Aldo sells off Little Burgundy chain of shoe stores

MONTREAL -- The Little Burgundy chain of shoe stores for the 18-to-34 demographic is getting a new owner.

Little Burgundy -- which counts fashion-conscious students and young professionals as its key customers -- currently belongs to the Montreal-based Aldo Group, which operates in 95 countries.

The 37-store chain will give Genesco Inc. of Nashville, Tenn., access to a broader customer base in Canada.

Financial terms of the transaction weren't revealed Tuesday in the companies' joint announcement.

They say Little Burgundy will keep a separate identity within Genesco's Journeys division.

Journeys caters to "guys and girls" aged 13 to 22 with 800 stores in the United States, Puerto Rico and Canada.