Wolverine World Wide's Bold Gambit: Divests Hush Puppies IP In China, Hong Kong, And Macau
Portfolio Pulse from Nabaparna Bhattacharya
Wolverine World Wide, Inc. (NYSE:WWW) has agreed to sell Hush Puppies intellectual property in China, Hong Kong, and Macau to Beijing Jiaman Dress Co., Ltd for $58.8 million. The company will continue to own and operate the Hush Puppies brand in the rest of the world. This move is part of Wolverine's brand portfolio transformation, which includes the sale of its U.S. Wolverine Leathers business to New Balance for approximately $6 million. The company's shares traded higher by 4.08% to $8.41 on the last check Friday.
September 01, 2023 | 1:49 pm
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Wolverine's sale of Hush Puppies IP in China, Hong Kong, and Macau for $58.8M is part of its brand portfolio transformation. The company's shares traded higher by 4.08%.
The sale of Hush Puppies IP is a significant move in Wolverine's brand portfolio transformation, which is likely to have a positive impact on the company's financial position. This news has already positively impacted the company's stock price, which traded higher by 4.08%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100