Camper, a Spanish footwear company, has completed its first majority stake acquisition, purchasing a 60% stake in Ancient Greek Sandals, according to businessoffashion.com. The company’s co-founders, Nikolas Minoglou and Christina Martini, as well as co-owner Yiannis Vagenas, will retain the remaining 40%.
Ancient Greek Sandals will continue to operate as an independent brand, with Minoglou, Martini, and Vagenas remaining in their respective roles as CEO, Creative Director, and Chief Brand and Marketing Officer.
Camper did not disclose the financial terms of the agreement, for which negotiations began in late 2025, while clarifying that it currently has no plans for further acquisitions in the immediate future.
The family-owned business, now in its fourth generation, will support Ancient Greek Sandals in the areas of commercial infrastructure, human resources, technology, and advanced product development. The majority of Ancient Greek Sandals’ production will remain in Greece, although a small portion may be moved abroad, Minoglou said.
While Ancient Greek Sandals is known for its minimalist vacation footwear inspired by Greek cultural heritage, Camper’s aesthetic is characterized by bold and unconventional design, featuring playful and comfortable styles intended for everyday use.
Its collections also include an ongoing collaboration with Issey Miyake, which began last July and is scheduled to continue for the next two years.
Ancient Greek Sandals’ distinctive design identity was also a major draw for Camper, according to the company’s CEO, Miguel Flousa Ortí.
“It makes sense to leverage Camper’s expertise in operations, production design, and all these areas, which are becoming increasingly difficult to scale up today,” said Flousa Orti. “For us, the acquisition is an opportunity to collaborate with people we respect and on projects that interest us.”
For Ancient Greek Sandals, the acquisition represents an opportunity for further growth and expansion of its operations.
“Essentially, we run the business as a combination of a family-owned company and a startup, so after a certain point, you need to start doing things differently in order to grow beyond that stage,” said Minoglou.
He and his team plan to strengthen the direct-to-consumer sales channel by opening two new stores in Athens over the next year. Over the next three years, the company also intends to open another store in Greece, as well as its first store abroad, at a location that has not yet been determined.
At the same time, the sandal manufacturer aims to strengthen its e-commerce presence by redesigning its website and to expand into the Asian market, with a particular focus on China, Japan, and South Korea.
Camper forecasts that its revenue will reach 275 million euros in fiscal year 2026, compared to 255 million euros the previous year. Ancient Greek Sandals, which was founded in 2012, reported revenue of 10 million euros in fiscal year 2025.
“It is important for us to maintain a balance among the different distribution channels. Ancient Greek has an excellent wholesale network,” said Flousa Orti. “Most importantly, however, there needs to be the right balance between the channels, because they support one another.”