November 6, 2018
ABG will take a 60 percent stake, and DSW will hold 40 percent.
“We are thrilled to welcome the Camuto Group to the ABG family and forge a long-term relationship with DSW,” says Jamie Salter, chairman and chief executive officer, Authentic Brands Group. “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. In addition, our partnership with DSW links ABG to a footwear authority whose sourcing and manufacturing expertise will extend across our portfolio.”
The Camuto Group was founded in 2001 and is best known for its eponymous Vince Camuto brand. The Vince Camuto label includes footwear, fragrance, apparel, handbags and accessories across several retail points. Other brands under the Camuto brand include Louise et Cie, Sole Society, Enzo Angiolini and more.
“The purchase of the Camuto Group operation transforms DSW Inc. into one of the largest footwear franchises in North America,” says Roger Rawlins, chief executive officer, DSW. “Our new design and sourcing capabilities create opportunities for us to pursue market share and become integral to more consumer purchase decisions. In addition to the licensing benefits of our strategic partnership with ABG, this acquisition allows DSW Inc. to harness Camuto Group’s product development and wholesale capabilities while supporting its growth as a global lifestyle brand.”
The deal will grow ABG’s foothold in the footwear and accessories space and raises its collective value to $8.3 billion in annual retail sales, according to a company statement.
Authentic Brands Group is exhibiting at Brand Licensing Europe at stand C65.
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