DTLR Inc, which is backed by Bruckmann, Rosser, Sherrill & Co and Sneaker Villa Inc, a portfolio company of Goode Partners, have merged. The newly combined company will focus on footwear and apparel retailing. No financial terms were disclosed.
NEW YORK, Aug. 18, 2017 /PRNewswire/ — On August 14, 2017, New York based private equity firms Bruckmann, Rosser, Sherrill & Co. and Goode Partners LLC completed a transaction that will merge DTLR, Inc. (“DTLR”) and Sneaker Villa, Inc. (“VILLA”) to form a leader in lifestyle footwear and apparel retailing.
The merged company has a significant geographic reach with nearly 240 stores covering 19 states and the District of Columbia, spanning the East Coast from New York to Florida, the Midwest, the Southeastern U.S. and Texas. The store footprints of DTLR and VILLA are complementary, with little overlap. This broad reach, along with a rapidly growing e-commerce platform, will give the combined entity the strength of a national retailer.
Both DTLR and VILLA have community-centric cultures, and together will continue to serve their local customers and neighborhoods with passion, superior product selection and community service. DTLR and VILLA both partner with the top footwear and apparel suppliers, who can look forward to the combined reach of two respected retail brands and enhanced operational efficiencies. Employees of the combined organization will benefit from the sharing of best practices and a stronger company focused on accelerating growth.
“This merger will allow us to better serve our customers, employees and vendor partners” said Glenn Gaynor, Chief Executive Officer of DTLR. “The combination will allow us to enhance the consumer experience by leveraging the best practices of both VILLA and DTLR. By combining our talent and resources we can accelerate growth and expand our reach. We look forward to bringing our teams together.”
DTLR is a growing, lifestyle retailer of street-inspired footwear, apparel and accessories. DTLR’s stores offer a distinctive, high energy shopping experience and are designed to look and feel like independent, locally-managed specialty stores. DTLR is uniquely positioned due to constantly evolving merchandise assortment, wide selection of desirable brands, energized sales associates, music-inspired retail atmosphere and strong connections with local communities. DTLR’s differentiated business model and community-centric culture reinforce its authentic brand image and positions it as a leading destination retailer. This is characterized by DTLR’s trademarked motto “Your Fashion…Your Lifestyle!” The DTLR brand is well recognized and generates loyalty and preference among its core consumers. DTLR currently operates over 110 stores in 12 states and the District of Columbia. DTLR also sells products through its website, DTLR.com.
VILLA is one of the country’s most successful emerging urban lifestyle retailers with more than 120 stores in 10 states. By fusing together its passion for fashion, music, sports, community empowerment and entertainment, VILLA strives to give its customers a high energy shopping experience. VILLA’s number one mission is to change and enhance the way business is done in urban neighborhoods. By providing its customers with the latest urban trends and newest sneaker releases, VILLA offers a style guide for the entire family. The VILLA team ensures its footwear, apparel, and accessories elevate the consumer’s style, in addition to providing superior customer service. VILLA also strives to improve the areas it serves. VILLA partners with schools, local governments, community groups, and individuals to provide community service, educational initiatives, anti-violence programs, and economic investment.