Australian shoe business Munro Footwear Group has completed its tenth acquisition in ten years, buying up specialty kids’ retailer The Trybe.
The Trybe was launched by Accent Group five years ago, growing to offer a large assortment of kids’ shoes from global brands such as Nike and Asics, as well as popular trend and utility brands.
Accent Group is an Australian footwear conglomerate, managing businesses such as The Athlete’s Foot, Glue Store, Skechers and Hoka - either licensed or owned.
According to Accent Group, The Trybe was sold for the carrying value, with no material financial impact arising from the sale and transition.
“Having founded the brand in 2019 initially online and then opening stores, we are pleased that the business has found a new home at Munro Footwear Group for its next phase of development,” Accent Group GM of the Trend Division Liam Robson said.
The Trybe currently has a 16-store footprint across Australia, and has reportedly delivered a strong performance despite current macroeconomic pressures.
Munro Footwear Group is no stranger to the children’s market, running an annual back-to-school program through its Williams and Mathers stores for over 30 years.
In 2023, the business acquired the global infant and toddler footwear brand Bobux.
MFG co-CEO Marcus Bartlett said the new acquisition will complement the business’ current offer.
“We’ve been looking for a year-round vehicle to complement our back-to-school program, and we believe The Trybe provides that – along with access to the best-branded sneakers in the world,” Bartlett said.
The sale was completed on August 16, with all retail employees and several support office team members offered employment by MFG. The company will work closely with the Accent Group team to ensure the smooth transition of the brand, with the full handover expected to be completed by the end of October 2024.
“It’s important that we spend the time to understand the business so we can honour and preserve the brand as we look to scale it,” Bartlet said. “But we’re confident that under our business model, together with The Trybe’s existing brand positioning and recognition, we can take this well beyond the current 16-store footprint.”