Wolverine Worldwide Sells Keds Brand to Designer Brands

Wolverine Worldwide, which operates a portfolio of lifestyle and footwear brands, has announced it has sold the Keds brand to Designer Brands, parent company of footwear retailer, DSW. In addition, the company announced it will grant an exclusive license to DBI for Hush Puppies footwear in the U.S. and Canada, where DSW has been the exclusive retail partner for Hush Puppies since last year. 

“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,” says Brendan Hoffman, president and chief executive officer, Wolverine Worldwide. “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 long-time retail partner of ours and a natural fit to guide the iconic Keds brand into its next phase.”