Turkish footwear giant Ziylan Group said Tuesday it was acquiring Italian shoe firm Lumberjack.
To purchase the label from 3AAntonini, which founded Lumberjack in the 1980s, the group has created an Italian company, Brand Park, which will manage the label from its new Milan headquarters.
“In 2023, the Turkish Republic will celebrate its 100th anniversary and our national goal is to become one of the 10 biggest economies in the world. To achieve this result, it’s important to create international brands and make them competitive on a global scale,” said Ziylan Group President Mehmet Ziylan. “Of course, our group is focused on this mission, and the acquisition we made in Italy, the heart of the footwear business, is the first step allowing us to be present among international brands.”
Even if Ziylan Group is still defining where the Lumberjack collections will be produced, the company said it plans to make investments to reinforce the creative team with the appointments of international designers.
And the new company has ambitious goals. Under Ziylan Group, Lumberjack, which closed 2011 with revenues of 35 million euros, or $45.5 million at current exchange, expects to generate sales of 250 million euros, or $325 million, in five years.
Brand Park GM Massimiliano Rossi, who joined Lumberjack in 2008, also confirmed that the company will focus on a brand extension to develop several merchandise categories, including apparel and leather goods.
“We will work to grow as a brand and find the best manufacturers for all categories to offer competitive products, featuring high quality at affordable prices,” he said.
Lumberjack, which is the official sponsor of a national soccer team and of the LCR Honda MotoGP team also is developing collaborations with giant automaker Fiat, including the launch of a customized “Fiat Strada by Lumberjack” pickup truck.