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Brazil's Arezzo acquires domestic footwear brand Vicenza
19 Jan '23
1 min read
Pic: Arezzo
Brazilian footwear, bags and accessories manufacturer Arezzo Industria E Comercio S.A. recently announced acquiring domestic footwear and handbags brand Vicenza as part of its strategy to expand its business in the fashion and retail sector. Vicenza had gross operating revenue of approximately BRL 80 million (approximately $15.33 million) and EBITDA of approximately BRL 13 million in 2022.
EBITDA represents earnings before interest, taxes, depreciation and amortisation.
Calçados Vicenza Ltd has been operating in the footwear and handbags market for over 30 years, with its own production of approximately 1,800 units per day and a solid presence in e-commerce and multi-brand stores, with a presence in all Brazilian states and an export expansion movement.
The decision was approved at a January 16 meeting of Arezzo’s board of directors, a release from the company said.
Fibre2Fashion News Desk (DS)
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