- Prachi Singh |
Caleres has announced the acquisition of Vionic Group for 360 million dollars. The company said that this acquisition of Vionic allows Caleres to continue to expand its brand portfolio and gives it additional access to the growing contemporary comfort footwear category. The acquisition of Vionic Group is being funded through the company’s revolving credit agreement.
“The acquisition of Vionic is another fantastic opportunity to add a growing brand – with strong consumer loyalty and a solid cultural fit – to our brand portfolio,” said Diane Sullivan, CEO, President and Chairman of Caleres in a statement, adding, “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.”
Vionic’s trailing 12-month sales of approximately 180 million dollars, the company added, reflect a compounded annual growth rate of more than 20 percent over the past six years. The brand derived approximately 25 percent of sales via ecommerce sites over the past 12 months, while international sales contributed approximately 8 percent to total sales.
“Caleres is a great leader in the industry, and we are excited to join their family of outstanding brands. At Vionic, we challenge ourselves every day to reimagine style and science, in order to bring joy to people’s lives – starting with their feet – and we’re delighted to be joining a company with a similar purpose,” added Chris Gallagher, co-founder and CEO of Vionic Group.