Authentic Brands Group takes majority stake in Camuto Group
today Oct 10, 2018
Authentic Brands Group LLC has announced it 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.
Within the agreement, ABG will acquire 60 percent of the intellectual property of Camuto Group’s proprietary brands, while DSW claims the remaining 40 percent. Brands include Vince Camuto, Louise et Cie, Sole Society and Enzo Angiolini among others.
In addition to licensing the brands across their existing lines of footwear and accessories, the companies will also prioritize new category development within each brand’s lifestyle line.
American footwear and accessories company DSW Inc. will now manage Camuto Group operations, including design, sourcing, production and wholesale infrastructure.
This acquisition has increased ABG's collective brand value to more than $8.3 billion in annual retail sales, according to the company's press release.
“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," said Jamie Salter, Chairman and Chief Executive Officer of Authentic Brands Group.
In a press release, DSW representatives said this new acquisition comes as part of an overall expansion strategy.
“The purchase of the Camuto Group operation transforms DSW Inc. into one of the largest footwear franchises in North America," said Roger Rawlins, Chief Executive Officer of DSW. "Our new design and sourcing capabilities create opportunities for us to pursue market share and become integral to more consumer purchase decisions.”
DSW will also acquire the licensing rights for Jessica Simpson footwear as well as Lucky Brand and Max Studio footwear and handbags, in addition to gaining joint venture participation in the ED Ellen DeGeneres and Mercedes Castillo brands.
Founded in 2001, the Camuto Group offers a range of footwear and accessories, and is best known for its Vince Camuto brand. Vince Camuto comprises a variety of footwear, fragrance, apparel, handbags and accessories and is sold in over 8,000 retail locations.
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