Brown Shoe Company Inc announced it has entered into an agreement with Sam Edelman and his wife Libby to make an investment in Edelman Shoe Inc.
This investment will allow the Edelmans to accelerate the development and expansion of the Sam Edelman brand, a growing women's fashion footwear brand launched in 2004 by industry veteran Sam Edelman.
The brand is young, fun, and fresh with crossover appeal and relevance for women of all age groups, and is sold in better department stores, including Belk, Bloomingdale's, Macy's, Neiman Marcus Cusp, Nordstrom, and Von Maur, as well as Victoria's Secret catalogue and over 500 independent and specialty stores across the country.
Additionally, Edelman Shoe has plans to open its first retail store in New York City in 2008, followed by stores in Los Angeles, Las Vegas, and South Beach. Edelman Shoe also markets the SE Boutique and Sam Edelman Kids brands.
Sam Edelman and Libby Edelman maintain a majority interest in the company and Brown Shoe has acquired an option to buy the remaining interest in the future.
"We are excited to partner with Sam Edelman in developing and growing a brand that has already established strong consumer appeal," said Brown Shoe Chairman and CEO Ron Fromm.
"We believe there is a significant growth opportunity for this brand and that Brown Shoe's sourcing and distribution expertise will be a great complement to Sam's creativity, product vision, entrepreneurship, and over thirty years of experience."
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