Slovenian top retailer to acquire Austrian footwear giant

In one of the biggest cross-border corporate moves by a Slovenian company to date, footwear retailer Mass and its majority owner, private equity fund Advance Capital Partners, have agreed to acquire Leder & Schuh, the Austrian company behind the Humanic and Shoe4You brands.

The acquisition will bring together two established Central European retailers, creating one of the top ten footwear groups in Europe, CE Report quotes The Slovenia Times.

Leder & Schuh operates 210 stores in nine countries, employs more than 1,700 people, and generates about EUR 300 million in annual revenue. Once regulatory approvals are secured, the company will become part of the Mass Group, while continuing to operate independently from its headquarters in Graz, Austria.

After the merger, the new group will boast annual revenue exceeding EUR 400 million, a network of 290 physical stores and ten online shops, and a combined workforce of over 2,300 employees.

"The merger of two companies with a strong tradition and shared ambition will create a true European giant in footwear retail across Central and Eastern Europe," Aleš Škerlak, CEO of Advance Capital Partners, said as the news was announced on 27 October.

Škerlak said the deal, expected to close in the first half of 2026, will strengthen the group's position in key markets from Austria and Germany to Southeast Europe.

Leder & Schuh's existing bank loans will be refinanced to ensure long-term stability and fuel further growth.

By 2029, Advance Capital Partners expects the Mass Group to surpass EUR 500 million in annual revenue across nine markets with a combined population of around 150 million people.

Sašo Apostolovski, founder and CEO of Mass, said the partnership was a natural fit: "Mass and Leder & Schuh complement each other perfectly - both in business and geography."

Apostolovski added that the group will continue to develop the Humanic, Shoe4You, Mass, and Skechers brands, with a goal to become the leading multi-channel retailer of footwear and fashion accessories in Central and Eastern Europe.

Leder & Schuh is among Europe's oldest footwear retailers, tracing its roots back more than 150 years. It is currently active in Austria, Germany, Slovenia, Croatia, Hungary, Czechia, Slovakia, Romania, and Bulgaria.

The move comes just months after Advance Capital Partners, a leading Slovenian private equity fund, acquired a 60% stake in Mass.

Mass was incorporated in 1990 and quickly grew to become one of the biggest players on the Slovenian footwear retail market. It entered the Croatian market in the 2010s and Austria in 2024.

Photo: Advance Capital Partners