Arezzo pays millions per operation of Vans in the country

The Arezzo & Co Group, which controls the brand and also Schutz, Anacapri, Alexandre Birman, Fiever and Alme, announces that it will take over the operation of Vans in Brazil, in agreement closed with the controller of the brand worldwide VF Corporation. The agreement provides that the Brazilian group will assume the exclusive distribution of footwear, clothing and accessories of the brand and will buy assets such as stores, stocks and distribution centers. The transaction will be R $50 million in agreement lasting five years, with the possibility of extending two years. The change of control of Vans Brazil to Arezzo enters into force on the first day of 2020. Vans expands Arezzo & Co customer Base Arezzo may, with the acquisition, open new stores and operate it on its own behalf or grant to third parties the rights of commercial exploitation of the brand. The group may also establish new suppliers and sign new contracts for the sale of products online or even open e-commerce itself. "Vans expands our customer base, converging with a new consumer profile and acting in new categories-apparel, children and men," says Alexandre Birman, CEO of Arezzo & Co. The closing of the operation is subject to the approval of the Council Economic defense Administrative (Cade).