FRANCE: Collective Brands sets up French subsidiary
Footwear company Collective Brands, whose shareholders earlier this week approved a deal to sell it to Wolverine Worldwide and two private equity firms, has set up a subsidiary in France.
It will handle the distribution of Collective Brands' Sperry Top-Sider, Pro-Keds and Keds brands in France, beginning with the collections for spring 2013.
Collective Brands' current French distributor is France's leading shoe wholesaler, Royer, whose first contract with the US company dates back to december 2006.
"We decided that we did not wish continue in the role as the results fell short of our expectations," Royer's communications director, Anne Royer-Cochois, told just-style today (24 August).
"There was also a willingness on Collective Brands' part to create its own structure for the management of its brands in Europe. So things have come to a natural end, We continue to enjoy very good relations with them."
She said the end of the contract had been scheduled for some time and played down the financial impact of it not being renewed, Royer having been awarded other brand licences, such as Kaporal.
Collective Brands has appointed two commercial managers for the French market who will report to Michael Schmitz, the company's commercial director, Europe
Lifestyle, based in Amsterdam.
The new French subsidiary has offices and a showroom in Paris.
Footwear maker Wolverine Worldwide has swung to a fourth-quarter loss on the back of costs related to its acquisition of Collective Brands' Performance & Lifestyle Group last year....
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Footwear maker Wolverine Worldwide has today (8 January) outlined a number of organisational changes designed to help drive global growth following its acquisition of Collective Brands' Performance & ...
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