Brazilian Arezzo buys footwear brand Vicenza
The Brazilian 'house of brands' has announced the acquisition of Vicenza by 103.8 million Brazilian reais (20.3 million USD), as part of its expansion strategy in the fashion and retail businesses
According to Arezzo, 60% of the value of the acquisition will be paid in cash and the remainder in shares of Arezzo & Co. The remaining shares owned by the sellers after the purchase, representing 40% of Vicenza's total and voting capital, will be incorporated by the company. This acquisition is part of the company's strategy to diversify its product assortment and increase the brands in its portfolio, with the aim of becoming "one of the largest 'house of brands' in Brazil".
Vicenza has been operating in the footwear and handbags market for over 30 years, producing currently approximately 1 800 units per day. It has a solid footprint online and in multi-brand stores across all Brazilian states, with "an export expansion movement". In 2022, Vicenza had gross operating revenue of approximately 80 million Brazilian Reais (15.6 million USD) and an EBITDA of approximately 13 million Brazilian reais (2.54 million USD).
"I've followed their work for over 15 years and started talking with Rafaela [head of Vicenza] in the last two years, hoping for a moment that would be good for both brands", explained Alexandre Birman, CEO of Arezzo to Pipeline. Arezzo's goal is now to double the share in e-commerce sales and leverage the multi-brand sales points, focusing on the domestic market. Rafaela Furlanetto will remain as CEO's of the brand, reporting in the first year to Alexandre Birman.
Image Credits: brazilianfootwear.com
Related Events
Related Organizations
-
ABICALÇADOS - Brazilian Footwear Industries Association
-
ASSINTECAL - Brazilian Association of Companies of Components for Leather, Footwear and Manufactured Goods
-
ABRAMEQ - Brazilian Association of the Machinery and Equipment for the Footwear and Leather Industries
-
ABQTIC - Brazilian Association of Leather Industry Chemists and Technicians
-
Footwear Consumer 2030
A study reflecting on the main global consumer trends and the key changes for the footwear industry.
-
World Footwear Public Calendar
Click here to subscribe an updated version of the calendar displaying the footwear trade shows.
-
-
-
-
-
-
-
Media Partners
Media Partners
-
ARS ARPEL
La Conceria
Shoes Report
SERMA