Unified Commerce Group (UCG) has acquired sneaker brand Greats from Steve Madden, which it bought in 2019, and announced a strategic investment in Utah-based womenswear retailer Böhme.
The direct-to-consumer operator didn’t disclose the sale price for Greats, just that the Brooklyn-born sneaker brand would become the third brand in its portfolio alongside LA-based athleisure brand Spiritual Gangster and Canadian fashion brand Frank And Oak.
As part of the deal, Steven Madden, Ltd., through one of its subsidiaries, will become a shareholder of UCG.
Dustin Jones, chief executive and founder of Unified Commerce Group, said in a statement: “Greats pioneered the direct-to-consumer model in footwear and continues to delight its customers with high-quality, beautiful fashion sneakers.
"We have admired the brand for a long time, and the clear synergies with our existing apparel brands, along with its valuable customer base presents an excellent opportunity to leverage our operational expertise to drive further scale."
Edward Rosenfeld, chairman and chief executive of Steven Madden, Ltd., added: "We have known Dustin and his team for a number of years, and are very confident that Greats will find a strong strategic fit with the fast-growing portfolio of brands at UCG."
UCG also made a strategic investment in Utah-based womenswear retailer Böhme, founded by Vivien and Fernanda Böhme, which has 14 stores across Utah, Idaho, Montana and Arizona, as well as an online presence.
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