The move will bring Designer Brands Inc. into the premium athletic footwear category and is another move in their plan to expand their portfolio of owned brands.
As part of the agreement, Topo Founder and CEO Tony Post will join the company as CEO of Topo 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,” said Jordan. “We are confident Topo will continue to strengthen our owned brands portfolio and help extend our reach around the world.”
“Topo’s focus on helping people achieve healthy lifestyle goals aligns perfectly with Designer Brands’ mission to inspire self-expression,” said Post. “We found synergy with their management team from our first meeting. They understand our brand mission, they support our strategy and focus around specialty retail and they’re excited about our growing global footprint. Nothing really changes in our strategy, distribution direction or the management team.”
