From top to bottom: footwear seller Genesco buys Hat World
Footwear and accessories retailer Genesco Inc. has acquired Hat World Corp., operator of 481 stores and four web sites that sell hats and caps. Hat World’s brands--Hat World, Lids, Hat Zone and Cap Factory--operate the web sites HatWorld.com, Lids.com, Lidscyo.com and CapFactory.com.
Genesco paid $177.4 million for the company.
Genesco operates 1,040 retail stores under the brands Journeys, Journeys Kidz, Johnston & Murphy and Underground Station, and two web sites Journeys.com and JohnstonMurphy.com. Genesco also sells wholesale under the Johnston & Murphy and licensed Dockers brand.
Hal N. Pennington, Genesco`s president and CEO, said he expects Genesco will grow Hat World by 400 to 500 stores.
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