proven know-how in brand building, marketing and business development, combined with the retail, ecommerce and wholesale expertise of DSW provide a strong foundation for long-term growth".

Founded in 2001, the Camuto Group is a legendary footwear and accessories organization best known for the eponymous Vince Camuto brand. Today Vince Camuto comprises key categories including  footwear, fragrance, apparel, handbags and accessories and can be found in over 8 000 retail locations including department stores and specialty accounts.

"The partnership with DSW and ABG creates an unmatched opportunity for the Camuto Group to expand the platform for our leading lifestyle brands", also commented Alex Del Cielo, Chief Executive Officer of Camuto Group".

As part of the agreement, ABG will partner with DSW to acquire the intellectual property of Camuto Group's proprietary brands, taking the majority stake of 60% and DSW Inc. taking the balance of 40%. Brands include Vince Camuto, Louise et Cie, Sole Society, Enzo Angiolini and others. The partnership will focus on licensing the brands across existing lines in footwear, handbags and jewelry, and new category development with a focus on building out each brand's lifestyle offerings.

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