Arezzo&Co, a shoe manufacturing company, agreed to merge with Soma, a fashion and women clothing brand, in a $2.41bn deal. "The emergence of this new company entails great opportunities to generate additional value, such as the development of footwear and handbags categories in Grupo Soma brands, generating revenue leverage, optimizing the management of multi-brand channels, e-commerce and, mainly , franchising, optimization of Hering's industrial knitwear plant and the preparation of this new company to plug into other business verticals"