AMERICAN EXCHANGE GROUP ACQUIRES WOMEN'S FOOTWEAR BRAND, WHITE MOUNTAIN FOOTWEAR

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Jan 17, 2023, 10:00 ET

NEW YORK, Jan. 17, 2023 /PRNewswire/ -- American Exchange Group, a multi-division industry leader in accessories design, manufacturing and wholesale, today announced its acquisition of the White Mountain Footwear company. The announcement of the acquisition aligns with the American Exchange Group's strategy for significant growth and mission to consistently deliver trend, quality and accessible designs to a wide range of consumers.

The company acquired luxury comfort footwear brand Aerosoles in January 2022 and now a year later, with the recent purchase of White Mountain Footwear Company, American Exchange Group plans to integrate and leverage the solid structure, sourcing and manufacturing capabilities, management and execution that has made White Mountain so successful over the last forty years with the Aerosoles brand. Together, the two companies will expand distribution channels and introduce White Mountain Footwear and its sister footwear brand, Cliffs to a diverse range of categories and audiences.

"I have been truly impressed with White Mountain's experienced executive leadership team and their long, dedicated, tenured staff that has supported the brand's growth over many years. I look forward to seeing them bring that success, commitment and enthusiasm to Aerosoles" said Alen Mamrout, CEO of American Exchange Group.

"We are excited to be part of American Exchange Group! White Mountain has a long tradition of providing our customers top quality and fashion footwear at great values. This acquisition will unlock a lot of value and we are looking forward to carrying on the forty-year tradition of the White Mountain brand under new ownership. Teaming up with American Exchange Group will allow us to grow and expand our business, add additional product categories and leverage synergies" said Robert Geller, White Mountain's Chief Revenue Officer.

"This is an exciting time for our company as we see tremendous growth opportunities for White Mountain to expand beyond ladies' footwear into additional product categories as well as opportunities in manufacturing, wholesale and licensing" said Steve Velasquez, Chief Strategy Officer for American Exchange Group.

White Mountain is currently sold at key retailers including Macy's, DSW, Kohl's, Boscov's, Amazon, Famous Footwear, and Shoe Carnival.

About American Exchange Group:
American Exchange Group is an industry leader in the design and manufacturing of accessories and footwear. By facilitating distribution to major retailers globally for private label brands, exclusive licensed brands, and accessories including footwear, tech wearables, watches, jewelry, handbags and fashion accessories, American Exchange Group raises the bar by disrupting status quo pricing while staying at the forefront of trends.

About White Mountain

White Mountain Footwear Group is footwear company dedicated to offering classic styles with a focus on comfort at an accessible price point for the past 40 years. https://www.whitemountainshoes.com.

SOURCE American Exchange Group