April 26, 2012 | comments ( 0 ) |
Wolverine Worldwide has signed a joint venture (JV) agreement with Tata International Limited (TIL) to market its Merrell and Caterpillar footwear brands and apparels in India. To begin with, the new equal joint venture will focus on the wholesale distribution of Wolverine’s Merrell and Caterpillar footwear. TIL, part of India’s foremost diversified conglomerate, the Tata Group with a presence in more than 80 countries, is an experienced footwear manufacturer with market presence of over 30 years in India. Besides, the joint venture will have an additional arrangement with Trent, another Tata Group company which operates more than 50 departmental stores in India. Wolverine already has significant Indian presence through footwear brand ‘Hush Puppies’ which entered the market several years ago via a separate distribution agreement. Wolverine World Wide, Inc. is one of the world's leading marketers of branded casual, active lifestyle, work, outdoor sport and uniform footwear and apparel. It has several well known worldwide brands such as, Bates, Chaco, Cushe, Hush Puppies, HYTEST, Merrell, Sebago, Soft Style and Wolverine in its portfolio. Moreover, the company also has the footwear licenses for brands namely including CAT, Harley-Davidson and Patagonia. The Company's products are retailed in the US, and internationally in more than 190 countries and territories.