World Footwear

Companies

Caleres acquires majority stake in Blowfish Malibu

Jul 11, 2018 United States
Caleres acquires majority stake in Blowfish Malibu
The St Louis-based company announced it has acquired a controlling interest in Blowfish Malibu, which has trailing 12-month revenue of approximately 27 million US dollars
“The decision to partner with Blowfish Malibu was an easy one, as it allows for continued expansion of our overall business and gives us additional exposure to the growing sneaker and casual lifestyle segment of the market”, commented Diane Sullivan, CEO, President and Chairman of Caleres, adding: “Since they were formed in 2005, Blowfish Malibu has focused on interpreting current global trends to create the newest and hottest original styles in women’s footwear, with a great value proposition, and we can’t wait to welcome the team to Caleres.”

“The opportunity to partner with Caleres, and to grow our brand even further, has inspired the entire team at Blowfish Malibu”, stated Don Weiss, co-founder and President of Blowfish Malibu, continuing: “The support of a strong partner – in terms of sourcing and back-office – is something we’ve been searching for, and we’re glad we found it with Caleres.”

The majority stake in Blowfish Malibu is being funded using the company’s existing cash flow, and the acquisition is expected to be accretive within one year.

About Blowfish

Thirteen years ago, two footwear executives decided to combine their business and creative talents to create a unique brand of shoes. Their goal was simple: make quality fashionable shoes and sell them at affordable prices. For every season since, Blowfish Malibu has delighted shoe lovers with on-trend styles that embody emerging fashion trends from Europe and Asia and capture the fresh youthful spirit and casual living that is distinctively Southern California.

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