SNIPES continues its growth in the U.S., acquires footwear retailer Jimmy Jazz

PHILADELPHIA, Dec. 1, 2021 /PRNewswire/ -- Global sneaker and streetwear retailer SNIPES is significantly expanding its presence in the U.S., by acquiring American sneaker chain Jimmy Jazz. The agreement was signed today, with the purchase expected to be completed by the end of the year. The acquisition will approximately triple SNIPES' door count in the United States, as the retailer's store network will grow from just over 100 stores to almost 270, making it the largest acquisition in the history of SNIPES.

SNIPES is a global sneaker and streetwear retailer with more than 450 stores in Europe and the United States combined. The multichannel company differentiates itself through deep roots in hip hop culture and a community-centric alignment based on supporting, empowering, and celebrating street culture.

Headquartered in Secaucus, New Jersey, Jimmy Jazz operates nearly 170 stores in the U.S. across the East Coast, Southeast, and Midwest. The acquisition will allow SNIPES to enter new areas. SNIPES will be honoring and building on the strong Jimmy Jazz legacy.

"Despite the pandemic, SNIPES continues to grow. Our 'community first' concept will keep our focus on our core customer. We are very excited to deepen our commitment to the communities we serve by partnering with Jimmy Jazz, " said Sven Voth, CEO and founder of SNIPES.

"In SNIPES, we've gained a strong, global partner who shares our passion and who will appropriately continue our legacy as well as our investment in our teams and stores," stated Jimmy Khezrie, owner of Jimmy Jazz.

The expansion will grow SNIPES' total global store network from approximately 450 stores to more than 600 stores. The parties have agreed not to disclose the terms of the deal.

About SNIPES

Inspired by hip-hop, streetball, dance, and action sports, the opening of the first SNIPES store in 1998 laid the foundation for a movement that now connects young people around the world. In line with the outfitter principle, the SNIPES online store and over 450 SNIPES outlets in Europe and the US offer up-to-the-minute streetwear pieces and sneakers alongside the classic timeless looks of brands such as Nike, adidas, Carhartt, Jordan, New Balance, and Vans. Key differentiators are SNIPES' own collections and successful collaborations with other streetwear brands plus exclusive sneaker models. What's more, SNIPES has remained true to its deep roots in the global street culture community, working closely with key figures from the scene, and supporting talented athletes and creative artists.

About Jimmy Jazz

For over 30 years Jimmy Jazz has presented premium lifestyle brands such as Nike, Jordan, Adidas, Puma, and Polo in an engaging and authentic way to the consumer helping to build "sneaker culture" on critical streets and in important markets.  With nearly 170 stores across the U.S. landscape, Jimmy Jazz has an expansive footprint in both malls and strip centers.  Jimmy Jazz also operates a robust E-commerce business through JimmyJazz.com allowing them to connect with the consumer digitally on a broad scale.  Since its beginnings, the company and its' valued associates have become more than popular destinations for a large breadth of footwear, apparel and accessories in the neighborhoods they serve.  It has become the destination where streetwear and sport culture intersect.   Jimmy Jazz remains loyal to the consumer, its' nearly 4,000 diverse employees and all of their many vendor partners. 

For further questions, please contact:

Simon Bus at [email protected]

SOURCE SNIPES

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