Private equity’s interest in footwear continues as CITIC buys Akakura
21/10/2015
CITIC Capital Partners Japan will continue to operate 60 profitable stores, which are expected to grow in the coming years.
Masahiro Yamada, a footwear specialist, has been appointed as CEO to lead the 60-year old company’s restructuring process.
The buyout firm says it will assist Akakura to capture the rise of consumer spending, emergence of the middle-class in China and the growth of tourists into Japan, as well as enhance Akakura’s supply chain management.
Shoe companies bought by private equity firms in recent years include Hotter, Bruno Magli, Dr Martens and Alberto Moretti.
See WF March/April 2014 for a look at the Hotter buyout, available to download as a pdf from the Technical Library.
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