Sportswear brand Sweaty Betty has been acquired by US footwear manufacturer Wolverine Worldwide in a cash transaction of approximately $410 million (£295 million) and will join the company’s portfolio of brands which include Keds and Hush Puppies. Chief executive Julia Straus will stay at the firm after the deal.
Brendan Hoffman, president of Wolverine Worldwide, said in a statement: “Sweaty Betty’s expertise and focus on apparel, female consumers, and best-in-class digital execution has proven to be a winning combination. We are excited to support the brand’s continued growth while learning from its digital-first mindset and leveraging that strength across our portfolio,” he continued.
Founded in Notting Hill in 1998 by husband and wife Tamara and Simon Hill-Norton, Sweaty Betty expanded rapidly and now operates a chain of 65 shops across the UK, as well as stores in Hong Kong. Tamara and Simon said in a statement: “We’ve seen phenomenal growth at Sweaty Betty in the last few years. We founded Sweaty Betty with the purpose to empower women through fitness, and today we are delighted to have found the right partner in Wolverine Worldwide, a company that is perfectly positioned to support the acceleration of our mission.”
