Ohio-based Designer Brands Inc, one of the largest designers, manufacturers and retailers of footwear and accessories in North America and parent company of the DSW Designer Shoe Warehouse and The Shoe Company banners, has acquired Topo Athletic, a U.S. athletic footwear company. Topo founder and CEO Tony Post will remain with the company as CEO of Topo, reporting to Bill Jordan, president of Designer Brands. Post commented, “Nothing really changes in our strategy, sales direction or management team. Designer Brands brings a number of resources that will help Topo continue to grow, innovate and provide a better experience for our customers in the years to come.”
Topo Footwear, founded in 2012 and headquartered in Framingham, Massachusetts, is already recognized in its category in the U.S. and internationally. According to its founder, it is poised for growth with its products and existing distribution. Before founding Topo in 2012, Post was senior vice president of product and marketing at The Rockport Company and then CEO of Vibram USA, where he led the U.S. sole business and launched Vibram FiveFingers.
Topo diversifies Designer Brands’ broader portfolio of private label brands, which include Vince Camuto, Jessica Simpson, Crown Vintage, Mix No. 6, Lucky Brand and Kelly & Katie, and encompasses six of Designer Brands’ top 50 fashion brands. In addition to bringing Designer Brands’ private label business directly into the premium athletic category, the transaction also expands the group’s reach in the outdoor footwear category.
According to Jordan, Designer Brands is in control of its own destiny with more than 30 million customers in its loyalty programs, more than 700 points of distribution and three online platforms with combined sales of more than $1 billion. “We are confident that Topo will further strengthen our owned brands portfolio and help expand our reach around the world following recent year-over-year revenue growth of 25% in owned brands and 33% in our direct-to-consumer channels,” the group’s president said.
With its portfolio of private label brands, Designer Brands delivers footwear and accessories through its robust DTC omnichannel infrastructure, which includes a billion-dollar digital commerce business and nearly 650 stores in the U.S. and Canada. Retail stores under the DSW Designer Shoe Warehouse and The Shoe Company banners offer current footwear and accessories from most of the industry’s largest national brands and hold leading market shares in key men’s, women’s and children’s product categories in North America. Designer Brands also distributes its own brands through select wholesale relationships and leverages its design and sourcing expertise to develop private-label products for national retailers.
