Wolverine World Wide SWOT & PESTLE Analysis
COMPANY PROFILE -Wolverine World Wide
Business Sector :Apparel
Operating Geography :United States, North America, Global
About Wolverine World Wide :
Wolverine World Wide Inc is an American footwear manufacturer headquartered in Rockford, US. It was founded in 1883 and is famous for its own brand Wolverine Boots and Shoes. It is a leading designer, marketer and licensor of a broad range of quality casual footwear and apparel. Its offerings also include performance outdoor, athletic footwear and apparel, kids’ footwear, industrial work boots and apparel and uniform shoes and boots. The company was founded in order to create good products for good people and now has expanded to approximately 170 countries and territories worldwide. With the global expansion and huge infrastructure Wolverine Worldwide has expanded its portfolio to include multiple brands like bates, Chaco, Hush Puppies, Sperry etc. The brands portfolio is organized into 2 operating segments: Wolverine Michigan Group and Wolverine Boston Group. The company employs around 4000 people at the start of 2020 and considers its employee relations to be good.The company holds itself responsible to highest standards of human and environmental health and safety. The company’s contemporary styled products with proprietary technologies which are designed to provide maximum comfort and performance remain its USP. The company’s vision reads “To build a family of the most admired performance and lifestyle brand on earth.”
Wolverine World Wide Revenue :
US$ 2.27 billion – FY ending 28th Dec, 2019 (year-on-year growth of 2.3%)
US$ 2.23 billion – FY ending 29th Dec, 2018
Competitive Analysis of Wolverine World Wide
| Strengths | Weaknesses |
| 1. Strong portfolio of performance and lifestyle brands. 2. Broad distribution base for domestic sales 3. Successful international operations and global licensing 4. Strong financial performance over years. | 1. No long-term contract with wholesale customers 2. Embroiled in major water contamination lawsuit |
| Opportunities | Threats |
| 1. Increasing athletic wear craze among the health-conscious consumers 2. Growth in global footwear market 3. Leveraging data and digital technologies to optimize business decision making 4. Growing demand for eco-friendly apparels by consumers | 1. Global footwear industry – an increasingly competitive business 2. Business and operations to be impacted by COVID-19 outbreak |
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Detailed SWOT Analysis of Wolverine World Wide
Strength
1. Strong portfolio of performance and lifestyle brands: Wolverine World wide maintains an industry leading portfolio of performance and lifestyle brands. These brands enjoy over 1000 years of combined brand heritage. The brand portfolio is divided into 2 groups. The Michigan group contains brands like Merell, CAT, Wolverine, Chaco, Sperry etc. The Michigan Group includes 5 brands which sell into Work Category which is approximately 20% of the global revenues. The Boston Group consists famous brands like Sperry, Saucony, Keds etc. All the brands consist of multiple products in each and enjoy a great recognition from the customers and have been consistently performing well. Merrell, Sperry and Wolverine are the market leaders in terms of market share in Hike, Boat and Work category respectively. The leading brands also are category leaders in other fields like winter/rain boots, military, trail running, etc.
2. Broad distribution base for domestic sales:Wolverine World Wide uses various means for sales in domestic distribution channels. It has a dedicated sales force team, third party sales representatives and point-of-purchase materials to support domestic sales. It also offers its products through service department stores, national chains, specialty retailers, catalog retailers and uniform outlets. Using volume direct programs to ship products to retail consumers, helps the company to provide products at competitive prices to major retail, catalog, mass merchant and government customers. The company owns distribution to over 4000 customers in 13 countries mainly in Western Europe and over 300 independent distributors across EMEA, Asia Pacific and Latin America. It also uses its own direct to consumer business through brick and mortar retail stores and eCommerce sites which accounted for 15% of revenue in 2019. Having such a broad distribution sales mix insulates the company from heavy dependence on any one client. The company also ensured that no single customer accounted for more than 10% of the company’s consolidated revenue in fiscal year 2019, 2018 or 2017.
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Weakness
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Opportunity
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Threats
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Major Competitors :
- Timberland
- Red Wing Shoes
- Amer Sports
- Columbia Sportswear Company
- ALDO
- Under Armour
Major Brands :
- Bates
- Cat Footwear
- Chaco
- Harley-Davidson Footwear
- Hush Puppies
- HYTEST
- Keds
- Merrell
- Sperry
- Saucony
- Stride Rite
- Wolverine
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Wolverine World Wide Analysis Report
1. 2019 Annual Report -
https://wolverineworldwide.gcs-web.com/static-files/f6d96a79-44cf-4da1-bdfd-f9c9abe5a777
2. Your Shoes May Cost More, Thanks To The U.S.-China Trade War -
https://www.wbur.org/bostonomix/2019/05/15/trump-tariffs-footwear-shoe-prices
3. What's driving retail's sneaker obsession? -
https://www.retaildive.com/news/whats-driving-retails-sneaker-obsession/518625/
4. Leading Sport Innovation Globally -
https://epsi.eu/wp-content/uploads/2017/08/EPSI-Strategic-Agenda-web.pdf
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SWOT & PESTLE.com (2021). Wolverine World Wide SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/wolverine-world-wide/ [Accessed 20 Jan, 2021].
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Wolverine World Wide SWOT & PESTLE analysis has been conducted by Sushree Lasyamayee and reviewed by senior analysts from Barakaat Consulting.
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