Brazilian footwear giant, Arezzo & Co, has acquired My Shoes, a local women’s footwear brand that has been inactive for the past three years. In addition, the company has partnered with e-commerce giant Mercado Libre to sell and distribute My Shoes products on its platform and use the Mercado Shops services to create an exclusive online store for the soon-to-be relaunched brand.
According to the company, the acquisition allows Arezzo & Co to enter a more accessible segment of the footwear market, with a consumer base that represents about 44 percent of the Brazilian market.
“[It’s] a market with enormous potential that is currently unexplored by our company,” said Alexandre Birman, CEO of Arezzo & Co.
Giovanni Bianco, who has worked with Arezzo & Co for many years, will be creative director of the My Shoes brand and Mercado Libre will be responsible for the brand’s marketing and the logistics side of the My Shoes business.
Arezzo & Co’s stable includes footwear brands Arezzo, Schutz, Anacapri, Alexandre Birman, Fiever, Alme and Vans. It also operates the ZZ Mall marketplace, resale platform Troc and lifestyle brands AR & Co, including Reserva and its portfolio of fashion brands.
Further Reading: Arezzo & Co’s Q1 Profit Rises 310%
The Brazilian footwear and accessories conglomerate registered an adjusted net income of 29.6 million Brazilian reais ($5.6 million) in the first quarter of 2021.