US footwear firm Designer Brands Inc. has acquired the Kedsbrandfrom Wolverine Worldwide. A new licence agreement has also been signed withHush Puppies for the US and Canada.
Designer Brands is the parent company of footwear retailer Designer Shoe Warehouse (DSW). The deal was made for an undisclosed sum.
Wolverine will give DBI an exclusive licence for Hush Puppies footwear in the US and Canada where DSW has been the brand’s only retailer since last year. The licensing agreement is expected to take effect from July 2023.
Brendan Hoffman, president and chief executive officer of Wolverine Worldwide, said: “Selling Keds and licensing the Hush Puppies brand for the United States and Canada is an important step as we continue to advance our strategy to simplify the portfolio and direct resources to our growth brands. We are confident this will place Wolverine on an accelerated path to improved profitability and long-term shareholder value creation.
“We are particularly pleased to have reached this agreement with Designer Brands, a longtime retail partner of ours and a natural fit to guide the iconic Keds brand into its next phase.”
Wolverine noted that its evaluation of strategic alternatives for the Wolverine Leathers business is ongoing.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Company Profile – free sample
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
Designer Brands acquires Keds from Wolverine, inks new Hush Puppies
Hush Puppies
Hush Puppies is an American brand of casual footwear. A division of Wolverine World Wide, Hush Puppies is headquartered in Rockford, Michigan. Wolverine also licenses the Hush Puppies name for apparel, toys and accessories.
licensing deal. Designer Brands Inc.announced on Wednesday it has acquired footwear brands Keds from Wolverine Worldwide, in addition to inking a new licensing deal with the footwear giant's Hush Puppies brand for the U.S. and Canada.
The Keds brand sale closed effective February 4, 2023 , and the Hush Puppies license is anticipated to be effective as of July 1, 2023 . The Company will provide more information on the impact of these transactions in its upcoming earnings call scheduled for February 22, 2023 .
The Keds brand, which dates back to 1916, first came into the mix for Wolverine World Wide as part of the blockbuster $1.23 billion deal in 2012 for Collective Brands Inc., which also included the Sperry Top-Sider, Saucony and Stride Rite brands.
(DBI) has snapped up the Keds label from Wolverine Worldwide. The DSW-parent company will acquire all Keds products, including the Pro-Keds sneaker line, and the brand's e-commerce business as part of the deal, the terms of which were not disclosed. Prior to the deal, DSW was Keds' largest wholesale customer.
US footwear firm Designer Brands Inc. has acquired the Keds brand from Wolverine Worldwide. A new licence agreement has also been signed with Hush Puppies for the US and Canada. Designer Brands is the parent company of footwear retailer Designer Shoe Warehouse (DSW).
Founded in 1916 by U.S. Rubber, its original shoe design was the first mass-marketed canvas-top sneaker. The brand was sold to Stride Rite in 1979, which was acquired by Wolverine World Wide in 2012. Since February 2023, Keds has been owned and operated by Designer Brands.
Completing its plan to shed one of its subsidiary brands, Wolverine Worldwide sold the Keds brand to Designer Brands, shoe retailer DSW's parent company announced Wednesday in a press release.
OUTDOOR HERITAGE, QUALITY & PERFORMANCE Merrell was established in 1981 when two executives for the Rossignol ski company, Clark Matis and John Schweizer, decided to launch a new maker of hiking boots. Since 1997, the company has been a wholly-owned subsidiary of shoe industry giant Wolverine World Wide.
In 1908, Converse and Keds were opened in the US in 1908 and 1916. Following previous Plimsoll rubber shoes, Converse and Keds released their sneakers in the same year, 1917.
The brand offers products that marry luxury with comfort and class with functionality. To ensure its products' long life and guarantee the utmost customer satisfaction, Hush Puppies uses the best raw materials, the most important being real leather.
And while Jennifer Garner wearing Vejas or Gigi Hadid wearing Reeboks isn't necessarily shocking, Emily Ratajkowski wearing Keds definitely is. If you're thinking "Wow, I haven't heard the name Keds in a while," you are absolutely right.
Keds products are thoughtfully designed in the United States and produced primarily in Asia. We want to assure you that the working conditions and production techniques used to make Keds products are best in class. This allows us to provide good quality, on-trend products at affordable prices.
It has been worn by influential women including Marilyn Monroe, Audrey Hepburn, Ariana Grande and Taylor Swift throughout the decades. The brand particularly rose in popularity in the 80s after Jennifer Grey wore a pair of white Keds in the film Dirty Dancing in her role as Baby.
Designer Brands Inc. has expanded its owned brands stable with the addition of an iconic sneaker brand. The parent company of DSW (Designer Shoe Warehouse) has acquired Keds from Wolverine Worldwide Inc.
Davids, which has been a Toronto institution since 1951, is going out of business, forced into receivership earlier this summer by Rosejack, an investment company controlled by Larry Rosen, CEO of fashion retailer Harry Rosen. According to court filings, Davids owed just over $9 million to Rosejack.
Their partnership will make both Jordan and Nike international icons. 1984: Gucci becomes the first luxury fashion label to release a sneaker. The tennis shoe features red and green stripes.
In 1987, Jennifer Grey became famous for dancing in Keds during the cult classic film Dirty Dancing. The sneakers were also worn by iconic TV characters like Kelly Kapowski on Saved by the Bell and Stephanie and D.J. Tanner on Full House throughout the '80s and '90s.
Introduction: My name is Rueben Jacobs, I am a cooperative, beautiful, kind, comfortable, glamorous, open, magnificent person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
