This acquisition, closed for an undisclosed amount, is expected to bring Designer Brands' owned brand business "immediately into the premium athletic category": Topo footwear, founded in 2012, is already renowned in its category both across the US and internationally. Topo Athletic's founder and CEO, Tony Post, will remain with the company at the helm of the brand, and report to Bill Jordan, President of Designer Brands.

"Topo represents another exciting growth opportunity for Designer Brands and further propels us to our goal of doubling sales of our Owned Brands by 2026", commented Bill Jordan, President of Designer Brands. "Following our most recent year-over-year quarterly sales increase of 25% in Owned Brands and 33% within our Direct-to-Consumer channels, we are confident Topo will continue to strengthen our Owned Brands portfolio and help extend our reach around the world", he added. The specializing retailer joins then the company's portfolio of owned brands, which already includes Vince Camuto, Jessica Simpson, Crown Vintage, Mix No. 6, Lucky Brand, and Kelly & Katie.

"We found synergy with their management team from our first meeting. They understand our brand mission, they support our strategy and focus around speciality retail, and they're excited about our growing global footprint. Nothing really changes in our strategy, distribution direction or management team. Designer Brands brings a deep set of resources that will help Topo continue to grow, innovate and deliver a better experience for our customers for years to come", furthered Tony Post about the deal.