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Press release from Business Wire

Brown Shoe Company Acquires Sam & Libby Brand

Monday, September 10, 2012

Brown Shoe Company Acquires Sam & Libby Brand09:49 EDT Monday, September 10, 2012 NEW YORK (Business Wire) -- Brown Shoe Company (NYSE:BWS) has acquired the Sam & Libby brand and reunited it with its founders, Sam and Libby Edelman, it was announced today. For the last eight years, the brand was owned by The Jones Group. “We feel very strongly that this brand belongs with Sam and Libby, the people who created it,” said Diane Sullivan, president and CEO of Brown Shoe Company. “We purchased Edelman Shoe two years ago and last month, we announced Libby's return to Brown Shoe Company. The timing is perfect to bring the Sam & Libby brand back into the fold. The potential for the entire portfolio is exciting and certainly presents additional interesting opportunities for us to explore.” “This represents closure for Libby and me, a full circle,” said Sam Edelman, founder of Edelman Shoe and division president for the Sam Edelman Division of Brown Shoe Company. “We now have the opportunity to see our vision realized as true lifestyle designers. It was very important to us to have Sam & Libby back in our stable of brands.” “This is an amazing opportunity for us to jump in and to use everything we have learned to reenergize the Sam & Libby brand. The possibilities are endless,” said Libby Edelman. “I guess it's pretty clear now why I came off of my sabbatical.” For more than 30 years, Sam and Libby have worked not only as life partners, but also as business partners, beginning with the very successful launch of the Esprit footwear business in 1983 and again in 1987 with the launch of the Sam & Libby brand. About Brown Shoe Company and Famous Footwear Brown Shoe Company is a $2.6 billion, global, footwear company that puts consumers and their needs first, by targeting the strategic Family, Healthy Living and Contemporary Fashion platforms. We have more than 130 years of experience, passion and product innovation and operate more than 1,300 Famous Footwear and Naturalizer retail stores across the United States, Canada and China. We also design, source and market many well-known wholesale shoe brands -- such as Naturalizer, Dr. Scholl's Shoes, LifeStride, Sam Edelman, Franco Sarto, Via Spiga, Vera Wang, Avia and Ryka -- across multiple distribution channels. In addition to our retail and wholesale operations, we maintain a strong online presence with our ecommerce sites, Famous.com, Naturalizer.com and Shoes.com. Visit brownshoe.com to learn more about us. Brown Shoe Company: feel good and live better... feet first! Brown Shoe CompanyKelly Malone, 314-854-4093