German footwear and streetwear retailer Snipes’ U.S. expansion plans continued this week with the acquisition of New England-based sneaker company Expressions.
According to published reports, the acquisition gives Snipes ownership of all 35 Expressions stores in Connecticut, Massachusetts and Rhode Island. The companies did not release terms of the agreement.
“Expressions is not only adjacent to our current footprint, but shares our commitment to serving sneaker and streetwear enthusiasts in their communities,” said Sven Voth, CEO and Founder of Snipes. “This acquisition underscores both the importance of the US market to Snipes and the growth potential we see there.”
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With the deal, Snipes – owned by Germany’s Deichmann SE, Europe’s largest shoemaker – adds another American sneaker chain to its stable, following the acquisition of Jimmy Jazz at the end of the year. last. The company now has 680 stores worldwide.
“Snipes has a proven track record of investing in the companies they buy to prepare them for accelerated growth, which has given me confidence that they are the right partner for this next step in the rich history of our company,” Expressions owner Todd Quarles said in a statement. .
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Snipes’ past acquisitions include KicksUSA in May 2019, followed by Mr. Alan’s two months later. The company said it also collaborated with DJ Khaled on an apparel collection and created back-to-back limited-edition Adidas Forum releases with the Detroit Pistons.
Last month, the Cologne-based company launched mobile apps to support its digital growth in the US market.
“Snipes invested in a native mobile app for a number of reasons, but primarily due to the fact that an overwhelming majority of Snipes’ digital consumers in the US market access snipesusa.com from their mobile devices,” said said Jenna Flateman Posner, Snipes’ chief digital officer. “For Snipes, that was a huge indicator that now more than ever, we need to be mobile first.”