Wolverine World Wide Divests Hush Puppies IP Rights in China, Hong Kong, and Macau for $58.8 Million

Wolverine World Wide, a global leader in footwear and apparel, has announced the sale of its Hush Puppies intellectual property portfolio in China, Hong Kong, and Macau. The transaction includes trademarks, patents, copyrights, and domain names associated with the Hush Puppies brand in these territories.

The buyer, Beijing Jiaman Dress Co., currently holds a sublicense for Hush Puppies in the region. The agreed sale price is approximately US$58.8 million. Wolverine expects the deal to close in the coming weeks.

Chris Hufnagel, president and CEO of Wolverine World Wide, explained that the company’s strategic focus in China, Hong Kong, and Macau is to concentrate on its largest brands. "Selling the Hush Puppies intellectual property in these countries is a part of this strategy," Hufnagel said.

Despite the divestment in these specific markets, Wolverine continues to regard Hush Puppies as an important brand within its global portfolio. The company plans to expand the brand’s presence through international licensing partnerships.

Mike Stornant, executive vice president and CFO, emphasized that the portfolio reshaping aims to improve operational efficiency, allocate resources toward growth brands, reduce debt, and enhance long-term shareholder value.

This transaction follows Wolverine’s recent sale of its US Wolverine Leathers business to New Balance, a longstanding customer, for approximately $6 million.

Founded in 1883, Wolverine World Wide’s brand portfolio includes well-known names such as Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies, Wolverine, Chaco, Bates, Hytest, and Stride Rite.

The sale of Hush Puppies IP rights in China, Hong Kong, and Macau marks a significant step in Wolverine’s ongoing brand portfolio transformation, aligning its market presence with strategic priorities in the Asia-Pacific region and globally.