Caleres Announces Newly Created International Joint Venture
July 08 2019 - 4:15PM
Business Wire
Strategic partnership designed to expand
distribution of Caleres brands in China
Caleres (NYSE: CAL) (caleres.com), a footwear industry leader
with a diverse portfolio of global brands, today announced an
expansion of its international strategy. The company will begin to
distribute footwear in greater China, including Hong Kong, Macau
and Taiwan, through a joint venture with Brand Investment Holding,
a member of the Gemkell Group. Naturalizer and Sam Edelman will be
the inaugural brands and both will be marketed and sold across
multiple channels, including branded retail stores and e-commerce
sites.
“This strategic partnership allows Caleres to continue to expand
globally in one of the world’s biggest markets and pairs our
footwear expertise and brand strength with Gemkell’s deep knowledge
of the Chinese consumer and retail expertise,” said Diane Sullivan,
CEO, president and chairman of Caleres. “We believe now is the
right time to significantly expand our presence in China and are
beginning with Naturalizer, as we look to create fresh momentum
with the Chinese consumer, and are also aggressively building on
the strong foundation Sam Edelman has established in China over the
past few years.”
“We look for opportunities to partner with storied brands like
Naturalizer and Sam Edelman, which we find to be well-suited to our
expertise in brand management and marketing,” said Kwan Heh-Der,
CEO of Brand Investment Holding. “Caleres’ long history in the
footwear industry – and its deep understanding of brand marketing,
consumer engagement and retail – make the Caleres team a natural
complement to our own.”
Both Naturalizer and Sam Edelman will be available online in the
summer of 2019, with availability at brick and mortar in an initial
group of six new stores in key cities. This summer, the first
Naturalizer door will open in Beijing and the first Sam Edelman
door will be launched in Shanghai. Additional stores are planned
for other markets, as the business expands.
About Caleres
Caleres is the home of today’s most coveted footwear brands
around the world and represents a diverse portfolio spanning all of
life’s styles and experiences. Every shoe tells a story, and
Caleres has the perfect fit for every one of them. Caleres’ brands
live in all channels of today’s global marketplace, including our
1,200+ branded retail locations, as well as department and
specialty stores, branded e- commerce sites, and many third-party
retail sites. We have developed our brand collections, and acquired
others, to meet the evolving needs of today’s assorted and growing
audiences. Consumer insights drive every aspect of the innovation,
design and craft that go into our distinctly positioned brands,
including Famous Footwear, Sam Edelman, Naturalizer, Allen Edmonds,
Vionic, and Dr. Scholl’s Shoes.
Caleres’ 140-year legacy of craftsmanship provides our
foundation. But our next chapters are being written through
investments in technology, trend research, manufacturing,
sustainability, sourcing, and the brilliant people who will lead us
into the future – helping Caleres deliver the strongest, most
desired brand portfolio in the market
The Caleres story is most simply defined by the company’s
mission: Inspire people to feel great…feet first. Visit caleres.com
to learn more.
About Brand Investment Holding
Brand Investment Holding, Ltd. is a multi-brand retail
management and distribution company based in Shanghai, with retail
operations in the Greater China and Asia Pacific regions. The
company is led by Kwan Heh-Der, who has vast knowledge and
experience in business management and retail operations in Greater
China and most recently served as chief executive officer of
Pousheng International (Holdings) Limited, one of the largest
retailers in the China sportswear market listed on the Hong Kong
Stock Exchange with over 20,000 employees and 8,000 points of
sale.
The Gemkell Group operates luxury fashion retail boutiques,
including Balenciaga, Chloé, Givenchy, Kenzo and Marc Jacobs, in
the Asia Pacific Region and is dedicated to expanding into the
Greater China luxury fashion market. Visit gemkell.com to learn
more.
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version on businesswire.com: https://www.businesswire.com/news/home/20190708005684/en/
Investors Peggy Reilly Tharp, Caleres ptharp@caleres.com
Media Holly Campbell, Caleres hcampbell@caleres.com
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