American Exchange Group Acquires Giant Propeller Marketing Agency to Support Growing Brand Roster

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by Anna Munhin Mar 22, 2023 News
American Exchange Group Acquires Giant Propeller Marketing Agency to Support Growing Brand Roster

The streak of acquisitions by American Exchange Group is still going strong.

The New York-based footwear and accessories company, which last year bought Aerosoles and recently purchased the White Mountain shoe brand, announced today that it has closed on another acquisition.

Mike Bodkin founded the agency in 2015 to offer a range of marketing services. L'Agence, Warner Bros. Studios, Sprayground and Timex are just a few of the brands it has created campaigns for.

Alen Mamrout, CEO of American Exchange Group, told fn that this further demonstrates their commitment to investing in marketing to continue to drive growth for their retail partners. This acquisition is perfect for us because it gives us full visibility and insight to certain data that we don't have. Everything will be controlled in-house from now on.

Mamrout said that the AXNY Group is going to make a significant investment in marketing.

He said that they want to reach a younger audience. There are a lot of consumers we are not currently marketing to.

Mamrout said that White Mountain will be a major focus this year. They chose not to invest in marketing because they have a lot of distribution. We want to give our retailers more digital assets. That will be our biggest growth area.

The AXNY Group is a designer, manufacturer and wholesale provider of fashion accessories for men, women and children. It used to work on licensed and private label collections.

Mamrout said the leadership team was able to deploy its many capabilities in a more coordinated way. A lot of the time, when we sign for a license, it is only available in footwear but not in handbags or watches. He said that owning the brands allowed them to leverage their relationships with the retailer.

Aerosoles has been launched into a number of new categories. The brand introduced flip-flops, men's socks, slipper and roller skates for spring '23, as well as a line of girls shoes. The women's sleepwear, robes and intimate apparel will be in stores for the holidays.

Mamrout said he's reviewing opportunities but being careful with his targets. Any acquisition that we make must fit within our strategy. He said he wanted to make sure it fit the distribution and gain more market share.