Brown Shoe Company, Inc. announced it has acquired the remaining 50 percent interest of Edelman Shoe, Inc., a leading designer and marketer of fashion footwear, from the founders of the company, Sam Edelman and Libby Edelman.
Brown Shoe’s partnership with Edelman Shoe began in 2007 when it purchased a 42.5 percent investment, and expanded its ownership to a 50 percent stake in 2008.
Since the debut of the Sam Edelman brand in 2004, Edelman Shoe has grown to $60 million in sales at wholesale by offering sophisticated, contemporary consumers fresh interpretations of hallmark styles like the ballet flat and gladiator sandal. The company successfully launched the libby. edelman brand in 2008, and is in talks to expand the Sam Edelman brand into accessory and clothing categories including handbags, swimwear and eyewear.
“This is the next step of a tremendous partnership with Edelman Shoe, strengthening our commitment to a family of brands that continues to delight women with innovative design and new perspectives on modern style,” said Brown Shoe Chairman and Chief Executive Officer Ron Fromm.
Sam Edelman and Libby Edelman retain their respective roles as president of the Sam Edelman division and head of marketing, and will continue to be based in Edelman Shoe’s Manhattan offices and design studios.
“This is a significant milestone in the history of Edelman Shoe, and in my and Libby’s careers in footwear. The support of an industry powerhouse like Brown Shoe, with more than 130 years of expertise in building and marketing brands consumers love, guarantees the longevity and integrity of our brand,” said Sam Edelman. (StyleSight)
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