Snipes is continuing its ambitious U.S. expansion plan with the acquisition of the New England-based sneaker retailer Expressions.
Snipes on Tuesday signed an agreement to purchase Expressions, which operates 35 stores across Massachusetts, Connecticut and Rhode Island. The deal marks the next step in Snipes’ plan to grow its U.S. retail presence with the addition of more stores with strong connections to local communities. The terms of the deal were not disclosed.
“Expressions is not just adjacent to our current footprint, but shares our commitment to serve sneaker and streetwear enthusiasts in their communities,” said Sven Voth, CEO and founder of Snipes. “This acquisition further underlines both the importance of the U.S. market to Snipes and the potential for growth we see there.”
The deal marks Snipes’ second major U.S. acquisition in recent months and another example of the retailer going all-in on its U.S. presence. In December, the company acquired American sneaker chain Jimmy Jazz, which operates over 170 stores in the U.S. The deal took Snipes’ U.S. retail presence from 100 to almost 270 locations.
This most recent acquisition further grows Snipes’ total global store count from about 650 stores to 680 stores.
“Snipes has a proven track record of investing in companies they buy to set them up for accelerated growth, which gave me confidence that they are the right partner for this next step of our company’s rich history,” owner of Expressions Todd Quarles said in a statement.
Snipes first entered the U.S. market in May 2019 with the acquisition of KicksUSA. Since then, the retailer has made headlines for other major moves, including the purchase of Mr. Alan’s in July 2019 and the stateside introduction of its elevated Snipes 2.0 concept in July 2020.
In October, Snipes announced the opening of a new store in Brooklyn, marking its second door on Flatbush Avenue. In an interview with Snipes president Jim Bojko at the time, he said the retailer’s footprint will only continue to grow.