Wolverine World Wide, Inc. (NYSE:WWW) today announced it has established the Merrell Performance Footwear brand as a separate operating unit of the Company. This new business structure will be headed by Merrell's President Jacques Lavertue, who will report directly to Timothy J. O'Donovan, Wolverine's President and CEO.
“Since its acquisition in late 1997, Merrell Footwear has grown from a niche brand of hiking and rugged footwear to a global leader in high performance outdoor and casual footwear,” stated O'Donovan. “As a result, Merrell now ranks among the largest and most profitable brands in our portfolio. This move recognizes Merrell's unprecedented success and its importance as a future growth engine for the Company.”
“The Merrell team has grown the business nearly seven-fold over the past five years,” said Lavertue. “Our success is the result of a winning formula which combines Merrell's commitment to innovation and design excellence with Wolverine's strong financial and supply chain management expertise. The Merrell team is honored by this move and believes this new operating structure will provide the resources to assist the brand in reaching its long term objective to become the global reference brand in the performance outdoor market.”
With a commitment to service and product excellence, Wolverine World Wide, Inc. is one of the world's leading marketers of branded casual, active lifestyle, work, outdoor sport and uniform footwear and slippers. The Company's portfolio of highly recognized brands includes: Bates(R), Hush Puppies(R), HYTEST(R), Merrell(R) and Wolverine(R). The Company also markets footwear under the following popular licensed brands: CAT(R), Coleman(R), Harley-Davidson(R), Karen Neuburger(R), Stanley(R) and Turtle Fur(R). The Company's products are carried by leading retailers in the U.S. and are distributed internationally in over 140 countries. For additional information, please visit our website, www.wolverineworldwide.com.
Contact: Wolverine World Wide, Inc., Rockford
Stephen L. Gulis Jr., 616/866-5570