Australian company Munro Footwear Group has bought beloved NZ children’s footwear company Bobux out of receivership.
Australian footwear giant, Munro Footwear Group officially took over management of Bobux on May 10 and has resumed its operations across its wholesale, distributor, and ecommerce channels which have been dormant since its collapse into receivership last month.
Munro Footwear Group posted the announcement on LinkedIn earlier this week reading, “Exciting news! We’re delighted to announce beloved children’s footwear brand, Bobux International, has joined the Munro Footwear Group family. The acquisition gives us an opportunity to provide our customers with a year-round offering in the baby, toddler, and kids footwear markets alongside our current Back to School program. Looking forward to the exciting developments to come!”
Bobux was placed into receivership in April, due to an ‘unrecoverable’ drop in demand following Covid and significant supply chain disruptions that resulted in overstocking to combat delays and challenges with an IT system overhaul and a failure to secure funding.
Bobux reportedly has a total annual sales of over NZ$20 million through its B2B, B2D and B2C channels, selling across 40 countries, and will be the first children’s brand to join the Munro Footwear Group family. Currently, Munro Footwear Group owns and sells a variety of styles of footwear brands, boasting Cinori, Colorado, Diana Ferrari, Midas, Mathers, Mollini, Mountfords, Style Tread, Williams, and Ziera all under its umbrella. It operates more than 290 stores in Australia and employs 2500 staff.
“We have a proven track record of building brands, like our most recent acquisition, Ziera, which has experienced improved performance under our business model,” Munro Footwear Group co-CEO Jay Munro said. “I’m very confident that we will be able to preserve the essence and heritage of the Bobux brand whilst enabling it to reach its full potential.”
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