DSW acquires Ebuys for $62.5 million

Footwear retailer DSW (NYSE:DSW) announced plans to acquire online shoe seller Ebuys, a move expected to bolster DSW's expansion efforts in the United States and internationally.

"The acquisition of Ebuys Inc. represents a unique opportunity to add a business to the DSW Inc. portfolio that will strategically scale our off-price sourcing capabilities, expand our presence into digital marketplaces, and create opportunities to serve international customers online," said DSW CEO Roger Rawlins.

Ebuys CEO David Duong will continue in his position and the online retailer will retain its offices in San Diego and Antioch, Tennessee.

DSW will make an upfront payment of $62.5 million as well as future payments contingent on Ebuys' performance. The transaction is expected to close within 30 days.

For more:
-See this DSW press release

Related stories:
DSW promotes CIO to CEO
Kmart hires former DSW CMO
Cole Haan opens innovation center
Deckers opens first brand showcase store, 'innovation lab' to boost omnichannel growth
U.S. retailers admit they aren't tweaking store operations to meet omnichannel needs