One Year After Buying Aerosoles, American Exchange Group Has Acquired White Mountain Footwear
American Exchange Group is once again starting off the new year with a major deal.
A year after the New York-based company acquired the Aerosoles brand, American Exchange Group said today it has completed the purchase of White Mountain Footwear for an undisclosed amount.
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The privately owned White Mountain company has been based in Lisbon, N.H., since its founding in 1979. Its fashion-comfort collections — which include two made-in-China labels, White Mountain and Cliffs — are carried at top national retail chains such as Macy’s, DSW, Kohl’s, Boscov’s, Amazon, Famous Footwear and Shoe Carnival.
With this acquisition, American Exchange Group said it plans to integrate White Mountain’s sourcing and manufacturing capabilities, structure and management with the Aerosoles brand, in order to expand the retail distribution for both brands, and also introduce the White Mountain and Cliffs lines to new categories and audiences.
“I have been truly impressed with White Mountain’s experienced executive leadership team and their long, dedicated, tenured staff that has supported the brand’s growth over many years. I look forward to seeing them bring that success, commitment and enthusiasm to Aerosoles,” said Alen Mamrout, CEO of American Exchange Group, in a statement.
A company representative confirmed that White Mountain’s leadership team will remain on board and it will keep its offices in New Hampshire.
White Mountain chief revenue officer Robert Geller said in a statement, “We are looking forward to carrying on the 40-year tradition of the White Mountain brand under new ownership. Teaming up with American Exchange Group will allow us to grow and expand our business, add additional product categories and leverage synergies.”
American Exchange Group is indeed a fitting partner for category expansion. The company is a designer, manufacturer and wholesale provider of fashion accessories for men, women and kids, producing everything from footwear, belts, socks and hats to smart watches and fitness trackers.
It has already unleashed an aggressive expansion plan for Aerosoles. Earlier this month, the brand made a foray in the kids’ market with a line of girls shoes, and for spring ’23, the label will introduce men’s and women’s flip-flops, men’s socks, slippers and roller skates.
In a recent interview with FN, American Exchange Group’s VP of licensing and brand development, Cynthia Nixon, said even more launches are in the works for Aerosoles. “I’m in conversation with multiple other companies with expertise in a vast array of product categories, from home to travel to sleepwear and, of course, apparel,” she said.
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