Allen Edmonds Sold for $255 Million
As many of you know (and thanks for all the tips), Allen Edmonds has been sold. Again.
A mere three years after Allen Edmonds was sold to a private equity firm, this time Allen Edmonds has been sold to a company who has had their feet in the shoe business for a very, very long time.
Caleres, Inc. is the company in question. Formally known as the Brown Shoe Company, you might be familiar with them as the people behind the Famous Footwear shoe store chain.
Word is that current Allen Edmonds CEO, Paul Grangaard, is staying on board. Just as he did through the previous sale three years ago.
I’m not going to pretend to know a damn thing about the nuts and bolts of the business side here, because I don’t. But I think a lot of us customers are wondering if any changes will come about because of the sale. Whether it be in quality, designs, whatever.
Is it possible that this sale could make Allen Edmonds even better? Of course! But for those of us who love the quality and style that Allen Edmonds delivers, for an oddly reasonable price, I think it’s also fair to hope that the new owners don’t try to mess around with all the great things so many of us love about Allen Edmonds. Caleres isn’t exactly known, currently, for their men’s shoes. The two most recognizable men’s brands from their portfolio? That’d be George Brown Bilt and… Dr. Scholl’s.
Mr. Grangaard? You got this sir.
More discussion about the sale can be found over on Threads. (One well thought out, very reasonable post worth highlighting is what hornsup84 had to say.)