Designer Brands Expands Portfolio with Keds Acquisition
The parent of the DSW chain continues to expand its own brands’ portfolio of casual and athleisure brands that already includes Topo Athletic and Le Tigre. Last week, Designer Brands acquired Keds from Wolverine Worldwide for $83.6 million cash in a deal that also included Keds’ e-commerce business and the Pro-Keds athleisure label.
In a separate transaction with Wolverine, Designer Brands obtained an exclusive license for the Hush Puppies footwear brand in the U.S. and Canada.
“Our growing strength in owned brands is evident, given that 12 months ago, the athleisure category was a massive white space opportunity for us, and now we control high-quality brands across multiple price points,” Doug Howe, incoming DSW president and CEO, said in a statement.