Wolverine Worldwide creates children's group, licenses Stride Rite
Under the licensing agreement, global design, development and marketing of the Stride Rite brand will be handed over to Vida for both footwear and other related children's products.
Vida has a long history in the children's footwear and apparel industries. Its children's brand portfolio includes Carter's, OshKosh B'gosh and Hanna Andersson. It also holds licenses for fashion brands Unionbay, Esprit, Kensie, XOXO and Nanette Lepore.
Blake Krueger, Wolverine's Chairman, Chief Executive Officer and President said, "Vida Shoes International shares our mission to design products that kids love, while offering parents fashionable and functional options for their children."
Vida plans to begin growing Stride Rite operations globally this July.
In addition to the Stride Rite license, Wolverine announced it is creating a new children's group to better serve the market. The children's group will include Wolverine brands Hush Puppies, Keds, Merrell, Sperry and Saucony.
Wolverine has hired Bornie Del Priore as Vice President and General Manager of the children's group. Del Priore has significant experience with product, marketing and distribution of licensed and branded footwear.
Del Priore comes most recently from Tommy Bahama Footwear where she was Executive Vice President. Additionally her experience includes senior leadership with the Tommy Hilfiger brand and Ralph Lauren Footwear.
Krueger explained that the Stride Rite license and formation of the children's group are two concrete steps "to position the Company to drive deeper consumer connections, accelerate the global growth of our brands, and ultimately, deliver greater shareholder value."
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