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SJC Socks, Apparel Brand Bought

St. Louis-based Shoes.com said it acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.

Richer Poorerโ€™s products are sold at more than 800 retailers internationally, including at Bloomingdaleโ€™s and Nordstrom.

โ€œWeโ€™ve been acutely focused on building a strong brand identity, authentic voice and quality product since we launched five years ago,โ€ company co-founder and Chief Executive Iva Pawling said in a news release. โ€œThe next growth phase for Richer Poorer requires significant resources, e-commerce expertise and ability to scale, all of which the Shoes.com team brings to the table.

The sale of the company โ€œwill allow us to strategically accelerate our growth,โ€ Pawling said.

Shoes.com, owned by Hardy Capital Corp. in Vancouver, Canada, offers about 500 brands, including Converse, Frye, Michael Kors, New Balance, Sam Edelman and Vans, and serves more than 8 million customers across the U.S. and Canada.

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