The company, which launched online in 2011 and has received funding from Nordstrom, will continue its focus on affordable shoes and accessories under the Camuto Group and begin to expand for global wholesale opportunities. Nordstrom will remain on board as a minority owner.
Sole Society CEO Andy Solomon stated, “We are thrilled by the transaction and look forward to building brands with the Camuto Group team. We look forward to incorporating the knowledge and brand building prowess of Camuto Group to create a global brand and a powerful, multi-branded e-commerce business.”
This is the first online-focused acquisition by the Camuto Group, underscoring the company’s plan to grow its digital presence. Through the acquisition, the company hopes to increase its digital footprint, as Nordstrom will continue to carry Sole Society products in store and on nordstrom.com.
In a press release, Camuto Group CEO Alex Del Cielo, said, “We are looking forward to working closely with Nordstrom to develop the business as part of our joint strategic efforts.”