Leading Brazilian footwear and accessories conglomerate Arezzo & Co has purchased Brazilian high-end womenswear brand Carol Bassi, for 180 million reais ($32 million).

The brand, founded in 2014, is expecting to see revenue of $58 million reais ($10.2 million) this year with a 36 million reais ($6.4 million) contribution from its only physical store at Shopping Cidade Jardim.

“Arezzo & Co will bring us the structure we need to accelerate our growth,” said Carol Bassi founder, Anna Carolina Bassi, in a press statement.

This is the second acquisition of an apparel brand for Arezzo & Co in 2021. In June, it purchased Gen-Z targeted streetwear brand BAW for $20 million. With the purchase of Carol Bassi, the Sao Paulo-based group marks its first foray into womenswear.

Arezzo & Co’s brand portfolio includes Arezzo, Schutz, Anacapri, Alexandre Birman, Fiever, Alme and Vans. It also operates the ZZ Mall marketplace, resale platform Troc and AR & Co, which includes BAW, Reserva and its own portfolio of fashion brands.

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Leading Brazilian footwear and accessories conglomerate Arezzo & Co saw third quarter net revenue reach 777.9 million Brazilian reais ($141 million), up 86.8 percent year-on-year, according to its latest financial earnings report.