Lotto Sport Italia has bought US shoe manufacturer Etonic, strengthening the Italian company’s market position in the States.
Etonic’s products, which include running, golf, bowling and walking footwear, are all in the mid to high price range and are distributed country-wide in America. This year the company experienced 45 per cent growth year on year and is set to reach sales of just under $30 million.
“The range of Etonic products is wholly complementary to that of Lotto’s without any overlap, says Andrea Tomat, President of Lotto Sport Italia SpA. “I’m certain we will generate important synergies between the innovative solutions introduced by Lotto in its chosen markets and those developed by Etonic, which has always enjoyed the reputation of being an R&D leader.
“I am particularly satisfied with this acquisition. We can count on a top-class management team, which succeeded in relaunching the brand in a short time span and which I am certain will take Etonic to the highest level.”