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
Fast food giant McDonald's on Wednesday announced its global growth plan, targeting sales growth of 3-5% beginning in 2019. The company also highlighted its vision for new restaurants relying on technology such as self-ordering kiosks, curbside pick ups and partnerships with delivery services. At... Canadian drug-maker Valeant Pharmaceuticals International, Inc. on Tuesday reported a loss for the fourth quarter that widened from last year on a double-digit decline in revenues. However, both revenue and adjusted earnings beat analysts' estimates. Valeant also said it plans to relaunch its sexual dysfunction drug Addyi in the U.S. Electronics retailer Best Buy Co., Inc. Wednesday issued guidance for first-quarter adjusted earnings and revenues, below market estimates. Comparable sales are expected to be weak. For fiscal 2018, the company projects higher revenues and operating income. In its fourth quarter, the company posted higher profit, above market view, while revenues missed estimates with lower comparable sales.
comments powered by Disqus
Follow RTT