logo
Share SHARE
FONT-SIZE Plus   Neg

Wolverine Worldwide And Forus SA Form JV In Colombia - Quick Facts

Wolverine Worldwide (WWW) and Forus SA announced the formation of a new joint venture, Lifestyle Brands of Colombia, to market footwear in Colombia.

Wolverine Worldwide noted that the joint venture will be granted the long-term distribution rights to market some of Wolverine's most significant brands, Merrell and Caterpillar Footwear, in the important Colombian market. Further, the venture will market Forus' well-established outdoor brand, RKF. Wolverine will own 51% of the new joint venture.

Wolverine said that as a second part of the business collaboration, it is purchasing a 49% stake in Forus' existing Colombian business, Forus SA Colombia, which currently has the rights to Wolverine's Hush Puppies and Cushe brands in Colombia. Forus SA Colombia currently owns and operates 23 retail locations and sells directly to Colombia's most important department stores and specialty footwear retailers.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share. Goldman Sachs is changing the way it reviews the performance of its some 36,500 employees, media reported Thursday, citing two company wide memos. The bank, considered to be a forerunner in formulating employee compensation policy, is looking to scrap a system that rated employees on a scale of 1 to 9. The system is considered to grind down employee morale. Taiwanese electronics assembler Foxconn Technology Group has replaced 60,000 workers at a factory in China with robots, according to a report in the South China Morning Post. However, the company, which is a major supplier to Apple and Samsung, expects to maintain a significant workforce in China.
comments powered by Disqus
Follow RTT