Corporate
Statement

The ALDO Group and Camuto Group Not Pursuing Transaction


October 19, 2017, 5:00 p.m. EST from the ALDO Group & Camuto Group
 
MONTREAL, Canada, October 19, 2017 – On August 2, 2017, the ALDO Group announced plans to acquire Camuto Group’s footwear and accessories businesses. After careful consideration and thoughtful discussion, both parties mutually decided not to pursue the transaction. Instead, they will continue building their businesses autonomously and focus on investments being made to strengthen and grow their respective companies.

Though the organizations are choosing not to move forward with the transaction at this time, they look forward to a bright future partnering together. They will work in close collaboration on a variety of mutual opportunities.
 
David Bensadoun, the ALDO Group’s Chief Executive Officer, said “The ALDO Group continues to be focused on growth. Despite not moving forward with the acquisition, Camuto Group will become a key strategic partner for us. Our two organizations have complementary strengths, capabilities and reach, and we look forward to partnering in ways that will grow both businesses.”

“Working with the team at the ALDO Group over the last several months has been a pleasure”, stated Alex Del Cielo, Chief Executive Officer of Camuto Group. “We have discovered many ways we can partner together and are excited about what the future holds for both organizations.  We continue to believe that ALDO, under the leadership of David Bensadoun, and his strong executive team, will continue to flourish. We look forward to exploring ways to build a platform that will allow both companies to work together on a wide range of global opportunities.”

Bensadoun continued, “We built some great relationships with the Camuto team throughout this process. After several months working closely together there’s no denying that we share similar cultures and values.”


About ALDO Group 

Founded in 1972 by Aldo Bensadoun, who had a vision to create a different kind of company, one built on ethics, compassion and understanding the customer to offer them the best possible products and services every day. The ALDO Group is a world-leading creator and operator of desirable footwear and accessory brands. With 3,000 points of sale in over 100 countries around the world, the organization operates under two signature brands, Aldo and Call It Spring, and a multi-brand retail concept, GLOBO. The ALDO Group is also an industry-recognized wholesale distributor and third-party sourcing provider of fashion footwear, handbags and accessories.  In addition to the Head Office in Montreal, the ALDO Group has international offices in Europe and Asia. Equipped with the values of love, respect, and integrity, the ALDO Group is as unique as its people. For more information, visit www.aldogroup.com



About Camuto Group

Camuto Group is an international company that designs, develops and distributes fashion footwear, accessories and apparel. Founded in 2001, the company is renowned for its ability to develop lifestyle brands on a global scale. Camuto Group builds on the success of Vince Camuto®, extending to brands that include Louise et Cie®, Two By Vince Camuto®, Vince Camuto™ men’s, Imagine Vince Camuto® and 1. STATE®. Camuto Group also holds footwear licenses for Jessica Simpson®, as well as footwear and handbag licenses for Lucky Brand® and ED Ellen DeGeneres™. To expand Camuto Group’s platform and develop apparel opportunities for partners, the company acquired Bernard Chaus Inc. in 2015. As part of the company’s focus on digital innovation and demand prediction, Camuto Group added Sole Society® to its stable of brands in 2016. Camuto Group products are sold in more than 5,400 doors worldwide.



SOURCE the ALDO Group & Camuto Group

For more information, please contact:

Geneviève Sharp, Group ALDO
press@aldogroup.com
514 991-4361
 
Sarah Rosen, Camuto Group
press@camutogroup.com
646 699-2031