Genesco, owner of Journeys, announced Tuesday that its Canadian subsidiary has entered into an agreement with the Aldo Group Inc. to acquire the 37-store Little Burgundy retail chain in Canada.
The Montreal-based footwear and accessories retailer targets the 18- to 34-year-old men’s and women’s market, and stocks a trove of fashion-oriented brands, including Fred Perry, Palladium, Michael Kors and Reef.
In a press release, Genesco Chairman, President and CEO Robert Dennis said the acquisition broadens Genesco’s consumer based in Canada and scales its Canadian omnichannel operations.
The company stated that it will retain Little Burgundy’s head office and store-level employees following completion of the acquisition. Margaret Thouez, who currently leads the Little Burgundy division in Montreal, will continue in that role as senior vice president, general merchandise manager of Little Burgundy, reporting to James Estepa, president and chief executive officer of Genesco’s Journeys Group.
Estepa said, “After spending time in the Little Burgundy stores, we quickly recognized that Little Burgundy and Journeys share similar values, cultures and goals. We are both extremely passionate about serving customers who shop in full-service specialty stores and on-line for the very latest branded fashion footwear and accessories. Like Journeys, Little Burgundy employees embody their customers’ lifestyle and attitude and we are excited to welcome them to the Journeys Group.”