Home Consumer Goods Greenwich footwear firm Camuto Group to be acquired for $375 million

Greenwich footwear firm Camuto Group to be acquired for $375 million

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Brand development and marketing firm Authentic Brands Group and footwear giant DSW are partnering in a $375 million deal to acquire the intellectual property of Greenwich shoemaker the Camuto Group.

Camuto Group DSWAuthentic Brands will take the majority stake of 60 percent, while DSW will acquire a 40 percent interest, according to the companies. Brands involved in the transaction include Vince Camuto, Louise et Cie, Sole Society and Enzo Angiolini.

DSW is also acquiring the licensing rights for Jessica Simpson footwear as well as Lucky Brand and Max Studio footwear and handbags. In addition, the Columbus, Ohio company will acquire “joint venture participation” in Camuto’s ED Ellen DeGeneres and Mercedes Castillo labels.

“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,” said ABG Chairman and CEO Jamie Salter.

Camuto Group namesake Vince Camuto, who died in 2015, was also a co-founder of woman’s fashion wholesale and retail company Nine West, which is headquartered in White Plains.

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