Nine West takes ownership of Canadian assets

New York - Nine West Holdings Inc. is taking ownership of its Canadian brand assets, including 45 store leases.



The company has acquired the business operations of Sherson Group Inc., which previously held the exclusive rights to the Nine West, Anne Klein and Easy Spirit brands in Canada.



Nine West intends to continue providing these brands to customers across Canada at Nine West mall-based locations and Shoe Studio outlet stores, as well as at department stores.



Under the terms of an asset purchase agreement, a newly formed subsidiary of Nine West Holdings expects to continue operating the retail locations and to offer continued employment to a majority of Sherson's employees.



"We are pleased to have completed this important transaction, which ensures that our loyal customers in Canada will continue to be able to shop for their favorite Nine West, Easy Spirit and Anne Klein footwear and accessories at malls, outlets and department stores across the country," said Ralph Schipani, interim president of Nine West Holdings.