ABG and DSW Inc. Finalize the Purchase of Camuto Group
November 6, 2018 – New York, NY – Authentic Brands Group LLC (ABG), a global brand development, marketing and entertainment company, today 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. (NYSE: DSW). This 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.
“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.”
As part of the acquisition, ABG assumes the marketing, business development and licensing functions the Camuto Group’s proprietary brands. DSW Inc. takes on the Camuto Group operation including its renowned design, sourcing, production and wholesale infrastructure. DSW Inc.’s expertise in retail and ecommerce combined with ABG’s proven know-how in brand building, marketing and business development, create a strong foundation for long-term 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 Inc. 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.
ABG’s broad list of strategic moves in 2018 most notably includes the acquisitions of American icons Nautica, Nine West and Bandolino, and now the Camuto Group brands in partnership with DSW Inc. This strategic arrangement preserves the Camuto Group operation and acts as a catalyst for growth, linking ABG to a footwear authority whose sourcing and manufacturing expertise will extend across the company’s portfolio. As part of its FN Achievement Awards, Footwear News has selected ABG as “Company of the Year” for its substantial growth moves.