Designer Brands invests in Le Tigre, part of plan to double portfolio sales by 2026

Designer Brands Inc.
DBI,
-0.23%
announced Tuesday that it has signed a licensing agreement and taken an investment in Le Tigre, part of its plan to grow its Owned Brands portfolio and double the portfolio’s sales by 2026. That portfolio currently includes Vince Camuto, JLO Jennifer Lopez, Hush Puppies and Jessica Simpson. Designer Brands also recently announced a partnership with Reebok. Le Tigre is an American brand founded in 1977 that has been owned since 2017 by joint investment partners Infinity Brands and Hilco Inc., operating together as Le Tigre 360 Global LLC. Designer Brands will exclusively design and produce Le Tigre shoes to be sold at DSW and The Shoe Company, select wholesalers and the Le Tigre e-commerce site. Designer Brands stock is down 9% for the year to date while the benchmark S&P 500 index
SPX,
-0.92%
has tumbled 19.1% for the period.