Companies

Brazilian Arezzo buys footwear brand Vicenza

Jan 31, 2023 Brazil

The Brazilian 'house of brands' has announced the acquisition of Vicenza by 103.8 million Brazilian reais (20.3 million USD), as part of its expansion strategy in the fashion and retail businesses

According to Arezzo, 60% of the value of the acquisition will be paid in cash and the remainder in shares of Arezzo & Co. The remaining shares owned by the sellers after the purchase, representing 40% of Vicenza's total and voting capital, will be incorporated by the company. This acquisition is part of the company's strategy to diversify its product assortment and increase the brands in its portfolio, with the aim of becoming "one of the largest 'house of brands' in Brazil".

Vicenza has been operating in the footwear and handbags market for over 30 years, producing currently approximately 1 800 units per day. It has a solid footprint online and in multi-brand stores across all Brazilian states, with "an export expansion movement". In 2022, Vicenza had gross operating revenue of approximately 80 million Brazilian Reais (15.6 million USD) and an EBITDA of approximately 13 million Brazilian reais (2.54 million USD).

"I've followed their work for over 15 years and started talking with Rafaela [head of Vicenza] in the last two years, hoping for a moment that would be good for both brands", explained Alexandre Birman, CEO of Arezzo to Pipeline. Arezzo's goal is now to double the share in e-commerce sales and leverage the multi-brand sales points, focusing on the domestic market. Rafaela Furlanetto will remain as CEO's of the brand, reporting in the first year to Alexandre Birman.

Image Credits: brazilianfootwear.com

Brazil Acquisitions Brands Footwear Shoes