- Apple and IBM partner for business software
- Kroger debuts Retail Site Intelligence, new enterprise IT architecture
- Westfield Garden State Plaza brings digital technology to physical world
- Wal-Mart's tech lab buys Stylr mobile fashion app
- Kohl's, Toshiba partner with Plug and Play in retail accelerator program
Nashville, Tenn. -- Genesco announced Thursday that it has acquired Schuh Group, a specialty retailer of casual and athletic footwear based in the United Kingdom.
The purchase price was $159 million.
Headquartered in Scotland, Schuh operates 59 stores in the United Kingdom and Republic of Ireland, 16 concessions in Republic apparel stores and one of the U.K.'s largest online shoe websites.
"Schuh provides us with an immediate and established retail presence in the United Kingdom, a highly experienced international management team, and improved insight into global fashion trends,” said Robert J. Dennis, chairman, president and CEO of Genesco.
Dennis added that the concept is similar to Journeys in customer demographics, product offering and operating philosophy, “so it is a business we know and understand.”
Genesco operates the Journeys, Lids, Johnston & Murphy and Underground Station banners.