Aerosoles to be acquired by American Exchange Group
The Aerosoles footwear brand is to be acquired by American Exchange Group.
In a statement, American Exchange Group said the move will present significant growth opportunities by enabling the two companies to expand distribution channels and introduce Aerosoles to new categories and reach new audiences.
Alen Mamrout, chief executive of American Exchange Group, said: “This acquisition marks an exciting new chapter in the evolution of American Exchange Group. We look forward to supporting the future growth of this brand and are excited to welcome Aerosoles into our brand portfolio.”
Aerosoles products are currently sold at retailers such as Nordstrom, Macy’s, DSW, Zappos and Belk as well as online at aerosoles.com.
Steve Velasquez, chief strategy officer of American Exchange Group, added: “Our strategy is to have the Aerosoles brand function as a separate division to ensure the focus on the core brand DNA that has made Aerosoles such a great name in the footwear category. We are pleased that the team from Aerosoles will be joining our organization to execute our vision.”