NEW YORK, Nov. 20, 2015 (GLOBE NEWSWIRE) -- Camuto Group announced today the acquisition of the remaining shares of Bernard Chaus Inc. (“BCI”), transitioning BCI into a wholly owned subsidiary of Camuto Group. Ariel Chaus will remain in his role as Chief Executive Officer of BCI and will work closely with Camuto Group’s Chairman and Chief Executive Officer, Alexander Del Cielo, to develop an even stronger platform for brands to grow through footwear, apparel and handbags.
The union of the two organizations facilitates a platform for the development of new brand opportunities while also enriching current businesses for both companies. Del Cielo stated that “Camuto Group and Chaus have always shared the same strategic vision. Together, we have established a 360˚ multi-category brand foundation and are positioned to achieve enhanced success through brand extensions as well as prospective opportunities. Ariel and Josephine Chaus have been committed partners since we first began our association in 2010. Ariel has transformed the Chaus organization over the last few years and is committed to continuing to build the existing brand portfolio while also cultivating new businesses that drive top-line growth and profitability.”
“The collaboration between Camuto Group and Bernard Chaus Inc. is part of a long-term strategy where combined operations fuel innovation and growth,” Ariel Chaus asserted. “We are market leaders in apparel, footwear, licensing and marketing and the platform we have created does not exist in this segment of our industry. I am excited to partner with Camuto Group and build upon our successes in sportswear with Vince Camuto and the new brands we have recently launched. This opportunity represents not only the next step for Bernard Chaus Inc., but one for me personally. I have great respect for Alex and my relationship with him mirrors the close connection I had with Vince Camuto. We share the same commitment to brand integrity and we are aligned in our approach to the business. I am looking forward to beginning this new chapter while building upon the strong foundation that exists today.”
The enhanced partnership is effective immediately and growth plans are already in development for the expansion of existing brands into new categories and the launch of several new businesses.
ABOUT CAMUTO GROUP
Camuto Group is a leading organization for design, development and distribution of women’s fashion footwear and was founded by fashion industry icon Vince Camuto. Renowned for its ability to develop lifestyle brands on a global scale, Camuto Group is building on the success of Vince Camuto® and VC Signature Vince Camuto™—extending into collections such as the recently introduced Louise et Cie®, Two By Vince Camuto®, a menswear line and Imagine Vince Camuto®. Camuto Group also holds the footwear licenses for brands such as BCBGeneration®, BCBGMAXAZRIA®, Lucky Brand®, Jessica Simpson® and ED BY ELLEN DEGENERES™. The company’s portfolio also includes the sourcing of footwear for Tory Burch® and All Saints®. Camuto Group and its partners operate 120 retail locations globally and products are sold in more than 5,400 doors worldwide.
ABOUT BERNARD CHAUS INC.
Bernard Chaus, Inc. and Subsidiaries (the “Company”) designs, sources, and markets nationally and internationally an extensive range of women’s career, casual sportswear, and dresses. Their products are sold through all major levels of retail distribution principally under the VINCE CAMUTO®, Two BY VINCE CAMUTO®, CHAUS®, 1. STATE®, CYNTHIA STEFFE®, CeCe BY CYNTHIA STEFFE® and CeCe® trademarks and under private label brand names.