Online retailer The Hut Group is in “advanced talks” over acquiring branded footwear etailer Cloggs to boost its presence in the online footwear market, it is understood.
It is understood the deal, to fully acquire Cloggs, is close to completion but no timescale has been given.
Sources close to the situation said The Hut Group is interested in Cloggs as it would significantly increase its share of the online branded footwear market. The Hut Group already operates branded footwear etailer All Sole.
“All Sole isn’t very big and Cloggs sells many more brands so a deal would make The Hut Group a really serious player in the online branded footwear space,” one source told Retail Week’s sister magazine Drapers.
Yesterday, The Hut Group revealed it had acquired cycling accessories etailer Probikekit.com.
Cloggs co-founder and commercial director Chris Thomas took over from former managing director Damian Scarlett after Scarlett left at the end of last year to set up his own ecommerce consultancy.
Both Cloggs and The Hut Group were unavailable for comment.