The footwear and accessories maker reported a fourth-quarter loss of $7.6 million on Tuesday and announced the closure of its North American retail locations in response to the ongoing Covid-19 pandemic.
DSW and Authentic Brands Group have acquired the operations of Camuto Group for a combined sum of roughly $341 million, securing the Vince Camuto brand and footwear licenses for Jessica Simpson and Lucky Brand.
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.
The footwear brand is building on its momentum and recent entry into the European market with the announcement that it is creating two new business entities to operate more deeply across Europe as well as in China.
Payless ShoeSource is set to emerge from bankruptcy as soon as Wednesday and is banking on a strategy focused on bricks-and-mortar sales at a time when e-commerce is casting an ever-growing footprint on retail sales.