MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
An experienced footwear team with links to both action sports and the retail giant Foot Locker has secured the license for the skate shoe brand Adio.
The AL&S Footwear Group in New York, which also makes Fubu, COOGI and Cadillac shoes, assumed the license as of Dec. 21, according to a memo sent to retailers Monday.
The worldwide license covers footwear, clothing and accessories.
Jim Stroesser, part of the team that bought Converse out of bankruptcy, rebuilt the brand, then sold it to Nike, will take over as president. Stroesser has also worked in footwear with brands such as LA Gear, Nike and Oakley.
Rick Mina, a principal at AL&S, is the former CEO of Foot Locker.
In the memo, it said AL&S is known for building brands and developing strategic partnerships within the retail community.
AL&S plans to maintain Adio’s current distribution and strengthen strategic partnerships with core retailers, the memo said.
Adio’s offices will move to a new location in San Diego in the future.
The Adio brand is owned by K2, which is owned by Jarden Corp.