Wolverine Worldwide Sells Champion Trademarks
30 Junho 2022 - 6:15PM
Business Wire
Transaction includes a perpetual license for
the Company to continue using the trademarks on its Keds Champion
footwear
Wolverine World Wide, Inc. (NYSE: WWW), which operates one of
the world’s largest portfolios of iconic footwear and lifestyle
brands, today announced that Keds, LLC, its wholly-owned
subsidiary, has sold the Champion trademarks for footwear in the
United States and Canada to its longtime licensee, HanesBrands Inc,
for $90 million in cash.
Under the agreement, Wolverine Worldwide retains a perpetual
license to continue using the Champion trademark on certain
footwear, including the Keds Champion sneaker that has been a
mainstay of its Keds brand for decades. The transaction also
successfully resolves outstanding litigation between the
parties.
“This transaction represents a unique opportunity to simplify
our business model while at the same time securing a significant
amount of cash at a meaningful multiple of future expected royalty
streams,” said Brendan Hoffman, Wolverine Worldwide’s President and
Chief Executive Officer. “Also, by retaining a perpetual license
our Keds brand will continue to market and sell the iconic Keds
Champion sneaker that its consumers have worn and loved for
generations.”
ABOUT WOLVERINE WORLDWIDE Founded in 1883 on the belief
in the possibility of opportunity, Wolverine World Wide, Inc.
(NYSE:WWW) is one of the world’s leading marketers and licensors of
branded casual, active lifestyle, work, outdoor sport, athletic,
children’s and uniform footwear and apparel. Through a diverse
portfolio of highly recognized brands, our products are designed to
empower, engage and inspire our consumers every step of the way.
The company’s portfolio includes Merrell®, Saucony®, Sweaty Betty®,
Sperry®, Hush Puppies®, Wolverine®, Keds®, 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
or visit us on Facebook, LinkedIn, and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20220630005903/en/
Dave Latchana david.latchana@wwwinc.com
Wolverine World Wide (NYSE:WWW)
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