In a statement, American Exchange Group said it has acquired the brand with the mission of harmonising its modern, elevated core with broader commercial opportunities in distribution.

Steve Velasquez, Chief Strategy Officer of American Exchange Group, said: “Our strategy is to have the Aerosoles brand function as a separate division to ensure the focus on the core brand DNA that has made Aerosoles such a great name in the footwear category. We are pleased that the team from Aerosoles will be joining our organisation to execute our vision.”

Aerosoles was formed in the U.S. in 1987 to fill a void in the marketplace by creating attractive footwear enhanced with proprietary comfort technologies, mainly for women’s shoes and boots. The company was acquired by Palladin Consumer Retail Partners in 2014, Palladin is a private equity firm.