Wolverine, known for its Keds, Saucony and Merrell sneakers, scoops up Sweaty Betty women’s activewear brand for $410 million
The maker of Wolverine boots and Keds sneakers is diving deeper into apparel with the acquisition of women’s activewear brand Sweaty Betty for about $410 million in cash, according to the company.
Wolverine Worldwide Inc., which is best known for selling shoes since it was founded in 1883, is making the leap into athletic wear as growth surges in the category, along with competition. Brands including J.Crew Group Inc. and Tory Burch LLC now sell their own activewear lines and department stores such as Nordstrom Inc. and Kohl’s Corp. have been devoting more space to the stretchy, performance apparel.
“My mission has always been to empower women through fitness and beyond,” wrote Sweaty Betty’s co-founder, Tamara Hill-Norton, on the company’s website. Ms. Hill-Norton and her husband, Simon Hill-Norton, are no longer formally involved with the company, according to Wolverine. Wolverine is buying the brand from shareholders that include L Catterton, a private-equity firm co-owned by Bernard Arnault, the CEO of LVMH Moët Hennessy Louis Vuitton SE.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
WSJ News Exclusive | Two U.S. Companies Seek Continued Tariffs on Imported Solar PanelsAuxin Solar and Suniva plan to ask the U.S. International Trade Commission to extend the solar tariffs for four years, reigniting a fight that has split the industry—and could force the White House to choose sides.
Leer más »
WSJ News Exclusive | Reese Witherspoon’s Hello Sunshine to Be Sold to Media Company Backed by BlackstoneBreaking: Reese Witherspoon’s media business, Hello Sunshine, is selling itself to a firm backed by private-equity giant Blackstone Group, the companies said, part of a plan to build an independent entertainment company for Hollywood’s streaming era
Leer más »
WSJ News Exclusive | PepsiCo to Sell Tropicana, Naked Juice Brands to Private-Equity FirmThe snacks-and-beverage company will sell Tropicana, Naked and other juice brands in North America to private-equity firm PAI Partners, according to people familiar with the matter.
Leer más »
News Corp to buy OPIS for $1.15 billion in cashNews Corp undefined announced Monday an agreement to buy Oil Price Information Service (OPIS) for $1.15 billion in cash, from S&P Global Inc. undefined and...
Leer más »
Athlete says Tokyo Olympics 'feels like a prison' in rant about food at gamesRace walker Tom Bosworth complained the food was like something out of a 'sweaty school dining hall.'
Leer más »
Here’s the trick to buying a new house while selling the old oneIt's hard enough buying a house these days, and if you sell your house before buying, you might end up with nowhere to go.
Leer más »