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NEW YORK - Sigerson Morrison, the footwear firm that grew from making custom-made shoes for private clients to a $30 million business with two lines and a high-end handbag collection, has a new owner.
The 15-year-old company said Friday that as part of an effort to further expand the label, it has sold a majority stake to Marc Fisher LLC, a Greenwich, Conn.-based footwear firm headed by Marc Fisher. Fisher was president of product development and sourcing for Nine West Group from 1999 to June 2003. He is the son of Nine West co-founder Jerome Fisher. The younger Fisher founded his own firm in January 2005.
Following the Sigerson Morrison acquisition, top priorities include building the label's assortment by possibly adding eyewear and fragrance, among other categories; boosting its retail stores, including opening a new flagship here; strengthening wholesale accounts, and adding more staff, with ambitions to hire Sigerson Morrison's first chief executive officer in the next six months.
"It's a huge move for us," said Kari Sigerson, who founded the firm with Miranda Morrison in 1991. The two will remain co-creative directors at the label. Terms of the deal were not disclosed.
"We've always been our own little...