October 26, 2020 |
Shares in Arezzo&Co jumped on Friday after the Brazilian footwear company announced it had agreed to acquire fashion retailer Reserva in a cash-and-stock deal worth BRL715 million ($127 million).
Arezzo's shares rose 16% to end the week at BRL61.00 as the shoe company marked its first foray into the clothing market.
"[I]n addition to footwear and bags, Arezzo&Co will start selling men's, women's and children's fashion items, including clothing and accessories, with the possibility of exp
Brazilian footwear company marks its entry into the clothing retail market with a cash-and-stock deal worth $127 mln