The summer season did not stop the race on acquisitions. Italian BasicNet acquired the Sebago brand for 12 million euros from Wolverine Worldwide Group. The two groups signed a valid collaboration agreement until the end of 2017 for a coordinated transition phase for the benefit of Sebago’s international clientele. The brand will enrich the BasicNet portfolio that already controls Kappa, Robe of Kappa, Jesus Jeans, Superga, K-Way, Sabelt and Briko. The next challenge is to integrate Sebago into the BasicNet business model. The latter will outsource all production, but will directly deal with creative direction and marketing and communication strategy. After selling Jimmy Choo, instead, Jab Holding Co – owned by the Reimann family – started the sales process of the well-known Bally International Agile Footwear brand. Purchased in 2008 by the US company Tpg-Texas Pacific Group, the estimated value is at least 600 million euros. According to confidential media reports, Jab expects to receive bids from private equity companies and Asian fashion companies by mid-September. Bally has annual sales of about 350 million euros. Finally, Aldo’s Canadians have acquired the Camuto group’s “footwear and accessories” division, founded by fashion entrepreneur Vince Camuto, who passed away in 2015. “For 18 months we have been looking around for a deal. We found the best” said David Bensadoun, of the Aldo group. Bensadoun intends to keep the two brands separate. Aldo sells shoes to more than 3,000 retail outlets around the world, employs more than 20,000 people, more than 200 million people visit their stores each year and bill $ 1.5 billion annually ($ 1.26 billion) each year. The Camuto Group, based in Greenwich, Connecticut, produces shoes and apparel for some brands, including Jessica Simpson, Tory Burch and Lucky Brand Jeans.
Shoes Galore: BasicNet buys Sebago, Aldo buys Camuto, Jab wants to sell Bally
