US-based brand development company Authentic Brands Group (ABG) along with footwear and accessories retailer DSW has signed a definitive agreement to acquire 100% stake in the intellectual property of Camuto Group’s brands.
As part of the deal, ABG will own 60% majority stake while DSW owns the remaining 40% stake.
The deal covers various brands of Camuto such as Vince Camuto, Louise et Cie, Sole Society and Enzo Angiolini, among others.
Both companies will now focus on licensing the brands across footwear, handbags and jewellery categories, as well as develop a new category to grow each brand’s lifestyle offerings.
ABG chairman and CEO Jamie Salter said: “We are thrilled to welcome the Camuto Group to the ABG family and forge a long-term relationship with DSW.
“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.
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“In addition, our partnership with DSW links ABG to a footwear authority whose sourcing and manufacturing expertise will extend across our portfolio.”
In addition, DSW will now own design, sourcing, production and wholesale infrastructure operations of Camuto.
It will also acquire licensing rights for Jessica Simpson footwear as well as Lucky Brand and Max Studio footwear and handbags and a joint venture participation in the ED Ellen DeGeneres and Mercedes Castillo brands.
Furthermore, ABG will acquire the intellectual property of the Bernard Chaus (BCI) brands through a separately negotiated agreement.
The company has partnered with BCI CEO Ariel Chaus for the transaction. The deal covers fashion and contemporary women’s apparel brands such as 1.STATE, CeCe and Chaus.
The transactions are subject to customary closing conditions and are expected to close within 30 days.