British sportswear retailer Castore has acquired long-standing brand Grenson Shoes in a bid to shore up its financial future.

Castore’s co-founder, Thomas Beahon, said that the 160-year-old Grenson has “attracted a myriad of customers”, while also collaborating with some of the world’s most iconic brands.

“With this latest addition to our portfolio, we become ever more convinced that heritage brands are where the greatest long-term opportunities exist,” he added. “Heritage simply cannot be recreated; it is built over decades with love, discipline, and passion. Characteristics that AI will never be able to replicate.”

Founded in Northampton, England, Grenson has developed global appeal for its leather shoes. Within its many styles, the brand is perhaps best known for its signature wingtip shoes.

“As we have grown Castore over the last 10 years, it’s become clear that many brands face similar challenges – balancing revenue growth with profitability, choosing between short and long-term objectives, building multi-channel distribution, and approaching international expansion,” said Beahon. “It is incredibly difficult to grow profitably without raising outside investment, which often results in the loss of what makes a brand special.”

Beahon claimed that Castore’s new strategy of investing in premium, historic brands has solved the cash flow problems faced by similar brands. At the same time, he said Castore’s strategy is hinged on long-term returns.

“We believe great brands become ever stronger over time when nurtured in the right way,” he said. “We are passionate about British brands and their ability to compete on the global stage and want to play our role in making this happen.”