AP News

Brown Shoe buys Sam & Libby brand

NEW YORK (AP) — Brown Shoe Co. announced Monday that it has acquired the Sam & Libby shoe brand from The Jones Group for an undisclosed price.

The deal reunites the brand with its founders, Sam and Libby Edelman. Brown bought Edelman Shoe two years ago. Sam Edelman is president of the Sam Edelman division of Brown Shoe, and Libby joined the company last month after a sabbatical.

"We feel very strongly that this brand belongs with Sam and Libby, the people who created it," Diane Sullivan, president and CEO of Brown Shoe, said in a statement. "The timing is perfect to bring the Sam & Libby brand back into the fold. The potential for the entire portfolio is exciting and certainly presents additional interesting opportunities for us to explore."

The couple launched the Sam & Libby brand in 1987.

Brown Shoe, based in New York, operates more than 1,300 Famous Footwear and Naturalizer retail stores and also designs a number of shoe brands, including Naturalizer, Dr. Scholl's Shoes and Franco Sarto.

Steve Ballmer, Power Forward
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