Announces licensing partnerships for Merrell
and Saucony kids footwear and Merrell apparel and
accessories
Wolverine World Wide, Inc. (NYSE: WWW) today announced that it
has entered into two global licensing agreements as part of its
ongoing strategic transformation into a brand-led growth
company.
Under the first agreement, Vida Shoes International will become
the global Merrell and Saucony licensee for kids footwear with
rights to these products in almost all markets subject to existing
licenses. Vida is one of the Company’s key partners, having
licensed the Stride Rite brand from Wolverine Worldwide since 2017,
and currently sources more than 20 million pair of kids footwear
annually in several categories.
The Company also agreed to license the global rights for Merrell
apparel and accessories – including packs, bags, and hats – to
Centric Brands LLC in almost all markets subject to existing
licenses. Centric has deep licensing experience and currently
serves as the apparel and accessories partner for more than 100
global consumer brands.
The new partnerships will be managed by Bornie Del Priore,
Wolverine Worldwide’s President of Global Licensing. Ms. Del Priore
has decades of licensing experience, including with the Company’s
Hush Puppies and Stride Rite brands and in her prior leadership
roles at Tommy Hilfiger and Ralph Lauren.
“Merrell and Saucony kids’ footwear are beloved by active
families around the world and have helped to create life-long
Merrell and Saucony customers,” said Chris Hufnagel, President and
Chief Executive Officer of Wolverine Worldwide. “By leveraging
Vida’s deep experience with children’s products and our Stride Rite
brand, we are confident we will build on these brands’ success. We
are also excited about the potential to establish Merrell as a
head-to-toe global lifestyle brand in partnership with Centric,
which has a proven record of accelerating the growth of its
licensed brands.”
Mr. Hufnagel continued, “Global licensing partnerships like
these drive significant value for the Company, reducing risk and
cost while enabling us to realize the full value of our brands. We
will continue to take actions to transform Wolverine Worldwide as
we deliver on our vision to become builders of great global
brands.”
ABOUT WOLVERINE WORLDWIDE
Founded in 1883, Wolverine World Wide, Inc. (NYSE:WWW) is one of
the world’s leading designers, marketers, and licensors of branded
casual footwear and apparel, performance outdoor and athletic
footwear and apparel, kids’ footwear, industrial work boots and
apparel, and uniform footwear. The Company’s portfolio includes
Merrell®, Saucony®, Sweaty Betty®, Hush Puppies®, Wolverine®,
Chaco®, Bates®, HYTEST®, and Stride Rite®. Wolverine Worldwide is
also the global footwear licensee of the popular brands Cat® and
Harley-Davidson®. Based in Rockford, Michigan, for more than 130
years, the Company's products are carried by leading retailers in
the U.S. and globally in approximately 170 countries and
territories. For additional information, please visit our website,
www.wolverineworldwide.com.
ABOUT VIDA SHOES INTERNATIONAL
Since 1973, Vida Shoes International has been committed to
becoming a global leader in the footwear industry. With more than
20 exciting brands across adult and children's markets, Vida Shoes
is dedicated to designing, producing and marketing quality branded
footwear using its expansive international resources. Its wealth of
knowledge stems from the diversity of brands and successful
products that have been produced year after year.
ABOUT CENTRIC BRANDS LLC
Centric Brands LLC is a global leading lifestyle brand
collective that has unparalleled expertise in product design,
development and sourcing, retail and digital commerce, marketing,
and brand building. Centric designs, sources, markets, and sells
high-quality products in the kids, men’s and women’s apparel,
accessories, beauty, and entertainment categories. The Company’s
portfolio includes licenses for more than 100 iconic brands,
including Calvin Klein®, Tommy Hilfiger®, Nautica®, Spyder®, and
Under Armour® in the kid’s category; Joe’s Jeans®, Buffalo®, Hervé
Léger®, and IZOD® in the men’s and women’s apparel category;
Coach®, Kate Spade®, Michael Kors®, All Saints®, Frye®,
Timberland®, Hunter®, and Jessica Simpson® in the accessories
category; and in the entertainment category, Disney®, Marvel®,
Nickelodeon®, and Warner Brothers® among many others. The Company
also owns and operates Zac Posen®, Hudson®, Robert Graham®,
Avirex®, Fiorelli®, and Taste Beauty® and operates a joint venture
brand, Favorite Daughter, with Sara and Erin Foster. The Company’s
products are sold through leading mass-market retailers, specialty
and department stores, and online. The Company is headquartered in
New York City, with U.S. offices in Los Angeles and Greensboro, and
international offices in Asia, Europe, Montreal, and Toronto.
Centric Brands social impact efforts are centered around our
commitment to serve and uplift the communities where we live and do
business. Through our collective volunteerism and contributions, we
are dedicated to making a caring and lasting impact on the world
around us.
For more information about Centric Brands, please visit
www.centricbrands.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements,
including statements regarding the Company’s ongoing strategic
transformation, the potential to establish Merrell as a head-to-toe
global lifestyle brand, and the benefits of the Company’s licensing
arrangements, including to drive value, reduce risk, and enable the
Company to realize the full value of its brands. In addition, words
such as “estimates,” “anticipates,” “believes,” “forecasts,”
“step,” “plans,” “predicts,” “focused,” “projects,” “outlook,” “is
likely,” “expects,” “intends,” “should,” “will,” “confident,”
variations of such words, and similar expressions are intended to
identify forward-looking statements. These statements are not
guarantees of future performance and involve certain risks,
uncertainties, and assumptions (“Risk Factors”) that are difficult
to predict with regard to timing, extent, likelihood, and degree of
occurrence. Risk Factors include, among others: the risk that the
Company will be able to successfully implement its growth and
profit improvement strategies; changes in general economic
conditions, employment rates, business conditions, interest rates,
tax policies, inflationary pressures and other factors affecting
consumer spending in the markets and regions in which the Company’s
products are sold; the inability for any reason to effectively
compete in global footwear, apparel and consumer-direct markets;
the inability to maintain positive brand images and anticipate,
understand and respond to changing footwear and apparel trends and
consumer preferences; the inability to effectively manage inventory
levels; increases or changes in duties, tariffs, quotas or
applicable assessments in countries of import and export; foreign
currency exchange rate fluctuations; currency restrictions; supply
chain or other capacity constraints, production disruptions,
quality issues, price increases or other risks associated with
foreign sourcing; the cost and availability of raw materials,
inventories, services and labor for contract manufacturers; the
effects of the COVID-19 pandemic and other health crises and
containment efforts on the Company’s business, operations,
financial results and liquidity, including the duration and
magnitude of such effects; labor disruptions; changes in
relationships with, including the loss of, significant wholesale
customers; risks related to the significant investment in, and
performance of, the Company’s consumer-direct operations; risks
related to expansion into new markets and complementary product
categories; the impact of seasonality and unpredictable weather
conditions; effects of changes in general economic conditions
and/or the credit markets on the Company’s manufacturers,
distributors, suppliers and retailers; changes in the Company’s
effective tax rates; failure of licensees or distributors to meet
planned annual sales goals or to make timely payments to the
Company; the risks of doing business in developing countries, and
politically or economically volatile areas; the ability to secure
and protect owned intellectual property or use licensed
intellectual property; the impact of regulation, regulatory and
legal proceedings and legal compliance risks, including compliance
with federal, state and local laws and regulations relating to the
protection of the environment, environmental remediation and other
related costs, and litigation or other legal proceedings relating
to the protection of the environment or environmental effects on
human health; the potential breach of the Company’s databases or
other systems, or those of its vendors, which contain certain
personal information, payment card data or proprietary information,
due to cyberattack or other similar events; problems affecting the
Company’s supply chain or distribution system, including service
interruptions at shipping and receiving ports; strategic actions,
including new initiatives and ventures, acquisitions and
dispositions, including the sale of the Sperry brand, and the
Company’s success in integrating acquired businesses, and
implementing new initiatives and ventures; risks related to
stockholder activism, the risk of impairment to goodwill and other
intangibles; changes in future pension funding requirements and
pension expenses; and additional factors discussed in the Company’s
reports filed with the Securities and Exchange Commission and
exhibits thereto. The foregoing Risk Factors, as well as other
existing Risk Factors and new Risk Factors that emerge from time to
time, may cause actual results to differ materially from those
contained in any forward-looking statements. Given these or other
risks and uncertainties, investors should not place undue reliance
on forward-looking statements as a prediction of actual results.
Furthermore, the Company undertakes no obligation to update, amend,
or clarify forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240501639095/en/
Dave Latchana, (616) 863-4226
Wolverine World Wide (NYSE:WWW)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Wolverine World Wide (NYSE:WWW)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024