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DSW buys stake in Canadian shoe retailer
New York -- DSW has closed on its acquisition of Town Shoes Limited, the largest footwear and accessories retailer in Canada, for $68.7 million in cash. DSW acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation (AIMCo) and other minority shareholders.
DSW's initial stake provides 50% voting control and board representation equal to the primary remaining shareholder, Callisto Capital. Peter J. Solomon Company served as financial advisor to DSW Inc.
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Vera Bradley taps former OfficeMax exec to head e-commerce, omnichannel efforts
New York -- Accessories retailer Vera Bradley has named former OfficeMax executive Thomas R. Giacalone as VP e-commerce.
"Growing our e-commerce business is a critical piece of our five-year strategic plan, and we are very fortunate to have someone of Tom Giacalone's background and caliber join Vera Bradley to lead this important function," said CEO Robert Wallstrom.