November 03, 2015 - 8:30 AM
MONTREAL - The Little Burgundy chain of shoe stores for the 18-to-34 demographic is getting a new owner.
Little Burgundy — which counts fashion-conscious students and young professionals as its key customers — currently belongs to the Montreal-based Aldo Group, which operates in 95 countries.
The 37-store chain will give Genesco Inc. of Nashville, Tenn., access to a broader customer base in Canada.
Financial terms of the transaction weren't revealed Tuesday in the companies' joint announcement.
They say Little Burgundy will keep a separate identity within Genesco's Journeys division.
Journeys caters to "guys and girls" aged 13 to 22 with 800 stores in the United States, Puerto Rico and Canada.
News from © The Canadian Press, 2015