The parent company of DSW, Designer Brands, is acquiring Topo Athletic, further cementing its authority in the premium athletic category.
Topo Athletic is a globally recognized footwear brand that specializes in running, walking, and hiking shoes.
Upon the deal’s completion, Topo’s founder Tony Post will continue to serve as the brand’s chief executive and report to Bill Jordan, president of Designer Brands.
Before launching Topo, Post was senior vice president of product and marketing at The Rockport Company. He later served as the CEO of Vibram USA, managing the U.S. sole business and launching Vibram FiveFingers.
“Topo represents another exciting growth opportunity for Designer Brands and further propels us to our goal of doubling sales of our Owned Brands by 2026,” said Jordan.
"Tony Post's visionary leadership reminds us why the best athletic shoes must deliver a better experience, so our customers become passionate about our brands," he added. "Designer Brands continues to control its destiny with more than 30 million customers in its loyalty programs, more than 700 points of distribution and three online platforms that total more than $1 billion in sales. Following our most recent year-over-year quarterly sales increase of 25% in Owned Brands and 33% within our Direct-to-Consumer channels, we are confident Topo will continue to strengthen our Owned Brands portfolio and help extend our reach around the world."
The acquisition makes Topo the latest entrant in the portfolio of Designer Brands, which includes Vince Camuto, Jessica Simpson, Crown Vintage, Mix No. 6, Lucky Brand, and Kelly & Katie.
The Consello Group served as a financial advisor, and Porter Wright Morris & Arthur LLP served as a legal advisor to Designer Brands. Meanwhile, Consensus served as a financial advisor and Goodwin Procter served as a legal advisor to Topo Athletic.
Photo credit: Topo
