German sneakers retailer Snipes buys US chain Expressions
German sneakers retailer Snipes is going on a shopping spree in the USA. After acquiring the Jimmy Jazz chain with its 170 stores in December, Snipes, owned by the Deichmann group, has bought another US retailer, Expressions, a chain based in New England. The value of the transaction has not been disclosed.
Expressions sells trainers by all the major brands, and operates 35 stores across the states of Massachusetts, Connecticut and Rhode Island. The chain was founded in 1989 and “it is not only contiguous with our current retail footprint, but it shares our commitment to satisfy sneakers and streetwear fans in their local communities. This acquisition highlights the importance of the US market for Snipes, and the huge growth potential we see there,” said Snipes’s founder and CEO Sven Voth.
Thanks to these two acquisitions, Snipes now has a total of 300 stores in the USA, bringing the total number of stores operated globally by the company, which was founded in 1998, to 680, between the USA and Europe. Snipes is clearly on a fast growth path, as it “only” had 230 stores three years ago.
In Europe, Snipes stores are to be found in Germany, Austria, Switzerland, the Netherlands, Spain, France, and Italy.
Copyright © 2022 FashionNetwork.com All rights reserved.