Caleres forms international JV with Brand Investment Holding
Caleres announced an expansion of its international strategy. The company will begin to distribute footwear in greater China, including Hong Kong, Macau and Taiwan, through a joint venture with Brand Investment Holding, a member of the Gemkell Group. Naturalizer and Sam Edelman will be the inaugural brands and both will be marketed and sold across multiple channels, including branded retail stores and e-commerce sites. "This strategic partnership allows Caleres to continue to expand globally in one of the world's biggest markets and pairs our footwear expertise and brand strength with Gemkell's deep knowledge of the Chinese consumer and retail expertise," said Diane Sullivan, CEO, president and chairman of Caleres. "We believe now is the right time to significantly expand our presence in China and are beginning with Naturalizer, as we look to create fresh momentum with the Chinese consumer, and are also aggressively building on the strong foundation Sam Edelman has established in China over the past few years."