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Wolverine's CEO Presents At Goldman Sachs 2012 Global Retailing Conference (Transcript)

We own our operations in Europe. We own our operations and run them directly in Canada and the United States, and then we operate through a distributor network that we’ve had in place since 1959. So 1959, we took the one-year old Hush Puppies brand international that’s given us 30, 40, 50-year base of partnership and relationships around the world for our brand.

Our vision hasn’t changed in many years fundamentally. We’re focused on innovation as a company, it can be on the apparel side, it can be on the footwear side, it can be on the supply chain side, it can be on processes. But we are focused innovation, moving beyond just footwear and then expanding our international base of business.

This graph which I think on slide three or four shows our brand activity over the last 15 years or so. So the top part of this graph shows the brands we’ve acquired over that period of times, starting with Caterpillar and Merrell and Harley-Davidson and HyTest early on, and most recently with Saucony, Sperry, Stride Rite and Keds. I’ll talk a little bit more about the PLG acquisition in a moment.

Over that same spend of years we’ve moved just beyond the United States and operate directly in Canada. Took over our distributor operations in Europe and recently earlier this year announced some joint ventures. One in India with the Tata Group and then one in Colombia with the long time multi decade partner of the company.

Today we operate within three different branded groups. The first group is the Outdoor Group. This is our largest group in terms of revenue and earnings generated for the corporation.

The Merrell Brand, a brand we bought about 11, 12, 13 years ago now, was about $25 million when we bought it, it’s about $500 million in sales today in about 150 countries around the world, but also within this group Patagonia footwear and Chaco. Chaco was a performance sandal brand we picked up a couple of years ago. Number one performance in sandal brand and the outdoor retail sector in the United States.

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