Aerosoles could be the next big footwear brand up for sale, according to a Reuters report.
After Michael Kors announced its plans to purchase luxury footwear brand Jimmy Choo last week, the potential sale of Aerosoles adds to the growing list of brands suffering from a difficult retail period.
Aerosoles, bought by Palladin Consumer Retail Partners in 2014, is reportedly exploring options to restructure debt or sell the company, according to the Reuters report.
The comfort-driven footwear brand launched a revamped campaign and design direction to target Millennial consumers earlier this year. However, the company struggles to accommodate its changing consumer and their tastes, hiring investment bank Piper Jaffray Companies and financial advisory consultant Berkeley Research Group to help carry out a strategic review, according to Reuters.
The report comes during a difficult time for retailers in the U.S., showing that Aerosoles has fallen victim to the difficult market, struggling to keep up with competitors. Aerosoles has about 80 stores in the U.S. and more than 300 world-wide, positioning itself as a leader among women’s performance brands.