Aldo to ac­quire Ca­muto Group

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This deal takes part of Aldo’s con­tin­ued ex­pan­sion, and ac­cord­ing to their man­age­ment it will “sig­nif­i­cantly in­crease both com­pa­nies’ ca­pa­bil­i­ties and reach, and en­hance their abil­ity to of­fer the widest se­lec­tion of footwear, hand­bags, and ac­ces­sories through all chan­nels, in­clud­ing owned stores, fran­chise, on­line and whole­sale”. David Ben­sadoun, Aldo Group’s Chief Ex­ec­u­tive Of­fi­cer, com­mented: “We’re thrilled to have found a part­ner that has the skills and in­fra­struc­ture re­quired to sup­port our vi­sion. Both of our com­pa­nies are heav­ily prod­uct ori­ented, and they each evolved in dif­fer­ent ways. While the Also Group comes from re­tail and has fo­cused on in­ter­na­tional ex­pan­sion, Ca­muto Group is an ex­pert in whole­sale and a pow­er­ful player in the US mar­ket. We are very ex­cited about the ways the two or­ga­ni­za­tions can help each other grow, lever­ag­ing each other’s strengths.” Based in Green­wich, Con­necti­cut, the Ca­muto Group is a pri­vately-owned lead­ing or­ga­ni­za­tion, founded by fash­ion in­dus­try icon Vince Ca­muto. The Ca­muto Group’s de­sign skills, ex­cel­lent dis­tri­bu­tion net­work and sourc­ing ca­pa­bil­i­ties have made it to at­trac­tive for Aldo. The Canada-based group be­lieves they can add their broad in­ter­na­tional and cross-channel ex­pe­ri­ence to that, un­lock­ing Ca­muto Group’s global po­ten­tial. Alex Del Cielo, Louise Ca­muto, and the ex­ec­u­tive team have led the com­pany through a pe­riod of steady growth. el Cielo will re­main in his role as Chief Ex­ec­u­tive Of­fi­cer of Ca­muto Group and will re­port to the ALDO Group’s Chief Ex­ec­u­tive. he Aldo Group will pre­serve Ca­muto’s au­ton­omy, each brand’s iden­tity as well as re­tain­ing key tal­ent, en­sur­ing for a smooth tran­si­tion. “Af­ter spend­ing time with Alex Del Cielo and his lead­er­ship team, we quickly rec­og­nized that we share sim­i­lar val­ues and strate­gic vi­sion. This is a per­fect fit. One fam­ily busi­ness is ac­quir­ing an­other fam­ily busi­ness and from the very first meet­ings, we could feel a very sim­i­lar cul­ture,” men­tioned Ben­sadoun.

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