Nine West Holdings, Inc. announced it will acquire apparel manufacturer the Kasper Group. The acquisition will give the shoe brand a bigger stake in the apparel and clothing sectors. Nine West plans to use the proceeds from its 2016 sale of Easy Spirit to fund the deal.
“We are pleased to welcome the Kasper Group to Nine West Holdings. The Kasper Group is a well known leader in the women’s sportswear market,” Ralph Schipani, interim CEO of Nine West Holdings said in a statement. “The Kasper Group is a profitable wholesale business that we anticipate will make a positive impact on the Company’s financial performance. This acquisition of Kasper’s reputable branded apparel will enable Nine West Holdings to offer its customers an array of women’s affordable, wear-to-work tailored clothing, footwear and accessories.”
Nine West has been expanding its brand through its partnerships and acquisitions. In 2015, the brand teamed up with the Camuto Group for sourcing and production of its Nine West, Bandolino, and Anne Klein footwear. In addition to wholesale, the company operates more than 250 stores.
Kasper Group offers suits, suited separates and dresses under the Kasper, Le Suit, Evan Picone and Albert Nipon labels.