20 Jan Aerosoles Acquired By American Exchange Group
American Exchange Group, a maker of accessories, announced it had finalized an agreement to acquire the assets of the comfort footwear brand, Aerosoles. The companies intend to expand distribution and introduce the brand to new categories and customers.
“This acquisition marks an exciting new chapter in the evolution of American Exchange Group. We look forward to supporting the future growth of this brand and are excited to welcome Aerosoles into our brand portfolio,” said Alen Mamrout, CEO, American Exchange Group.
“Our strategy is to have the Aerosoles brand function as a separate division to ensure the focus on the core brand DNA that has made Aerosoles such a great name in the footwear category. We are pleased that the team from Aerosoles will be joining our organization to execute our vision,” said Steve Velasquez, chief strategy officer, American Exchange Group.
Aerosoles sells its product line at Nordstrom, Nordstrom Rack, Macy’s, Saks OFF 5TH, DSW, Zappos, Belk, and its website.