WWW sells US Leathers and Hush Puppies IP in China

Following the recent sale of Keds to Designer Brands, US-based Wolverine Worldwide (WWW) has announced the sale of its US Leathers business to New Balance and the intellectual property for the Hush Puppies brand in Greater China to its current sublicense in that region.

WWW has completed the sale of its US Wolverine Leathers business to long-time customer New Balance for approximately USD 6 million, while it continues to explore alternatives for the non-US Wolverine Leathers trade.

In order to concentrate on its four largest brands, WWW has entered into a definitive agreement with the company’s current sublicensee of Hush Puppies in China, Hong Kong and Macau – Beijing Jiaman Dress Co – to transfer the brand’s copyrights, patents and trademarks for around USD 58.8 million. Wolverine Worldwide will continue to own and operate Hush Puppies’ business in the rest of the world.

“Our strategic approach in China, Hong Kong and Macau is to focus on our biggest brands, and selling the Hush Puppies intellectual property in these countries is a part of this strategy,” commented WWW’s president and chief executive officer, Chris Hufnagel. “Hush Puppies remains an important brand in our portfolio, and we are committed to growing it through strong global licensing partnerships and expanding our connections with local consumers. We look forward to partnering with Beijing Jiaman Dress and to ensuring the global success of Hush Puppies.”

The photograph above shows a Hush Puppies store in Hong Kong.

Publishing Data

This article was originally published on page 2 of the October 2023 issue of SATRA Bulletin.

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