Shoe retail chain DSW buys online global expansion
February 17, 2016 03:19 PM
Shoe retail chain DSW Inc. has acquired online-only shoe seller Ebuys Inc., which operates ShoeMetro.com, for $62.5 million. DSW plans to use the acquisition to expand internationally via e-commerce.
"The acquisition of Ebuys Inc. represents a unique opportunity to add a business to the DSW Inc. portfolio that will strategically scale our off-price sourcing capabilities, expand our presence into digital marketplaces, and create opportunities to serve international customers online," said Roger Rawlins, CEO of DSW Inc.
Ebuys sells off-price footwear and accessories online in North America, Europe, Australia and Asia. “The transaction supports DSW's efforts to grow its market share within footwear and accessories domestically and internationally,” the company says.
The company says Ebuys will continue to operate as a distinct business within DSW, No. 133 in the Internet Retailer 2015 Top 500 Guide, and maintain its offices in Antioch, Tenn., and San Diego. David Duong will continue as CEO of Ebuys.
In addition to the $62.5 million purchase price, the deal offers performance incentives.