LEXINGTON, Mass., Dec 9, 2003 (BUSINESS WIRE) — The Stride Rite Corporation (NYSE:SRR), maker of the leading brand of children's footwear in the United States, announced a new licensing partnership with H.H. Brown Shoe Company, Inc. to develop, market and sell an exclusive line of children's footwear under the Born name. The license agreement, which will run through March 2007, covers the territory of the United States and Puerto Rico.
“It is a great pleasure to collaborate with H.H. Brown on this project. The Born brand will enhance Stride Rite's commitment to provide the very best in fashionable, comfort-inspired children's footwear,” said David Chamberlain, Stride Rite's Chairman and CEO.
“We are thrilled to be partnering with Stride Rite, the leader in the children's business,” said Jim Issler, H.H. Brown's President and COO. “Stride Rite's expertise, combined with Born's reputation for unique, hand crafted footwear, provides great synergies and will allow us to offer new products into the premium children's market.”
“The Born brand stands for quality, comfort and style. It will be a great compliment to the product assortment we offer in our Stride Rite retail stores and to our department and specialty store customers,” said Pam Salkovitz, President of Stride Rite Children's Group, Inc. a division of The Stride Rite Corporation.
“Stride Rite and Born are a good match. This new relationship will showcase the Born brand in the best locations for premium children's footwear, Stride Rite stores and their other strong channels of distribution,” said Thomas McClaskie, President of Born.
The Stride Rite Corporation markets the leading brand of high quality children's shoes in the United States. Other footwear products for children and adults are marketed by the Company under well-known brand names, including Keds, Pro-Keds, Sperry Top-Sider, Tommy Hilfiger, Grasshoppers and Munchkin. Information about the Company is available on our website – www.strideritecorp.com. Information about the Company's brands and product lines is available at www.striderite.com, www.keds.com, www.ProKeds.com and www.sperrytopsider.com.
H.H. Brown Shoe Company, Inc., a division of Berkshire Hathaway, Inc., has become a major supplier of premier work shoes and boots, rugged outdoor footwear and men's and women's comfort casual shoes. H.H. Brown markets shoes under well-known brand names, including B0rn, Dexter, Softspots, Carolina, Quark, Corcoran, Matterhorn and Nursemates. Information about the brands sold by H.H. Brown is available at www.hhbrown.com.
The Stride Rite Corporation
Frank A. Caruso, (617) 824-6611
Chief Financial Officer