Aldo, a Canadian shoe company, bought a family-owned company that manufactures fashionable shoes and accessories, founded by Vince Camuto, a well-known fashion entrepreneur who died in 2015. The deal was not disclosed, according to analysts, it did not exceed $ 600 million, writes lesaffaires.com.
Acquiring a business in Connecticut will make Quebec Aldo, which today owns a chain of 3000 stores in one hundred countries, an even more influential player in the fashion industry. Camuto sells shoes, bags, clothes and accessories, and also produces shoes for various brands such as the Jessica Simpson Collection, Tory Burch and Lucky Brand. The clothing destination will remain in the hands of the Camuto family. For Aldo, this transaction means the acquisition of an enterprise that has solid experience in the wholesale business in the US market.