NEW YORK — Aigner Group Inc. is ending its production of footwear, after 50 years of making shoes, and has entered into a licensing agreement with Bennett Footwear under which the Newton, Mass.-based company will produce Etienne Aigner and E/A by...
NEW YORK — Aigner Group Inc. is ending its production of footwear, after 50 years of making shoes, and has entered into a licensing agreement with Bennett Footwear under which the Newton, Mass.-based company will produce Etienne Aigner and E/A by Etienne Aigner footwear.
“Changes in footwear retail markets have led to channel concentrations that result in volume efficiencies for suppliers,” said Michael P. Cangemi, president and chief executive officer of the Aigner Group.
The main-floor accessories firm, which is owned by U.K.-based Hartstone Group plc, has annual sales of about $150 million, of which footwear is a major portion, said a spokeswoman.
Plans call for the Aigner Group footwear unit to become a division of Bennett. The footwear design, sales and production staff will join the division and will continue to be managed by its president, Jay Friedman. Beyond the license, the partnership includes a supply agreement for Bennett to make footwear for Aigner’s consumer catalog, Web site and 64 outlet stores, although Aigner will continue to ship the footwear and provide certain back-office operations for Bennett.
The spokeswoman said footwear is not expected to have any major changes in price or distribution under the new arrangement. Aigner also produces handbags and small leather goods in-house and there are no plans to stop making those categories.
In recent years, Aigner has worked to update its merchandise and expand its product offerings through licensing, which now includes legwear, watches, gloves and prescription eyewear. Aigneris scouting locations for a new accessories showroom in Manhattan.
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