KNS International Acquires Birdies as Footwear M&A Deals Continue to Heat Up
Stephen Garner
Senior Editor
With footwear deals heating up, KNS International has acquired women’s footwear brand Birdies.
Financial terms of the deal were not disclosed. KNS noted that Birdies cofounder Bianca Gates will be joining the company as brand president. With this deal, Birdies joins KNS International’s roster of footwear brands, which includes Journee, Taft and Vance.
Gates said in a statement on Tuesday that this acquisition “marks an exciting new chapter” for the brand. She noted that the deal will help Birdies, known for its flats and slides, to scale its mission to deliver both comfort and style.
“With KNS’ extensive expertise and resources, Birdies will quickly have the opportunity to expand our reach while staying true to the products and community that define Birdies,” Gates said.
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Greg Tunney, chief executive officer of KNS, added that he has “long admired” the Birdies brand and the creative vision that founders Marisa Sharkey and Gates brought to life.
“Their direct-to-consumer approach has resonated with women across the globe, enabling the brand to punch above its weight in the footwear category,” Tunney said. “Birdies will be a flagship brand within the KNS portfolio, bringing a combination of fashion and comfort for its expanding base of consumers. We are excited to welcome Birdies into the organization at KNS, and I look forward to collaborating with the Birdies team to ensure a smooth transition and continued growth.”
In July 2021, 10-year-old Birdies opened its second brick-and-mortar store in the Venice neighborhood of Los Angeles, four years after it opened its first shop in San Francisco. And in 2022, the San Francisco-based female-founded footwear brand announced it had achieved B Corporation certification.
This deal comes amid an active period for the acquisition market.
In February, Caleres inked a deal to acquire Stuart Weitzman from Tapestry for $105 million. The move was aimed at strengthening Caleres’ position in women’s fashion footwear, particularly in the contemporary segment of the market, while enabling Tapestry to focus on its Coach and Kate Spade brands.
Last month also saw Steve Madden snap up Kurt Geiger for 289 million pounds in cash, or $360 million at current exchange. Kurt Geiger’s private equity parent Cinven was first said to be considering a sale of the company back in 2023.
Plus, Giuseppe Zanotti bought back the minority stake in his namesake brand from investment fund L Catterton in February.
