Wolverine Transforming Saucony and Merrell Model in China

December 18, 2023

Wolverine World Wide, Inc. said it plans to shift its Merrell and Saucony businesses in China from a joint venture model with Xtep to a license and distribution rights model. It also agreed it sell its Asia-based Wolverine Leathers business. Both actions are expected to simplify Wolvderine’s business model and generate $70 million in proceeds. (SGBMedia)