Candice Cooper, the company known for all-leather luxury sneakers, has a new owner. As of June 1, the company has been registered as Candice Cooper AG, a limited corporation that holds all rights to the brand and patents. The restructure was made to attract new capital for expansion, particularly into Asian markets.

As part of the change, Ivan Merlini will serve as managing director to support Christoph Siegel, who founded the company in 2007. Merlini, who previously worked for Cinque and Diesel, joined the firm a year ago. The headquarters will also move from Freienbach in Switzerland to Zug. Further information on the changes of ownership and management could not be obtained by the time of going to press.

Candice Cooper produces 1.4 million pairs of sneakers per year in the Marche region of Italy and they retail for up to €300 each. According to company data, it has 1600 customers worldwide and a turnover of €20 million.