Camper, a Spanish footwear company, made its first majority stake acquisition, acquiring a 60% stake in Ancient Greek Sandals, businessoffashion.com writes. The company’s co-founders, Nikolas Minoglou and Christina Martini, as well as co-owner Giannis 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 chief executive officer (CEO), creative director (Creative Director) and chief brand and marketing officer (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 for the time being it is not planning other acquisitions in the immediate future.
The family business, which is 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 part of it may be moved abroad, Minoglou said.
While Ancient Greek Sandals is known for its minimalist vacation footwear drawing inspiration from Greek cultural heritage, Camper’s aesthetic is characterized by bold and unconventional design, with playful and comfortable styles intended for everyday use.
Its collections also include the 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 significant attraction factor for Camper, according to the company’s chief executive officer, Miguel Fluxà Ortí.
“It makes sense to leverage the expertise that Camper has in the way it operates, in production planning and in all these areas, which today are becoming increasingly difficult to develop on a larger scale”, said Fluxà Ortí. “For us, the acquisition is an opportunity to work with people we value and on projects that interest us.”
For Ancient Greek Sandals, the acquisition is an opportunity for further growth and scaling of its activities.
“Essentially, we run the business like a combination of a family company and a startup, so after a certain point you need to start doing things differently in order to be able to grow beyond that stage”, Minoglou said.
He and his team plan to strengthen the direct-to-consumer sales channel, with the opening of two new stores in Athens within the next year. Over the next three years, the company also intends to open one more store in Greece, as well as its first store abroad, in a location that has not yet been determined.
At the same time, the sandal manufacturing company seeks to strengthen its presence in e-commerce through a redesign of its website and to expand into the Asian market, with particular emphasis on China, Japan and South Korea.
Camper forecasts that its revenues will amount to 275 million euros in fiscal year 2026, compared with 255 million euros the previous year. Ancient Greek Sandals, which was founded in 2012, recorded revenues of 10 million euros in fiscal year 2025.
“For us it is important to maintain the balance between the different distribution channels. Ancient Greek has an excellent wholesale network”, said Fluxà Ortí. “The most important thing, however, is that there is a proper balance between the channels, because they support each other.”