Genesco Inc. is expanding its presence in Canada — and targeting the millennial shopper with the acquisition of footwear retailer Little Burgundy from Aldo Group.
The terms of the deal were not disclosed and are subject to review.
The Nashville, Tenn.-based retail and licensed-brands firm, which owns stores like Journeys and Lids, said its Canadian subsidiary had entered into the agreement.
Little Burgundy, which has 37 stores in Canada, specializes in an 18-to-34 year-old, fashion-focused shopper. The stores offer a mix of outdoor, lifestyle and athletic footwear and accessories. Brands carried include Adidas, Nike and other athletic names, as well as Ugg, Herschel, Hunter, Vans and Timberland, plus fashion labels like Jeffery Campbell and Sam Edelman.
Genesco said it plans to retain the chain’s current administrative and store-level employees. Margaret Thouez, Little Burgundy’s division leader, has a new title: SVP and general merchandising manager. She will report to Jim Estepa, president and CEO of Genesco Journeys Group.
“In addition to giving us access to a broader customer base than we currently target in Canada — one that is well-served by Little Burgundy in stores and online — the acquisition will add scale to our existing Canadian omnichannel operations,” said Genesco Chairman, CEO and President Robert Dennis, in a statement.