Randa has acquired the assets and operations of R&S Sales, a men’s and women’s seasonal footwear firm. Terms were not disclosed.
The acquisition elevates Randa, which is already the leading men’s accessories company, to the market leader in seasonal footwear, as well.
Founded in 1980, R&S Sales, is currently managed and owned by Steven Podhaizer and produces men’s and women’s footwear for Chaps and Williamson-Dickie in addition to Rockport, Jessica Simpson and Hanes.
“The acquisition is consistent with our growth initiatives,” said Ed Turner, Randa’s president of wallets and seasonal accessories. “This deal provides us with new managers and category expertise, it expands our customer base, and this deal is accretive to our intellectual property portfolio.”
Randa launched its seasonal footwear business in 2012 with three brands in the United States. The business has tripled since that time and now includes seven brands in the U.S., Canada, Mexico and Australia.
“Through R&S, Randa will explore new channels of distribution while increasing our value to our current customers,” said Judy Person, Randa’s executive vice president and group president. “And, we will provide R&S with logistics and sourcing expertise, sophisticated marketing, in-store merchandise service, packaging and omnichannel support.”
Podhaizer will remain with the company, joining Randa as senior vice president, managing the combined seasonal footwear business.
“At R&S, we continually look for ways to maximize the interests of our long-standing licensing and retail partners,” Podhaizer said. “Joining with Randa’s first-class management team, strong ecosystem of support services and their passion for their partner’s success will be a win for all.”