Nine West buys former Canadian licensee
Nine West Holdings has acquired the retail and wholesale businesses of its former licensee Sherson Group, which previously held the rights to the Nine West, Anne Klein and Easy Spirit brands in Canada.
Under the terms of an asset purchase agreement, a newly-formed subsidiary of Nine West Holdings has acquired around 45 store leases and certain contracts related to Sherson's business operations.
The company expects to continue operating the retail stores, employing the majority of Sherson's staff.
Nine West Holdings' footwear group was split into four separate businesses by private equity firm Sycamore Partners last year in a bid to drive long-term growth. The four businesses include Nine West (which comprises the Nine West, Bandolino, Enzo Angiolini and Circa Joan & David brands, and the handbags division), Easy Spirit, NW Jewelry Group and Anne Klein.
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