Global sneaker and streetwear retailer Snipes is significantly expanding its presence in the United States by acquiring sneaker chain Jimmy Jazz. The acquisition will approximately triple Snipes’ door count Stateside, as the retailer’s store network will grow from just over 100 stores to almost 270, making it the largest acquisition in the company’s history.
“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,” states Sven Voth, CEO and founder of Snipes, headquartered in Cologne, Germany.
“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,” says Jimmy Khezrie, owner of Jimmy Jazz.
SNIPES is a global sneaker and streetwear retailer now 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, NJ, Jimmy Jazz operates nearly 170 stores across the East Coast, Southeast and Midwest.
The agreement (terms not disclosed) was signed today, with the purchase expected to be completed by the end of the year.