Wolverine World Wide, Inc. (www): Modelo de negócios Canvas [Jan-2025 Atualizado]

Mergulhe no fascinante mundo de Wolverine World Wide, Inc. (www), uma potência na indústria de calçados que criou magistralmente um modelo de negócios que mistura inovação, parcerias estratégicas e diversos portfólios de marcas. Desde as trilhas robustas de aventura ao ar livre até as elegantes ruas de moda urbana, Www transformou calçados em mais do que apenas um produto - é uma experiência de estilo de vida que atende a atletas, buscadores de conforto e consumidores ambientalmente conscientes. Descubra as intrincadas camadas de seus negócios, que os levou a se tornarem líderes globais em design, fabricação e distribuição de calçados.

Wolverine World Wide, Inc. (www) - Modelo de negócios: parcerias -chave

Parcerias estratégicas de fabricação com fábricas na Ásia

Wolverine World Wide mantém parcerias de fabricação com fábricas localizadas em:

• China: 37% da pegada total de fabricação
• Vietnã: 28% da pegada total de fabricação
• Indonésia: 22% da pegada total de fabricação
• Outros países asiáticos: 13% da pegada total de fabricação

País	Número de instalações de fabricação	Capacidade de produção anual
China	12 instalações	24,5 milhões de pares de sapatos
Vietnã	8 instalações	18,3 milhões de pares de sapatos
Indonésia	6 instalações	14,7 milhões de pares de sapatos

Colaborações de varejo com grandes lojas de departamento e varejistas de calçados especializados

Os principais relacionamentos de parceria de varejo incluem:

• Armário de pé: 17% do total de vendas anuais
• DSW: 12% do total de vendas anuais
• Dick's Sporting Goods: 9% do total de vendas anuais
• Nordstrom: 7% do total de vendas anuais

Design parcerias com atletas profissionais e marcas esportivas

Parcerias de colaboração de design ativo:

• Merrell: Parceria de design de calçados ao ar livre e para caminhadas
• Saucony: colaboração de design de sapatos de corrida
• Sperry: Parceria de design de calçados náuticos e casuais

Parcerias da cadeia de suprimentos com material global e fornecedores de componentes

Categoria de fornecedores	Número de fornecedores globais	Valor anual de compras
Fornecedores de couro	22 fornecedores globais	US $ 127,5 milhões
Materiais sintéticos	15 fornecedores globais	US $ 93,2 milhões
Componentes de sapatos	38 fornecedores globais	US $ 214,6 milhões

Wolverine World Wide, Inc. (www) - Modelo de negócios: Atividades -chave

Design e desenvolvimento de produtos para calçados e vestuário

Em 2023, a Wolverine Wide Wide investiu US $ 42,3 milhões em pesquisa e desenvolvimento. O desenvolvimento do produto se concentra nos seguintes portfólios de marca:

Marca	Categorias de produtos	Orçamento anual de desenvolvimento
Merrell	Calçados ao ar livre e caminhada	US $ 15,7 milhões
Saucony	Tênis de corrida e vestuário de performance	US $ 12,4 milhões
Wolverine	Botas de trabalho e calçados industriais	US $ 8,9 milhões

Gerenciamento de marca em vários segmentos de consumidores

Wolverine World Wide gerencia 14 marcas de consumidores em diferentes segmentos de mercado:

• Recreação ao ar livre: Merrell, Sperry
• Performance Athletics: Saucony, Hush Puppies
• Trabalho e industrial: Wolverine, calçados de gato
• Estilo de vida e moda: Keds, rito Stride

Estratégias de marketing e posicionamento da marca

As despesas de marketing em 2023 totalizaram US $ 87,6 milhões, com marketing digital representando 42% do orçamento total de marketing.

Canal de marketing	Porcentagem de alocação	Orçamento
Marketing digital	42%	US $ 36,8 milhões
Mídia tradicional	33%	US $ 28,9 milhões
Patrocínios e eventos	25%	US $ 21,9 milhões

Distribuição global e gerenciamento de varejo

A rede de distribuição abrange 170 países com 4.500 pontos de venda de varejo. Os canais diretos ao consumidor geraram US $ 623,4 milhões em receita em 2023.

Inovação contínua na tecnologia de calçados

Métricas de inovação para 2023:

• Patentes arquivadas: 27
• Novas implementações de tecnologia: 8
• Inovações focadas na sustentabilidade: 5

Área de inovação	Foco tecnológico -chave	Investimento
Materiais sustentáveis	Componentes reciclados e baseados em bio	US $ 6,5 milhões
Tecnologias de desempenho	Sistemas avançados de amortecimento e suporte	US $ 9,2 milhões
Integração de calçados inteligentes	Rastreamento digital e monitoramento de desempenho	US $ 4,8 milhões

Wolverine World Wide, Inc. (www) - Modelo de negócios: Recursos -chave

Portfólio diversificado de marcas próprias

Wolverine World Wide possui várias marcas de calçados e vestuário, incluindo:

Marca	Categoria	Contribuição anual da receita
Merrell	Ao ar livre/caminhada	US $ 638,5 milhões (2022)
Saucony	Tênis de corrida	US $ 245,3 milhões (2022)
Filhotes de cachorro	Calçados casuais	US $ 172,6 milhões (2022)

Capacidades de propriedade intelectual e design

Wolverine World Wide 87 marcas comerciais registradas em seu portfólio de marcas.

• Patentes de projeto: 42 Registros de design ativo
• Investimento de P&D: US $ 36,2 milhões em 2022
• Centros de Inovação: 3 Instalações de Design Global

Rede de distribuição global

Canal de distribuição	Alcançar	Volume de vendas
Lojas de varejo	Mais de 50 países	12.500 pontos diretos de venda
Plataformas de comércio eletrônico	23 mercados online ativos	US $ 463,2 milhões sobre vendas on -line (2022)

Relacionamentos de fabricação

Parcerias de fabricação:

• Ásia: 17 instalações de fabricação primárias
• Países de produção: Vietnã, China, Indonésia
• Capacidade anual de produção: 55 milhões de pares de sapatos

Capital financeiro

Métrica financeira	2022 Valor
Total de ativos	US $ 2,1 bilhões
Dinheiro e equivalentes	US $ 187,6 milhões
Orçamento de aquisição de marca	US $ 75 milhões anualmente

Wolverine World Wide, Inc. (www) - Modelo de negócios: proposições de valor

Calçados de alta qualidade, orientados a desempenho em várias categorias

A partir de 2023, a Wolverine World Wide, Inc. gerou vendas líquidas totais de US $ 2,584 bilhões em várias categorias de calçados. As linhas de produtos orientadas por desempenho da empresa incluem:

Categoria	Principais marcas	2023 Contribuição de vendas
Calçados atléticos	Saucony, Merrell	US $ 712 milhões
Calçados de trabalho	Wolverine, lagarta	US $ 658 milhões
Calçados de estilo de vida	Sperry, filhotes de cachorro	US $ 514 milhões

Portfólio de marcas diversas atendendo a diferentes necessidades de consumidores

Wolverine World Wide mantém um portfólio estratégico de marcas direcionados a vários segmentos de consumidores:

• Consumidores orientados para o desempenho: Saucony, Merrell
• Profissionais de trabalho e industrial: Wolverine, Caterpillar
• Consumidores casuais e de estilo de vida: Sperry, Hush Puppies
• Entusiastas do ar livre: Merrell, Wolverine

Design e tecnologia inovadores em calçados atléticos e ao ar livre

A empresa investiu US $ 78,4 milhões em pesquisa e desenvolvimento em 2023, focando em tecnologias inovadoras como:

• Sistemas de amortecimento adaptativo
• Materiais que ganham umidade
• Tecnologias de desempenho leves

Produtos confortáveis ​​e elegantes para vários segmentos de estilo de vida

O segmento de estilo de vida de Wolverine World Wide gerou receita de US $ 514 milhões em 2023, com foco principal em:

Segmento de estilo de vida	Principais recursos	Consumidor -alvo
Calçados casuais	Design orientado a conforto	Profissionais urbanos
Estilo de vida ao ar livre	Desempenho versátil	Entusiastas da aventura
Estilos clássicos	Estética atemporal	Consumidores conscientes da moda

Desenvolvimento sustentável e ambientalmente consciente do produto

Em 2023, Wolverine World Wide Commitido US $ 12,5 milhões para iniciativas de sustentabilidade, incluindo:

• Uso de material reciclado
• Fabricação de pegada de carbono reduzida
• Embalagens ecológicas

Wolverine World Wide, Inc. (www) - Modelo de negócios: relacionamentos com o cliente

Engajamento digital personalizado por meio de plataformas específicas da marca

Wolverine World Wide mantém plataformas digitais para marcas -chave, incluindo Merrell, Saucony, Hush Puppies e Wolverine. Métricas de engajamento digital no quarto trimestre 2023:

Marca	Visitantes do site	Downloads de aplicativos móveis	Duração média da sessão
Merrell	3,2 milhões mensais	750,000	4,7 minutos
Saucony	2,8 milhões de mensais	620,000	3,9 minutos

Programas de fidelidade em diferentes portfólios de marcas

Wolverine World Wide implementa programas de fidelidade de várias marcas com as seguintes características:

• Merrell Peak Rewards: 425.000 membros ativos
• Programa VIP de Saucony: 310.000 clientes registrados
• Gastos médios para membros do programa de fidelidade: 37% mais altos que os não membros

Mídia social ativa e interação comunitária

Estatísticas de engajamento de mídia social para 2023:

Plataforma	Seguidores	Taxa de engajamento
Instagram	1,6 milhão	3.2%
Facebook	1,2 milhão	2.7%

Feedback do cliente e melhoria contínua do produto

Métricas de feedback do cliente:

• Respostas anuais da pesquisa de clientes: 85.000
• Taxa de modificação do produto com base no feedback: 22%
• Pontuação de satisfação do cliente: 87,5%

Experiências de compras omnichannel

Distribuição de vendas omnichannel para 2023:

Canal	Porcentagem de vendas	Crescimento ano a ano
Direto ao consumidor online	38%	15.3%
Parceiros de varejo	47%	8.6%
LOJAS DE BRANCA	15%	12.7%

Wolverine World Wide, Inc. (www) - Modelo de negócios: canais

Plataformas on-line direta ao consumidor

A Wolverine World Wide opera vários sites de comércio eletrônico específicos da marca, incluindo:

• Merrell.com-gerou US $ 178,3 milhões em vendas diretas ao consumidor em 2022
• Saucony.com - plataforma on -line com aproximadamente 15% da receita total da marca
• Hush Puppies Site Oficial - Canal de vendas digital com alcance internacional

Lojas de varejo de marca

Marca	Número de lojas de varejo	Propagação geográfica
Merrell	42 lojas de marca	Estados Unidos e Canadá
Saucony	12 lojas de corrida especializadas	Selecione as principais áreas metropolitanas

Principais parcerias de lojas de departamento

Canais principais da loja de departamentos:

• Nordstrom - 187 locais de lojas que transportam marcas Wolverine
• Macy's - mais de 500 lojas com as linhas de produtos Merrell e Saucony
• Dick's Sporting Goods - Distribuição exclusiva para várias marcas de Wolverine

Esportes especializados e varejistas ao ar livre

Wolverine World Wide distribui através de canais de varejo especializados:

• REI - 174 locais carregando calçados ao ar livre Merrell
• Frota Feet Sports - 182 lojas de corrida especializadas com produtos Saucony
• Armário de Foot - 2.800 locais globais com calçados de desempenho

Mercados de comércio eletrônico

Plataforma	Volume anual de vendas	Porcentagem de receita digital
Amazon	US $ 42,6 milhões em 2022	22% das vendas digitais
Zappos	US $ 18,3 milhões em 2022	9% das vendas digitais
Outros mercados on -line	US $ 35,7 milhões em 2022	18% das vendas digitais

Wolverine World Wide, Inc. (www) - Modelo de negócios: segmentos de clientes

Entusiastas atléticos e ao ar livre

O Wolverine World Wide alvo dos consumidores atléticos por meio de marcas como Merrell e Saucony. De acordo com 2023 relatórios financeiros, o segmento de calçados ao ar livre gerou US $ 1,2 bilhão em receita.

Segmento de clientes	Gastos anuais	Quota de mercado
Entusiastas da caminhada	US $ 487 milhões	22.3%
Consumidores em execução de trilhas	US $ 315 milhões	14.5%

Consumidores de estilo de vida casual

Marcas como filhotes de cachorros -alvo de calçados casuais. O segmento de estilo de vida representou US $ 765 milhões na receita de 2023.

• Consumidores casuais urbanos: 38% do segmento
• Compradores focados em conforto: 42% do segmento
• Consumidores orientados a moda: 20% do segmento

Atletas orientados para o desempenho

As marcas Saucony e Merrell se concentram em calçados atléticos de alto desempenho. O segmento de desempenho gerou US $ 542 milhões em 2023.

Categoria atlética	Receita	Taxa de crescimento
Tênis de corrida	US $ 312 milhões	7.2%
Desempenho da trilha	US $ 230 milhões	5.8%

Compradores de calçados em busca de conforto

Marcas como Hush Puppies e Merrell se concentram na tecnologia de conforto. O segmento de conforto gerou US $ 456 milhões em 2023.

• Idade 35-55 Demografia: 65% dos compradores de conforto
• Consumidores de consciência ortopédica: 22% do segmento
• Buscadores de conforto relacionados ao trabalho: 13% do segmento

Consumidores ambientalmente conscientes

As iniciativas de calçados sustentáveis ​​geraram US $ 215 milhões em 2023, representando 6,7% da receita total da empresa.

Categoria de sustentabilidade	Receita	Porcentagem de total
Materiais reciclados	US $ 127 milhões	4.1%
Produtos neutros em carbono	US $ 88 milhões	2.6%

Wolverine World Wide, Inc. (www) - Modelo de negócios: estrutura de custos

Despesas de fabricação e produção

Para o ano fiscal de 2022, o custo total de mercadorias da Wolverine World Wide (CAGS) foi de US $ 2,16 bilhões. A quebra das despesas de fabricação da empresa inclui:

Categoria de despesa	Quantidade (em milhões)
Custos de matéria -prima	$852.4
Custos de mão -de -obra	$435.7
Manufatura de sobrecarga	$312.9

Investimentos de pesquisa e desenvolvimento

Em 2022, a Wolverine Wide Wide investiu US $ 55,2 milhões em pesquisa e desenvolvimento, representando 1,7% de sua receita total.

• Investimentos de inovação de produtos
• Integração de tecnologia
• Pesquisa em Ciência Material

Marketing e promoção de marca

As despesas de marketing de 2022 totalizaram US $ 312,6 milhões, o que é aproximadamente 9,6% da receita total.

Canal de marketing	Despesas (em milhões)
Marketing digital	$124.5
Publicidade tradicional	$88.3
Patrocínios e eventos	$99.8

Distribuição global e logística

Os custos de distribuição para 2022 foram de US $ 276,4 milhões, representando 8,5% da receita total.

• Operações de armazém
• Transporte
• Envio internacional

Aquisição de marca e gerenciamento de portfólio

Em 2022, Wolverine World Wide gastou US $ 187,3 milhões em aquisições de marcas e expansão do portfólio.

Aquisição da marca	Custo (em milhões)
Fusões e aquisições	$142.6
Integração da marca	$44.7

Wolverine World Wide, Inc. (www) - Modelo de negócios: fluxos de receita

Vendas de calçados por atacado

No ano fiscal de 2022, a Wolverine World Wide reportou vendas líquidas por atacado de US $ 2,05 bilhões. As principais marcas no segmento de atacado incluem:

• Merrell
• Saucony
• Filhotes de cachorro
• Sperry

Vendas de varejo direto ao consumidor

As receitas diretas ao consumidor para 2022 foram de US $ 681,5 milhões, representando 24,4% da receita total da empresa.

Canal	Receita (2022)	Percentagem
Lojas de varejo de propriedade da empresa	US $ 412,3 milhões	14.7%
Lojas de outlet de marca	US $ 269,2 milhões	9.7%

Receita da plataforma de comércio eletrônico

As vendas de comércio eletrônico em 2022 atingiram US $ 346,8 milhões, um crescimento de 12,4% em relação ao ano anterior.

Expansão do mercado internacional

As receitas internacionais para 2022 totalizaram US $ 792,6 milhões, representando 28,3% da receita total da empresa.

Região	Receita (2022)
América do Norte	US $ 1,84 bilhão
Mercados internacionais	US $ 792,6 milhões

Receitas de licenciamento e colaboração de marca

As receitas de licenciamento para 2022 foram de US $ 47,2 milhões, representando um fluxo de receita modesto, mas estratégico.

• Acordos de licenciamento da Merrell
• Hush Puppies International Brand Licensing
• Linhas de produtos colaborativos

Wolverine World Wide, Inc. (WWW) - Canvas Business Model: Value Propositions

You're looking at the core value Wolverine World Wide, Inc. delivers across its portfolio as of late 2025. It's about blending high-level performance with everyday relevance, backed by solid financial execution.

The Saucony brand delivers performance and lifestyle fusion. This is evident in the success of running lines like the Endorphin series and heritage-inspired models such as the ProGrid Omni 9. This fusion drives significant financial results; for the third quarter of 2025, Saucony revenue surged by a remarkable 27.0% year-over-year, reaching $133.1 million.

For the outdoor space, Merrell offers modern outdoor versatility and trail innovation. Products like the Moab 3 and the casual Jungle Moc blend trail capability with everyday wearability. Merrell contributed $167.3 million in revenue for the third quarter of 2025, marking a 5.1% increase year-over-year.

The specialized industrial segment, the Work Group, provides durable work boots and apparel under brands like Wolverine and HYTEST. While this segment is undergoing strategic shifts, it remains a core offering. For the third quarter of 2025, the Work Group segment generated $105.9 million in revenue.

Brand authenticity and cultural resonance are reinforced through targeted collaborations. This strategy is focused on city-centric markets, specifically targeting influential hubs like Tokyo, London, and Paris to strengthen global identity.

Wolverine World Wide, Inc. is projecting improved product quality alongside better financial performance. The full-year 2025 outlook forecasts a record gross margin of approximately 47.1%, which is a significant improvement of 280 basis points compared to the 2024 gross margin.

Here is a quick look at the Q3 2025 brand performance that underpins these value propositions:

Brand/Group	Value Proposition Focus	Q3 2025 Revenue (in millions)	Year-over-Year Revenue Change
Saucony	Performance and Lifestyle Fusion	$133.1	27.0% increase
Merrell	Modern Outdoor Versatility	$167.3	5.1% increase
Work Group (Segment)	Specialized Industrial Durability	$105.9	2.9% decrease

The overall financial goal for the full fiscal year 2025 reflects this focus on operational efficiency:

• Full-Year 2025 Projected Gross Margin: 47.1%
• Full-Year 2025 Projected Revenue Range: $1.855 billion to $1.870 billion
• Q3 2025 Gross Margin Achieved: 47.5%
• Q3 2025 Total Revenue: $470.3 million

The Active Group, which houses Saucony and Merrell, drove the top-line strength, reporting revenue of $352.8 million in the third quarter of 2025, a 10.7% increase.

Finance: draft 13-week cash view by Friday.

Wolverine World Wide, Inc. (WWW) - Canvas Business Model: Customer Relationships

Digital engagement and localized storytelling via the key city strategy.

Wolverine World Wide, Inc. has focused its storytelling efforts, beginning with key city initiatives in Tokyo and London, as part of its transformation strategy. The company was named 2025 Company of the Year by Footwear News, which cited dynamic partnerships that fueled cultural resonance. These partnerships in 2025 included collaborations with Jae Tips, Westside Gunn, Minted New York, Waffle House, University of Michigan, Lonely Ghost, Gramicci, Jordan Davis, Snow Peak, and Fishwife. The Saucony brand's new creative partnership with Westside Gunn is a specific example of using cultural collaborations to build brand heat. Wolverine World Wide reported Q3 2025 Total Revenue of $470.3 million, with Ongoing Total Revenue growing 6.9% year-over-year for that quarter. The full-year 2025 revenue outlook is projected to be approximately $1.855 billion to $1.870 billion.

Direct-to-Consumer (DTC) e-commerce platforms for personalized brand experience.

The strategy involves prioritizing direct-to-consumer channels across the portfolio to enhance brand experience. For the Sweaty Betty brand, Wolverine World Wide is resetting its U.S. operations to focus on a premium online DTC model. The Saucony brand specifically reported strong mid-teens growth in its e-commerce channel during the third quarter of 2025. This focus supports efforts to accelerate growth in DTC segments. The company's overall Q3 2025 results showed the Active Group revenue increasing by 10.7% reported year-over-year, which includes the DTC-focused Saucony brand.

Cultural partnerships to build community and brand heat with younger consumers.

The use of cultural partnerships is a deliberate lever in the brand-led growth strategy. The company's success in this area contributed to being named 2025 Company of the Year by Footwear News. The investment in culture is also reflected internally, as 84% of participating employees in the 2024 engagement survey reported a strong belief in the Company, which supports a higher-performing organization. The company launched its first Global Day of Purpose, resulting in nearly 1,000 hours of donated service time.

Wholesale account management for major retail partners.

Continued dependence on wholesale channels remains a noted risk factor amid retail sector consolidation. The Work Group, which includes brands with significant wholesale exposure, reported a reported segment revenue change of (2.9)% in Q3 2025, compared to a 10.7% reported increase for the Active Group in the same period. The company's gross margin for Q3 2025 was 47.5%, up from 45.1% in the prior year, partly due to lower promotional activity, which can be a factor in managing wholesale relationships.

Loyalty programs and apps (e.g., Sweaty Betty's new U.K. app).

Customer relationship building is also supported by circular economy and sustainability initiatives that resonate with consumer values. Chaco's ReChaco Program has repaired over 246,000 sandals since 2004, aligning with the trend where 68% of outdoor sector consumers prioritize sustainability in purchasing decisions (per 2025 industry surveys). Industry-wide statistics suggest that AI-powered personalization within loyalty programs can increase long-term customer value and retention by 10 to 15%. The company's Q3 2025 Adjusted Operating Margin was 9.2%.

Here's a quick look at key segment performance metrics from Q3 2025:

Segment	Reported Segment Revenue (in millions)	Year-over-Year Change
Active Group	$352.8	10.7%
Work Group	$105.9	(2.9)%
Other	$11.6	(6.5)%
Total Revenue	$470.3	6.8%

The company's inventory at the end of Q3 2025 was $293 million, down approximately 0.7% compared to the prior year.

Wolverine World Wide, Inc. (WWW) - Canvas Business Model: Channels

You're looking at how Wolverine World Wide, Inc. gets its products into the hands of customers as of late 2025. It's a multi-pronged approach, blending traditional wholesale power with direct digital engagement.

Wholesale distribution to specialty retailers and department stores globally.

The core of the physical retail presence relies on this broad network. For the third quarter ended September 27, 2025, the Active Group, which heavily utilizes this channel for brands like Merrell and Saucony, reported revenue of $352.8 million. The Work Group, covering brands like Wolverine and Cat Footwear through wholesale, posted revenue of $105.9 million for the same period. This shows the scale of the traditional distribution backbone.

Owned Direct-to-Consumer (DTC) e-commerce websites for each core brand.

The digital channel is significant, though it saw a slight pullback recently. For the second quarter ended June 2025, Direct-to-Consumer (DTC) sales were reported at $111.6 million, representing a year-over-year dip of 1.4 per cent. Wolverine World Wide, Inc. maintains these platforms to control the direct customer experience and capture full margin.

Multi-brand retail stores (owned and operated).

While the focus has shifted, Wolverine World Wide, Inc. previously operated physical stores. As of December 29, 2018, the company operated 80 retail stores in the U.S. and Canada, though recent reports emphasize the wholesale and DTC focus over owned physical stores for the current strategy.

Third-party distributors and licensees in approximately 170 countries and territories.

The global footprint is extensive, reaching far beyond owned operations. Wolverine World Wide, Inc.'s products are carried by leading retailers in approximately 170 countries and territories. This vast reach is supported by a network of third-party distributors and licensees, especially in regions like Latin America, portions of Europe and Asia Pacific, the Middle East, and Africa. International revenue for Q2 FY25 rose 15.7 per cent to reach $250 million.

Flagship stores in key global markets like London and Paris.

The company is executing a key city initiative to anchor brand presence in major global hubs. This initiative is specifically mentioned as beginning in Tokyo and London.

Here's a quick look at the channel revenue snapshot from recent reported periods:

Channel Proxy/Metric	Financial/Statistical Number	Reporting Period
Active Group Revenue (Proxy for key brand wholesale/retail)	$352.8 million	Q3 2025
Work Group Revenue (Proxy for key brand wholesale/retail)	$105.9 million	Q3 2025
Direct-to-Consumer (DTC) Sales	$111.6 million	Q2 FY25
Total Reported Revenue	$470.3 million	Q3 2025
Global Reach (Countries/Territories)	Approximately 170	As of 2025 reports
International Revenue	$250 million	Q2 FY25

The Active Group's revenue growth in Q2 FY25 was 16.2 per cent, showing strong pull-through in those key wholesale/retail channels. The DTC channel, however, saw a slight contraction of 1.4 per cent in that same quarter.

The company also relies on owned operations in the U.S., Canada, the U.K., and certain parts of continental Europe and Asia Pacific to directly control sales in strategic markets. The structure supports a diverse portfolio, including licensed brands like Harley-Davidson Footwear.

• Owned International Operations: U.S., Canada, U.K., select continental Europe, select Asia Pacific.
• Third-Party Reliance: Latin America, Middle East, Africa, and other parts of Europe/Asia Pacific.
• Key City Focus: London and Tokyo.

Finance: draft 13-week cash view by Friday.

Wolverine World Wide, Inc. (WWW) - Canvas Business Model: Customer Segments

You're looking at the specific groups Wolverine World Wide, Inc. targets with its portfolio of brands as of late 2025. The company segments its focus into distinct consumer sets, each served by specialized brand strategies.

The Active Group consumers, comprising performance runners and outdoor lifestyle enthusiasts, represent the largest revenue driver. For the third quarter ended September 27, 2025, this group generated reported segment revenue of $352.8 million, up 10.7% year-over-year. This momentum followed a first quarter 2025 Active Group revenue of $326.7 million.

Within this Active Group, specific brand performance highlights the consumer base. Saucony delivered exceptional growth in Q3 2025, with revenue increasing 27.0% to $133.1 million. Merrell posted a solid 5.1% increase to $167.3 million in the same period. The Wolverine brand, which also serves this space, saw its revenue decline by 8.2% in Q3 2025.

Next, you have the Industrial and trade workers segment, served by the Work Group. This segment showed a slight contraction in the third quarter of 2025, with reported revenue at $105.9 million, a decline of 2.9% year-over-year. This contrasts with the first quarter of 2025, where the Work Group revenue was $74.8 million, reflecting a 17.0% year-over-year decline.

Global consumers are targeted through the key city strategy, reflected in the International revenue figures. For Q3 2025, International revenue grew 13.5% to reach $242.7 million. This strong international performance contrasts with the Direct-to-Consumer channel, which declined 4.9% to $106.8 million in Q3 2025.

The Women's premium activewear consumers are addressed through the Sweaty Betty brand. While the brand is part of the overall positive narrative, its Q3 2025 revenue experienced a decline of 3.9% year-over-year. For context, Sweaty Betty reported revenue of $38.0 million in the first quarter of 2025.

Finally, Institutional investors and shareholders focus on the company's financial trajectory and return potential. The full-year 2025 outlook projects diluted earnings per share in the range of $1.08 to $1.13, with adjusted diluted earnings per share forecast between $1.29 to $1.34. The third quarter 2025 actual adjusted diluted EPS was $0.36, beating the consensus estimate of $0.33.

Here's a quick look at the segment revenue performance as of the latest reported quarter:

Customer Focus Segment Proxy	Reported Segment Revenue (Q3 2025, in millions)	Year-over-Year Change (Q3 2025)
Active Group (Performance/Outdoor)	$352.8	10.7% Increase
Work Group (Industrial/Trade)	$105.9	2.9% Decline
International (Global Consumers)	$242.7	13.5% Growth
Direct-to-Consumer (Channel)	$106.8	4.9% Decline

Investor sentiment is captured by analyst ratings and price targets. The consensus rating from 10 Wall Street analysts over the last twelve months is a Moderate Buy. The average consensus price target is $23.29, representing a forecasted upside of 33.95% from the current price of $17.38 (as of mid-November 2025).

The key drivers for these segments are reflected in the brand-level results:

• Saucony revenue growth in Q3 2025 was 27.0%.
• Merrell revenue growth in Q3 2025 was 5.1%.
• Sweaty Betty revenue declined by 3.9% in Q3 2025.
• The company expects full-year 2025 revenue between $1.855 billion and $1.870 billion.
• Full-year 2025 expected gross margin is approximately 47.1%.

Wolverine World Wide, Inc. (WWW) - Canvas Business Model: Cost Structure

You're looking at the core expenses Wolverine World Wide, Inc. faces to keep its global footwear and apparel business running as of late 2025. Honestly, for a company with brands like Merrell and Saucony, the cost structure is dominated by getting product made and getting it to the customer.

Manufacturing and sourcing costs from a global supply chain are managed through a third-party sourcing strategy. This approach lets Wolverine World Wide, Inc. benefit from lower manufacturing costs and high-quality raw materials sourced globally, while avoiding the capital expenditures of owning factories. The focus is on balancing timely shipments, quality, and competitive pricing. The company achieved a consolidated gross margin of 47.5% in the third quarter ended September 27, 2025. For the full fiscal year 2025, the expected gross margin is approximately 47.1%.

Significant Selling, General, and Administrative (SG&A) expenses, including marketing spend, are a major outflow. In the third quarter of 2025, total operating expenses rose by 12.0% to $183.6 million. Management noted that strategic reinvestment of a portion of gross margin gains supports the brand-building model, which includes marketing and talent development. The projected full-year 2025 operating margin is approximately 7.8%.

Costs associated with debt servicing have seen a favorable trend due to balance sheet strengthening. Net Debt at the end of the third quarter of 2025 stood at $543 million. This reduction from prior periods is expected to lower interest costs significantly. Interest and other expenses are projected to be approximately $27 million for the full fiscal year 2025, a notable decrease from $39 million in 2024.

Logistics and distribution costs for a global footprint are inherent to moving product from global sourcing locations to various sales channels. While specific dollar amounts aren't broken out separately from operating expenses, the focus on supply chain cost initiatives has been a key driver in margin improvement.

Investment in technology modernization and e-commerce platforms is framed within broader strategic spending. Management highlighted continued investment in key capabilities as part of the plan to drive growth and support the brand-building model.

Here's a quick look at some key cost-related metrics from the latest reported period:

Cost Component/Metric	Value (Q3 2025 or FY 2025 Projection)	Period/Context
Net Debt	$543 million	End of Q3 2025
Total Operating Expenses	$183.6 million	Q3 2025
Projected Interest Expense	$27 million	Full Year 2025 Projection
Gross Margin	47.5%	Q3 2025
Projected Full-Year Gross Margin	47.1%	FY 2025 Outlook
Projected Full-Year Operating Margin	7.8%	FY 2025 Outlook

The major cost drivers Wolverine World Wide, Inc. is managing include:

• Manufacturing costs via third-party global sourcing.
• Operating expenses, including marketing and brand investment.
• Interest expense on outstanding net debt.
• Costs embedded in logistics for global distribution.
• Capital allocation for technology and capability upgrades.

Wolverine World Wide, Inc. (WWW) - Canvas Business Model: Revenue Streams

You're looking at how Wolverine World Wide, Inc. brings in its money, which is really about how they sell their portfolio of footwear and apparel brands. The streams are pretty standard for a major brand house, but the execution on the turnaround strategy is what's driving the current numbers.

The primary revenue streams for Wolverine World Wide, Inc. are structured around moving product through different channels and agreements. The largest component is historically the wholesale sales to retail partners. This is where the bulk of the volume moves through major department stores, specialty retailers, and big-box stores globally. This channel is key to the performance of brands like Merrell and Saucony, which are driving much of the recent growth.

Next up is Direct-to-Consumer (DTC) sales via e-commerce and owned retail stores. This channel offers better margin capture, and you can see its contribution, for example, in the second quarter of 2025 when DTC sales were reported at $111.6 million, though that figure represented a slight dip of 1.4 per cent year-over-year for that period. The company is definitely focused on growing this stream for better profitability.

A third, often less visible but important, stream is licensing revenue from global agreements. This includes arrangements for things like apparel or specific product lines under certain brand names. For instance, the 'Other' segment revenue in the third quarter of 2025 was $11.6 million, and this category has historically included the Stride Rite licensed business, which is a part of this revenue type.

Here's a look at the key financial guidance and recent segment performance to give you a sense of scale for the full-year expectations:

Metric	Value / Range	Context
Total Full-Year 2025 Revenue Projection	$1.855 billion to $1.870 billion	Represents growth of 6.0% to 6.8% compared to 2024 ongoing business.
Adjusted Diluted EPS Expected for FY 2025	$1.29 to $1.34	Reflects confidence in improved profitability following the turnaround.
Q3 2025 Total Revenue	$470.3 million	Reported for the period ended September 27, 2025.
Q3 2025 Active Group Revenue	$352.8 million	Largest segment, showing a 10.7% year-over-year increase.
Q3 2025 Work Group Revenue	$105.9 million	Experienced a 2.9% year-over-year decline.

You can see the concentration of revenue in the brand segments that feed the wholesale channel. The Active Group, which houses Merrell and Saucony, is clearly the engine right now. The company is actively managing its brand mix to favor these higher-growth areas.

The revenue generation is also tied to specific brand performance, which you see reflected in the segment reporting. For instance, in Q3 2025, the revenue drivers were:

• Merrell brand revenue: $167.3 million, up 5.1%.
• Saucony brand revenue: $133.1 million, up 27.0%.
• Wolverine brand revenue: Declined 8.2%.
• Sweaty Betty brand revenue: Declined 3.9%.

The overall revenue expectation for the full year 2025 lands squarely in that $1.855 billion to $1.870 billion window. Finance: draft 13-week cash view by Friday.