For the second time in two weeks, major footwear brands are growing by acquisition. Caleres, a portfolio of global footwear brands including Famous Footwear, Sam Edelman and Diane Von Furstenberg, has acquired Vionic Group, a maker of supportive footwear and orthotic shoe inserts, for $360 million. Earlier this month, footwear giant DSW partnered with Authentic Brands to acquire Camuto Group for $375 million.
The move is designed to further expand Caleres’ stable of shoe brands and give the company “additional access to the growing contemporary comfort footwear category,” according to a company statement. Vionic has generated approximately 25% of its total sales online over the past 12 months, indicating that the orthotics manufacturer could give Caleres a strong disruptor to power its digital strategies going forward.
“The brand has already proven to be a disruptive addition to the industry, as the dynamic Vionic team has blended proprietary technology with comfort and style,” said Diane Sullivan, CEO, President and Chairman of Caleres in a statement. “We’re looking forward to supporting the brand in their continued success and to sharing our extensive infrastructure, including our expertise in product design, brand development and global sourcing.”
Caleres operates more than 1,200 stores and distributes to major department and specialty stores, its branded e-Commerce sites and on many other third-party web sites. The footwear giant has continued to expand through acquisitions over the past few years. In December 2016, it acquired Allen Edmonds, the nearly 100-year-old men’s footwear and accessories brand, for $255 million. In July 2018, Caleres acquired a controlling interest in footwear brand Blowfish Malibu.
Caleres said it would disclose more details of the acquisition on its upcoming Q3 earnings call on Nov. 20, 2018.