Wolverine makes acquisition and announces job cuts
09/01/2009
Cushe launched its initial collection in 2005 in the United Kingdom. The Cushe brand is focused on younger consumers, with products ranging from sport casuals to sandals. It has since established distribution in premiere accounts in 21 countries. Cushe was founded by designer Martin Dean, who has served as a key design resource to Wolverine as an employee and an outside designer for many years.
"We are extremely pleased to add the Cushe brand to our already-strong portfolio of lifestyle brands," commented Blake Krueger, Wolverine's Chief Executive Officer and President. "Cushe's fresh product, outstanding design and connection to younger consumers seeking comfortable footwear are compelling and create a unique brand opportunity. While current sales are modest at less than 100,000 pairs annually, we believe the Cushe brand has tremendous untapped potential.”
Prior to the Cushe acquisition, Wolverine announced a major restructuring effort, which will include shedding 450 jobs worldwide.
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