Greenwich footwear firm to run Nine West unit
Updated 4:08 pm, Tuesday, June 12, 2018
Greenwich-based Marc Fisher Footwear has been chosen to run Nine West’s footwear business after Authentic Brands Group beat out rival DSW with a $340 million bid for the assets of bankrupt Nine West.
The sale agreement is subject to a judge’s approval, with a hearing scheduled June 18.
In addition to having Marc Fisher Footwear run Nine West’s shoe business, Authentic Brands Group is bringing in Los Angeles-based Signal Brands to handle the company’s handbag and leather goods division.
Marc Fisher is the son of the late Jerome Fisher, who co-founded Nine West alongside the late Greenwich shoe designer Vince Camuto. Marc Fisher Footwear has its office at 777 W. Putnam Ave. in Greenwich on the Westchester County, N.Y., line.
Authentic Brands Group is based in New York City and run by founder and CEO Jamie Salter to invest in luxury consumer businesses, with its backers including the private equity firm General Atlantic, which has offices in Greenwich and New York City.
In April, Authentic Brands Group acquired the Nautica brand previously owned by VF Corp., a deal that Authentic Brands Group stated pushed its retail revenues past the $7 billion plateau annually.
In addition to its namesake women’s shoes, Marc Fisher Footwear’s shoe brand portfolio includes Guess, Ivanka Trump, Kendall + Kylie and Tommy Hilfiger. Earlier this year, Marc Fisher Footwear acquired and reintroduced the Easy Spirit line of comfort shoes.
Leading up to its Chapter 11 bankruptcy filing in early April, Nine West had closed multiple southwestern Connecticut stores including in Danbury and Norwalk. Along with Jones New York, the company was acquired in 2014 by affiliates of Sycamore Partners, a retail private equity firm run in New York City by Stefan Kaluzny and Peter Morrow.
At the time of its bankruptcy filing, Nine West listed nearly 50 creditors owed amounts ranging between $1 million and $17 million, the large majority of them suppliers from China and other Asian nations.
Alex.Soule@scni.com; 203-842-2545; @casoulman