Designer Brands has bought Topo Athletic, a retailer specialising in footwear for running, walking, and hiking.
The acquisition will expand Designer Brands’ presence in the “hyper-important” athletic and athleisure space, the company said Monday, and follows its acquisition of LeTigre, which sits in the same category.
The cost of the deal was not disclosed.
Tony Post, the CEO of Topo who founded the company in 2012, will remain at the helm of the business and will report to Designer Brands president Bill Jordan.
“Topo represents another exciting growth opportunity for Designer Brands and further propels us to our goal of doubling sales of our owned brands by 2026,” Jordan said in a release.
“Following our most recent year-over-year quarterly sales increase of 25 percent in owned brands and 33 percent within our direct-to-consumer channels, we are confident Topo will continue to strengthen our owned brands portfolio and help extend our reach around the world,” he said.
Topo joins Designer Brands portfolio of owned brands, which already includes Vince Camuto, Jessica Simpson, Crown Vintage, Mix No. 6, Lucky Brand, and Kelly & Katie.