Genesco has reached an agreement to acquire the intellectual property and related assets of H.S. Trask, the brown shoe and boot brand, from Phoenix Footwear.
The agreement, entered into on May 13, was included in Phoenix Footwear’s first-quarter earnings report. The price was not disclosed. As part of the Agreement, Genesco has provided the Company with a 90 day royalty free license to sell all remaining H.S. Trask inventory in its possession. As of the closing, the Company had approximately $150,000 of H.S. Trask inventory on hand.