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WWW - Wolverine World Wide, Inc.
$29.59
-0.53(-1.76%)4:49:27 PM 1/27/2021
Wolverine World Wide, Inc. or Wolverine Worldwide, is a publicly traded American footwear manufacturer based in Rockford, Michigan. The shoemaker is known for its eponymous brand, Wolverine Boots and Shoes, as well as other brands, such as Hush Puppies and Merrell. The company also manufactures licensed footwear for other firms, such as Caterpillar and Harley-Davidson. In 2012, Wolverine World Wide added Saucony, Keds, Stride Rite and Sperry Top-Sider to its list of brands, after acquiring the Performance Lifestyle Group of Collective Brands in a $1.23 billion transaction that also involved the sale of Payless ShoeSource and Collective Licensing International to private equity firms Blum Capital Partners and Golden Gate Capital. G. A. Krause and Fredrick Hirth founded the company in 1883. Fredrick Hirth and Mr. Krause bought a small leather shop in Grand Rapids, Michigan, starting with a capital investment of $2,900. In 1901, they decided to build a plant in Rockford Michigan, just north of Grand Rapids. They purchased and expanded the Rogue River Electric Light and Power Company to power their new plant and the city of Rockford. In 1903, operations began and in 1908, a tannery followed. The company now processed its own raw materials and manufactured its own shoes sold through the Hirth-Krause Company. In 1921, the company changed its name to Wolverine Shoe and Tanning Corporation. From 1916-1923, its earnings increased 700%.
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