Footwear retailer Aldo Group has agreed to buy Camuto Group’s footwear and accessories businesses for an undisclosed sum.
US company Camuto owns brands including Vince Camuto, Jessica Simpson Clothing and ED (Ellen DeGeneres’s lifestyle brand). It also produces private-label clothing for retailers including AllSaints, J Crew and Kurt Geiger.
The Camuto family will continue to own and operate the clothing businesses. Camuto CEO Alex Del Cielo will remain in his role and will report to the Aldo chief executive David Bensadoun.
Aldo said the deal will “significantly increase” both companies’ capabilities and reach, as well as their ability to offer a wider selection of footwear, handbags and accessories.
Bensadoun said: “Both of our companies are heavily product oriented, and they each evolved in different ways. While the Aldo Group comes from retail and has focused on international expansion, Camuto Group is an expert in wholesale and a powerful player in the US market.
“A huge part of our attraction to the Camuto Group is an understanding of their design skills, excellent distribution network, and sourcing capabilities. We also believe the Aldo Group’s broad international and cross-channel experience will unlock Camuto Group’s global potential.”
Del Cielo added: “Camuto Group and the Aldo Group share the same ethics, values and approach to business. We are strongly committed to our people, our partners, our customers and our product.”