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.
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.