New York—Camuto Group announced today that it has acquired the remaining shares of Bernard Chaus Inc., making the company a wholly-owned subsidiary of Camuto Group. Details of the purchase were undisclosed.
Ariel Chaus will remain in his role as chief cxecutive of BCI and will work closely with Camuto Group’s Chairman/Chief Executive Officer Alexander Del Cielo, to develop an even stronger platform for brands to grow through footwear, apparel and handbags.
The union of the two organizations facilitates a platform for the development of new brand opportunities while also enriching current businesses for both companies.
According to Del Cielo, “Camuto Group and Chaus have always shared the same strategic vision. Together, we have established a 360 degree multi-category brand foundation and are positioned to achieve enhanced success through brand extensions as well as prospective opportunities. Ariel and Josephine Chaus have been committed partners since we first began our association in 2010. Ariel has transformed the Chaus organization over the last few years and is committed to continuing to build the existing brand portfolio while also cultivating new businesses that drive top-line growth and profitability.”
“We are market leaders in apparel, footwear, licensing and marketing and the platform we have created does not exist in this segment of our industry. I am excited to partner with Camuto Group and build upon our successes in sportswear with Vince Camuto and the new brands we have recently launched. This opportunity represents not only the next step for Bernard Chaus Inc., but one for me personally. I have great respect for Alex and my relationship with him mirrors the close connection I had with Vince Camuto. We share the same commitment to brand integrity and we are aligned in our approach to the business. I am looking forward to beginning this new chapter while building upon the strong foundation that exists today.”
The enhanced partnership is effective immediately and growth plans are already in development for the expansion of existing brands into new categories and the launch of several new businesses.