Azaléia expand into eastern Europe1 January 2002
Calçados Azaléia, Brazil's leading manufacturer of women's shoes and among the world's top five, have acquired an 85% share of Moditalia Praha, a local distributor for the company located in the Czech Republic. The price of the deal was not disclosed. The new venture, Azaléia Europe, will serve as a base for Azaléia's expansion into eastern Europe. Besides promoting the company's Azaléia brand, the Czech operation will strive to consolidate the Olympikus brand in Europe.