Footwear brand Keds has sold the Champion trademarks for footwear in the US and Canada to HanesBrands for $90 million.

Under the agreement, Keds’ parent group Wolverine Worldwide, will retain a perpetual licence to use the Champion trademark on certain types of footwear, including the Keds Champion sneaker that it says has been a mainstay of its Keds brand for decades.

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