Online retailer The Hut Group is understood to be in “advanced talks” over acquiring branded footwear etailer Cloggs.
Drapers has learned that the deal, to fully acquire the shoe business, is close to completion but no timescale has been given.
Sources close to the situation told Drapers that The Hut Group was interested in Cloggs as it would significantly increase its share of the online branded footwear market.It already operates online branded footwear business All Sole.
“All Sole isn’t very big and Cloggs sells many more brands so a deal would make The Hut Group a really serious player in the online branded footwear space,” said one source.
Earlier today, the business revealed its acquisition of cycling accessories etailer Probikekit.com.
Cloggs former managing director Damian Scarlett left the business at the end of last year to set up his own ecommerce consultancy. Cloggs co-founder and commercial director Chris Thomas took over from Scarlett as managing director of the business.
Both Cloggs and The Hut Group were unavailable for comment.