Online branded footwear store, Rubbersole, has been acquired by its European competitor Spartoo.
Rubbersole.co.uk which sells men’s, women’s and kids footwear via brands including Crocs, Converse and Dr Martens was acquired by French-based Spartoo.com for an undisclosed sum.
Spartoo.co.uk also sells men’s, women’s and kids footwear but via a different selection of brands including Gabor, Rieker and Firetrap.
According to Boris Saragaglia chief executive of Spartoo, the acquisition of Rubbersole will allow Spartoo to gain further market share in the UK.
Rubbersole will still continue to operate in the same way under its new owners.Chief executive Pablo Barclay said: “I always looked to Spartoo as one of the best examples of what can be achieved by a young and dynamic company, it is with great pride that I am now a part of this success.”
Spartoo, which is now active in 20 countries, hopes to achieve a turnover of €100m (£87m) by the end of 2011, up from the turnover of €60m (£52.2m) it achieved in 2010.