Caleres acquires Allen Edmonds
15/12/2016
The company was previously in the hands of private equity firm Brentwood Associates.
“The addition of Allen Edmonds to the Caleres brand portfolio allows us to rapidly increase our exposure in men’s footwear,” said Diane Sullivan, CEO and president of Caleres.
She described Allen Edmonds as “one of the great gems in men’s footwear”. She added that the brand operates with a proven business model and is “well-positioned for growth”. She predicted that it would become the “cornerstone” of Caleres’s growing men’s business.
“With nearly a century of heritage and innovation, Allen Edmonds is an ideal fit for Caleres,” said Paul Grangaard, president and CEO of Allen Edmonds. “We’ll be sharing our men’s footwear knowledge and expertise, while simultaneously benefitting from the brand development, materials sourcing, product development and design capabilities inherent in a much larger footwear organisation.”
Caleres’s portfolio is dominated by women’s brands, including Diane von Furstenberg, Fergie, Via Spiga and Franco Sarto. Its menswear footwear labels include Vince, Dr Scholl’s and George Brown Bilt.
Image courtesy of Allen Edmonds.
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