Authentic Brands’ Acquisition of Camuto Group

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to DSW Inc. and Wachtell, Lipton, Rosen & Katz LLP is serving as legal advisor to DSW. Paul Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to ABG. MMG Advisors Inc. is serving as financial advisor to Camuto Group. Pryor Cashman LLP is serving as legal advisor to Camuto Group.

Authentic Brands Group LLC (ABG), a global brand development, marketing and entertainment company, has entered into a definitive agreement to purchase a majority stake in the intellectual property of the Camuto Group’s proprietary brands in partnership with DSW Inc. (NYSE: DSW), a leading North American footwear and accessories retailer. This acquisition enhances ABG’s portfolio by significantly growing the company’s stake in the footwear and accessories market and increasing its brands’ collective value to more than $8.3 billion in annual retail sales.

Founded in 2001, the Camuto Group is a legendary footwear and accessories organization best known for the eponymous Vince Camuto brand. Today Vince Camuto comprises key categories including footwear, fragrance, apparel, handbags and accessories and can be found in over 8,000 retail locations including department stores and specialty accounts.

DSW Inc. is known for challenging convention and for its pioneering digital innovation, having twice been named “Best Omnichannel Retailer” by Total Retail. The leading footwear retailer now acquires the Camuto Group operation including its renowned design, sourcing, production and wholesale infrastructure. DSW Inc. will also acquire the licensing rights for Jessica Simpson® footwear, and Lucky Brand® and Max Studio® footwear and handbags. The company will also acquire joint venture participation in the ED Ellen DeGeneres® and Mercedes Castillo® brands.

With this move, ABG takes a page from its acquisition playbook for Aéropostale and Nautica, creating a similar structure that secures a dedicated operating partner in footwear. ABG’s proven know-how in brand building, marketing and business development, combined with the retail, ecommerce and wholesale expertise of DSW Inc., provide a strong foundation for long-term growth.

Wachtell, Lipton, Rosen & Katz advised DSW Inc. with a team led by John L. Robinson (Picture).

Paul, Weiss advised Authentic Brands Group LLC with a team including Justin Hamill (Picture), Thomas de la Bastide; tax partner Lindsay Parks; intellectual property partner Chuck Googe; and antitrust counsel Marta Kelly.

Involved fees earner: Justin Hamill – Paul Weiss Rifkind Wharton & Garrison; Lindsay Parks – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Thomas de la Bastide – Paul Weiss Rifkind Wharton & Garrison; John Robinson – Wachtell, Lipton, Rosen & Katz;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Wachtell, Lipton, Rosen & Katz;

Clients: Authentic Brands Group (ABG); DSW Inc. ;

Author: Ambrogio Visconti