26 Aug Nine West Holdings Acquires Canadian Licensee’s Business
Nine West Holdings, Inc. has acquired substantially all of the business operations of Sherson Group Inc., which previously held the exclusive rights to the Nine West, Anne Klein and Easy Spirit brands in Canada. The Company intends to continue providing these popular brands to customers across Canada at Nine West mall-based locations and Shoe Studio outlet stores, as well as at leading department stores.
Under the terms of an asset purchase agreement that was consummated Tuesday, August 25, a newly formed subsidiary of Nine West Holdings has acquired approximately 45 store leases and certain contracts related to Sherson’s business operations. The Company expects to continue operating the retail locations and to offer continued employment to a majority of Sherson’s employees.
“We are pleased to have completed this important transaction, which ensures that our loyal customers in Canada will continue to be able to shop for their favorite Nine West, Easy Spirit and Anne Klein footwear and accessories at malls, outlets and department stores across the country,” said Ralph Schipani, interim president, Nine West Holdings. “We are also gratified to be able to provide continued employment to such an outstanding and dedicated group of associates.”