Genesco Inc. agreed to acquire the 37-store Little Burgundy footwear and accessories chain in Canada from Aldo Group Inc. Based in Montreal, Little Burgundy serves fashion-oriented 18- to 34-year-olds selling brands including Converse, Vans, Nike, Toms, Timberland, Hunter and Herschel.
Genesco plans to retain Little Burgundy's head office and store-level employees. Margaret Thouez will continue as SVP, GMM of Little Burgundy, reporting to James Estepa, president and CEO of Genesco's Journeys Group.
The acquisition will expand Genesco’s customer base in Canada and enable to company to further scale existing Canadian omni-channel operations.
“After spending time in the Little Burgundy stores, we quickly recognized that Little Burgundy and Journeys share similar values, cultures and goals,” said Estepa. “Like Journeys, Little Burgundy employees embody their customers' lifestyle and attitude and we are excited to welcome them to the Journeys Group.”
Journeys first entered the Canada in 2013 and had 35 stores in operation at the beginning of the year. Genesco’s other subsidiary, Lids Sports Group, has about 155 stores in Canada.
The transaction is subject to customary closing conditions. Terms were not disclosed.
