SKYE ASSOCIATES TAKES STAKE IN BUTTER SHOES: Skye Associates has made a substantial investment in footwear brand Butter Shoes for an undisclosed amount. The latest represents the nineth time in which Skye has taken either a significant stake or completed an outright acquisition since the company was founded in 2007.
Butter Shoes, a wholesaler on the Skye platform, also wholesales the footwear brand to over 200 better specialty stores in the U.S. and internationally. Lee Reich, a partner in Butter Shoes, retains an interest in the company and heads up sales and manufacturing for the footwear brand.
Adam Hanin, president of Skye, said, “We look forward to working with Lee in assisting her vision to become an even more important partner to her retailers, while growing her direct to consumer business via online and catalog.”
Skye’s business model features two components. One is a management business the operates the e-commerce sites of individual brands. The other is an acquisitions component where the company acquires multibranded sites that it also operates.
Past deals include PinkMascara.com, FantasyJewelryBox.com and Yoga-Clothing.com and SimplySoles.com.