Brown Shoes divests online Shoes.com unit
Footwear retailer Brown Shoe has sold its online business, Shoes.com, as it looks to invest in more strategic omnichannel, online and mobile efforts.
The sale was made to Canadian online shoe retailer SHOEme, and has closed with immediate effect. Financial details of the transaction were not disclosed.
Brown Shoe CEO Diane Sullivan said Shoes.com had helped the company advance its e-commerce efforts, and at a pace head of the industry. It also served as the platform for many of the firm's branded wholesale e-commerce sites, she said, including Naturalizer.com, SamEdelman.com and ViaSpiga.com.
"While Shoes.com has been a beneficial part of our company, we believe now is the right time to focus our attention on Famous.com and our branded wholesale e-commerce sites, as we continue to expand and invest in more strategic omni-channel, online and mobile efforts," she added. "With over 1,000 brick-and-mortar locations, an established online presence and over 1m mobile app downloads, we believe Famous Footwear will be the leading omni-channel destination for the footwear industry."
Brown Shoe said it doesn't expect the sale to have a negative impact on operations going forward.
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