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DSW's Affiliated Business Group and LOEHMANN'S Announce New Shoe Agreement

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The Affiliated Business Group (ABG), a division of DSW Inc. (NYSE: DSW), and LOEHMANN'S announced a joint agreement this morning for ABG to operate as the sole supplier for LOEHMANN'S footwear departments in its U.S. locations and e-commerce site loehmanns.com.

(Logo: http://photos.prnewswire.com/prnh/20100325/DSWLOGO-a)

The initial roll out is expected to commence in a few stores starting December, 2013 with the balance of the chain and e-commerce launching in the first quarter of 2014. ABG will plan, procure, and deliver the entire women's and men's footwear inventory, while LOEHMANN'S will provide staffing for the shoe departments.

LOEHMANN's Chief Executive Officer Steven Newman commented, "We are thrilled with our partnership with ABG. Through their association with DSW Inc., ABG's expertise in creating a compelling assortment in footwear at everyday value will elevate our product offering to our savvy fashion conscious customers who already find great designers at amazing prices at our LOEHMANN'S stores as well as our web site."

DSW Inc. President and CEO Mike MacDonald commented, "We look forward to partnering with LOEHMANN'S. Our broad supplier base, product knowledge and retail capability will support LOEHMANN'S brand positioning objectives. We are confident our partnership will bring our expertise and passion for footwear to LOEHMANN'S customers."

Affiliated Business Group's SVP and General Manager Christopher Lanning added, "We are very pleased to partner with Steven and the LOEHMANN'S team. We are committed to customizing a fashion footwear assortment and shopping experience that will meet the footwear needs and desires of LOEHMANN'S customers.

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