Shareholders of Brown Shoe Co have approved the company's new name, Caleres, as part of a rebranding initiative.

The rebranding to Caleres is effective immediately, and the company's new ticker symbol for the New York Stock Exchange will be CAL. It will begin trading with this today (29 May).

The rebranding initiative, which kicked off last month, was aimed at positioning the business for accelerated growth and global expansion.

The name Caleres is from a Latin word that means 'passionate, to glow', and featuresa 'star-five-star' mark as its logo.

Brown Shoe says the name and logo represent its vision to be "ferocious about fit" in everything it does, whether it be in terms of production, style, trends or service.