DSW will rebrand itself as Designer Brands, effective April 2, as part of a three-year strategic growth plan. The initiative includes introducing private label products for both DSW and The Shoe Company, as well as:
- Expanding DSW’s partnership with W Nail Bar, as well as adding other in-store services;
- Adding new features to DSW’s loyalty program and launching a program at The Shoe Company;
- Increasing penetration in the direct-to-consumer market for The Shoe Company and Camuto Group;
- Growing the DSW Kids business;
- Strengthening partnerships with Camuto Group’s retail partners; and
- Optimizing inventory management, including pursuing cross-border and inter-segment opportunities.
The retailer reported a 6.1% increase in comparable sales during fiscal 2018, which helped DSW top the $3 billion revenue threshold for the first time. Total revenue increased 13.3% during the fiscal year, while digital demand grew 30%.
DSW and Authentic Brands Group acquired Camuto Group for approximately $375 million in October 2018, and Camuto will help the brand design and launch its private label offerings. DSW contributed approximately $56 million for a 40% stake in Camuto Group’s IP, as well as $200 million to acquire all of Camuto Group’s global production, sourcing and design infrastructure.