Friday, October 19, 2018

Famous Footwear parent in $360 million brand acquisition

Chain Store Age
Footwear giant Caleres is expanding its portfolio with a brand that counts Oprah Winfrey among its biggest fans.

The parent company of Famous Footwear, and such brands as Sam Edelman, Naturalizer, LifeStride and Dr. Scholls and others, has acquired Vionic Group for $360 million. The comfort footwear label, which has posted a compound annual growth rate of 20% for the past six years, has appeared on Winrey’s popular “Oprah’s Favorite Things” list for two consecutive years. Approximately 25% of its revenue during the past year came from online. . . . more