Stonefly S.p.A. has entered into an agreement with Etonic Worldwide LLC for the sales and distribution of its line of comfort footwear in the U.S. market. In addition, the two companies are planning to develop a line of casual walking products under the Etonic brand slated for introduction to the retail market in the Fall of 2009.
After almost a decade of direct distribution in the U.S. through a wholly owned subsidiary, Stonefly will strengthen its presence in one of the worlds most important comfort shoe markets through a partnership with Etonic, a Waltham (Boston) based company. Etonic will assist Stonefly in developing its distribution base and in building its brand presence in better shoe stores, tanneries, and upscale department stores in the US market.
Etonic will organize a dedicated business unit for the new project under the direction of CEO Tom Elwell. “Since I re-joined the company in April of last year, we began an extraordinary effort to re-launch Etonics core business units. At the same time, we have been thinking about new opportunities related to Etonics heritage as a shoe manufacturer and we believe Stonefly represents a perfect fit for our long term goals,” said Elwell.
“Stonefly reached a peak of $5 millions in sales in the US market a couple of years ago and we believe we can get back to that figure and even beyond through our partnership with Etonic. Stonefly and Etonic will “walk” very well together!” said Andrea Tomat Stonefly President.
