Camuto Group acquires majority stake in Sole Society

By

Obi Anyanwu

Published
Aug 23, 2016

Camuto Group announced on Tuesday that it has acquired a majority stake in Sole Society. This marks as the first digital acquisition for Camuto Group.

 
Camuto acquired Sole Society with the strategy of enhancing its offerings and to continue building on the strong accessories platform. In addition, the company will expand its e-commerce footprint across a variety of brands.
 
Nordstrom will continue to carry Sole Society merchandise at its stores and website and will remain a minority owner.

Alex Del Cielo, Chief Executive Officer of Camuto Group, said, "We are excited to be growing the Sole Society brand platform and creating opportunities through digital innovation and category enhancements. The team at Sole Society continues to be industry leaders in customer satisfaction and we plan to leverage their expertise to provide today's consumer with the best experience in all channels, both online and in-store. Furthermore, we are looking forward to working closely with Nordstrom to develop the business as part of our joint strategic efforts."

Sole Society is a direct-to-consumer footwear platform founded by Brett Markinson in 2012. Markinson launched Sole Society after he sold Hautelook.com to Nordstrom in 2011