Authentic Brands, a global brand development, marketing and entertainment company, announced the purchase of a majority stake in the intellectual property of the Camuto Group's proprietary brands including Vince Camuto, Louise et Cie, Sole Society, CC Corso Como, Enzo Angiolini and others, in partnership with DSW Inc. The acquisition links ABG to one of the largest footwear authorities in North America and boosts the value of its portfolio of global brands to more than $8.7 billion in annual retail sales. The deal was announced in October.
As part of the acquisition, ABG assumes the marketing, business development and licensing functions the Camuto Group’s proprietary brands. DSW takes on the Camuto Group operation including its design, sourcing, production and wholesale infrastructure.
“As one of our largest multi-brand acquisitions to date, the addition of the Camuto Group portfolio significantly grows ABG’s stake in the footwear and accessories market,” said Jamie Salter, chairman and CEO of ABG. “We see incredible opportunity for expansion, both from a category and distribution standpoint, and plan to leverage our international expertise and network of best-in-class partners to propel these iconic brands into their next phase of global growth.”
ABG and DSW Inc. have partnered to own the intellectual property of the Camuto Group’s proprietary brands, with ABG taking the majority stake of 60% and DSW taking the balance of 40%. Building on the strength of the Camuto Group organization, the partnership will put a renewed focus on licensing the brands across existing lines in footwear, handbags and jewelry, while developing new lifestyle categories and expanding into key international markets.
It’s been a busy year for ABG, whose of strategic moves in 2018 also includes the acquisitions of Nautica, Nine West and Bandolino.