Seller are Amorim Cork Ventures, incubator of the cork corporation Corticeira Amorim, and founder Pedro Abrantes, who handed over their shares to the Kyaia Group. Financial details of the transaction were not mentioned.
Asportuguesas was founded in 2015 and has established itself internationally with shoes on a cork base. According to the company, the brand is now represented in more than 60 markets. Kyaia has been involved in the label since 2017 and now wants to use the sole control to further drive the expansion.
“We are determined to speed up the brand’s global presence and to strengthen its position as a benchmark for environmentally friendly footwear,” said Kyaia President Fortunato Frederico. Founder Pedro Abrantes was satisfied with the exit: “It was a good business, but above all I am proud that a project that started in my mother’s garage is recognized and valued.”
Kyaia was founded in 1984 and is now one of the largest shoe companies in Portugal. In addition to Asportuguesas, the brand portfolio includes the Labels Fly London and Softinos as well as the shoe retail chain foreva and the online marketplace overcube.