Designer Brands Inc. has expanded its owned brands stable with the addition of an iconic sneaker brand.
The parent company of DSW (Designer Shoe Warehouse) has acquired Keds from Wolverine Worldwide Inc. The deal, in line with the footwear giant’s previously announced goal to double sales of owned brands by fiscal 2026, includes all Keds’ products along with the brand’s e-commerce business.
“Selling Keds and licensing the Hush Puppies brand for the United States and Canada is an important step as we continue to advance our strategy to simplify the portfolio and direct resources to our growth brands,” said Brendan Hoffman, Wolverine Worldwide’s President and CEO. “We are confident this will place Wolverine on an accelerated path to improved profitability and long-term shareholder value creation. We are particularly pleased to have reached this agreement with Designer Brands, a longtime retail partner of ours and a natural fit to guide the iconic Keds brand into its next phase.”
