Footwear and accessories retailer DSW Inc. (NYSE: DSW) is buying Ebuys Inc. in an effort to expand into online and international markets. DSW will pay $62.5 million plus future payments dependent on the performance of Ebuys; the deal is expected to close within 30 days.
San Diego-based Ebuys sells off-price—lower than normal retail price--footwear and accessories online to customers in North America, Europe, Australia and Asia. DSW CEO Roger Rawlins says Ebuys will help his company expand its off-price sourcing, its presence in digital markets and its opportunities with customers internationally. Ebuys will continue to operate as a separate business under DSW, with David Duong staying on as CEO and offices maintained in San Diego and Antioch, Tennessee. Ebuys also operates e-commerce platforms under ShoeMetro and ApparelSave names.