Wolverine Worldwide Advances Strategic Transformation With New Licensing Agreements

Wolverine World Wide, Inc. (NYSE: WWW) today announced that it has entered into two global licensing agreements as part of its ongoing strategic transformation into a brand-led growth company.

Under the first agreement, Vida Shoes International will become the global Merrell and Saucony licensee for kids footwear with rights to these products in almost all markets subject to existing licenses. Vida is one of the Company’s key partners, having licensed the Stride Rite brand from Wolverine Worldwide since 2017, and currently sources more than 20 million pair of kids footwear annually in several categories.

The Company also agreed to license the global rights for Merrell apparel and accessories – including packs, bags, and hats – to Centric Brands LLC in almost all markets subject to existing licenses. Centric has deep licensing experience and currently serves as the apparel and accessories partner for more than 100 global consumer brands.

The new partnerships will be managed by Bornie Del Priore, Wolverine Worldwide’s President of Global Licensing. Ms. Del Priore has decades of licensing experience, including with the Company’s Hush Puppies and Stride Rite brands and in her prior leadership roles at Tommy Hilfiger and Ralph Lauren.

“Merrell and Saucony kids’ footwear are beloved by active families around the world and have helped to create life-long Merrell and Saucony customers,” said Chris Hufnagel, President and Chief Executive Officer of Wolverine Worldwide. “By leveraging Vida’s deep experience with children’s products and our Stride Rite brand, we are confident we will build on these brands’ success. We are also excited about the potential to establish Merrell as a head-to-toe global lifestyle brand in partnership with Centric, which has a proven record of accelerating the growth of its licensed brands.”

Mr. Hufnagel continued, “Global licensing partnerships like these drive significant value for the Company, reducing risk and cost while enabling us to realize the full value of our brands. We will continue to take actions to transform Wolverine Worldwide as we deliver on our vision to become builders of great global brands.”

ABOUT WOLVERINE WORLDWIDE

Founded in 1883, Wolverine World Wide, Inc. (NYSE:WWW) is one of the world’s leading designers, marketers, and licensors of branded casual footwear and apparel, performance outdoor and athletic footwear and apparel, kids’ footwear, industrial work boots and apparel, and uniform footwear. The Company’s portfolio includes Merrell, Saucony, Sweaty Betty, Hush Puppies, Wolverine, Chaco, Bates, HYTEST, and Stride Rite. Wolverine Worldwide is also the global footwear licensee of the popular brands Cat and Harley-Davidson. Based in Rockford, Michigan, for more than 130 years, the Company's products are carried by leading retailers in the U.S. and globally in approximately 170 countries and territories. For additional information, please visit our website, www.wolverineworldwide.com.