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TheStreet Open House

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

Our second group is what we call our Lifestyle Group today, that Hush Puppies brand we invented in 1958. Again, in about 150 countries around the world, Sebago brand we acquired about 10 years ago, probably the most premium brand in our portfolio, especially within Europe, where that brand is strong and then probably the most useful brands in our portfolio Cushe, which focused on action sports serve in that Lifestyle market.

Our third group is our heritage group, again composed of Wolverine brand, the name on our stock certificate, number one a boot brand in USA work, Caterpillar brand, our global Lifestyle brand, but also very important in the USA work market in Bates and Harley-Davidson.

So we recently announced on May 1 and we’ll get some updates today our acquisition of the PLG Group, which is formally the publicly traded Stride Rite Corporation that was bought Payless Corp., Payless Corporation several years ago.

We’re very excited about this transaction. Frankly, we’re more excited today, more enthusiastic, more optimistic today then we were on May 1 or as we went through this small time month process, following the closing of this and Donald have some more details in a minute, following the closing of this transaction, which would take place with the next three -- within the next three or four weeks.

We will be the largest non-athletic footwear company in the world with about 100 million pair of footwear and units of apparel sold in well over 200 countries around the world. I say, largest non-athletic footwear company with all do difference to Saucony and to several collections within the Merrell brand.

When we look at the combination of our current 12 brand portfolio with these four brands, we’re very, very excited. It becomes almost a one stop shopping for many of our international distributors and for many of our retail partners. We cover all genders, all age groups, all distribution channels, all consumer groups. It’s really a very and very powerful brand portfolio, the largest in the world.

Read the rest of this transcript for free on seekingalpha.com

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