The marriage will significantly increase both companies’ capabilities and broaden their reach in a major way. Aldo derives most of its business from retail and international, while Camuto has robust wholesale and licensing operations and is focused mainly on the U.S market.
Terms of the agreement were not disclosed and the deal is subject to customary closing conditions. The new company will operate two distinct offices, one in Greenwich, Conn., where Camuto is based, and the other in Montreal, where Aldo is headquartered. (The Camuto family will continue to operate the company’s apparel businesses.)