Wolverine Worldwide sells footwear brand
Wolverine Worldwide has sold one of its brands.
Rockford-based Wolverine Worldwide, a maker of footwear and apparel, has sold Sebago, a brand of boating and deck footwear, to BasicNet S.p.A., an Italian corporation that also owns the brands Kappa, Robe di Kappa, Superga and more.
The decision to sell Sebago came as part of the company’s Wolverine Way Forward campaign, a strategic transformation effort to optimize the organization to excel in the "new normal," a fast-evolving consumer and global marketplace. Wolverine said this is the most comprehensive transformation in company history.
"As an organization, we have always been active portfolio managers, with a sharp focus on our highest-value opportunities,” said Blake Krueger, president, Wolverine Worldwide.
“We have recently completed a strategic review of our existing portfolio and have been exploring a variety of alternatives for some of our smaller brands and businesses.”
Wolverine Worldwide, founded in 1883, makes footwear and apparel for a variety of markets: casual; active lifestyle; work; outdoor sport; athletic; children's; and uniform.
The company’s brand portfolio includes Wolverine, Merrell, Saucony and more.
Its products are carried in about 200 countries and territories.