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The U.S. retailer of branded footwear and accessories announced on January 2 that is has completed the acquisition of Togast, specialised in the design, sourcing and sale of licensed footwear.
Genesco announced on January 2 that it has closed the acquisition of the U.S. assets of New York-based Togast, previously announced on December 18, 2019. The Togast purchase expands Genesco's portfolio to include footwear licenses for G.H. Bass & Co., Adio and Fubu, among others. The acquisition is expected to be accretive to Genesco's fiscal 2021 earnings.
Genesco said it has also entered into a new U.S. footwear license agreement for men, women and children for the Levi's brand, as well as renewed and extended its men's Dockers footwear license.