DSW emerges as new buyer of Camuto Group
01/11/2018
Camuto Group was founded by Vince Camuto, who co-founded Nine West in 1978 with Jerome Fisher and served as its creative director. In 1993, when Nine West went public, Vince Camuto became the company’s chief executive, a post he held until Jones Apparel Group acquired the company in 1999. He launched the Camuto Group in 2001 and introduced a series of brands including Antonio Melani, Gianni Bini, Nurture, and Michelle D. Four years later, he launched a brand in his own name. Mr Camuto died at the start of 2015.
Canadian group Aldo said that it had reached an agreement to acquire Camuto in August 2017, but two months later both parties announced that the deal was off.
DSW will pay $375 million for the group, which will continue to have its headquarters in Connecticut, with chief executive, Alex Del Cielo, continuing in that role.
At the time of the DSW announcement, Mr Del Cielo said he thought Vince Camuto would be “excited about the transaction” and would view the opportunity as “a way to extend the company’s reach and realise his vision”.
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