Hardy Enters Footwear Industry With Acquisitions

Hardy Enters Footwear Industry With Acquisitions
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Hardy Capital Partners, along with a team of investors, has acquired Seattle-based Onlineshoes.com and Vancouver, British Columbia-based Shoeme.ca, the company announced this week.

With the intention of creating the largest online footwear operation in Canada, the partnership marks the first time Hardy Capital has ventured into this industry. Founder Roger Hardy, who is the former CEO of online eyewear retailer Coastal Contacts Inc., told Footwear News that the two footwear sites will have a renewed goal of increasing their reach domestically and abroad.

“We’re focused on growing the business internationally, as well as providing a more rich on-site shopping experience than has traditionally been provided in the category,” Hardy said.

“There will always be a focus on increasing [key product] selection to provide our current and future customers with an even better shopping experience,” he added.

Onlineshoes.com and Shoeme.ca will continue operating under their own names, but Hardy, who will helm the joint leadership team as chairman and CEO, said both will undergo updates later this year.

Sean Clark, founder of Shoeme.ca and a former employee of Coastal Contacts, will remain president while a 100-day consolidation plan is enacted.

Overall, more than 350 brands will be offered across the two sites, and Hardy predicts a combined annual revenue of 200 million Canadian dollars (or $186 million at current exchange).