Buyer comes forward for Wolverine Asia leather business
Footwear group Wolverine Worldwide has completed the sale of its leather business, with Thailand-based leather manufacturer Interhides acquiring the Asian side of the business.
The group announced in December 2022 that it intended to sell this part of its business, Wolverine Leathers.
The footwear group ran its own tannery in Rockford, Michigan, for 100 years, specialising from the 1950s onwards in making nubuck leathers from pigskin for brands in its portfolio, including Hush Puppies.
This tannery ceased production in 2009, but Wolverine Leathers has, until now, remained an active part of the group, contracting leather production and colouring to suppliers in five locations in the US, Vietnam, Thailand and China. Interhides was one of its suppliers.
In September, Wolverine announced that it had succeeded in selling part of its leather business; athletic footwear brand New Balance bought the US part of the Wolverine Leathers business for $6 million.
On December 18, it announced that Interhides was buying the rest of Wolverine Leathers, paying around $9 million.
Image: Interhides.
