Stride Rite

Situation:

  • Great brands in decline
  • Weak personal accountability and profit focus

Businesses challenged:

  • Stride Rite – wholesale focus and accounting
  • Sperry Top-Sider – price oriented
  • Keds – older customer base and one shoe
  • Tommy Hilfiger Shoe License – unprofitable, management and brand issues

Solution:

  • Metrics and personal accountability introduced
  • Stride Rite
    • Retail focus, accounting and management
    • Greatly expanded store base
    • Repositioned brand – “Life’s waiting. Let’s go!”
    • Bought Robeez – premier prewalker brand
  • Sperry Top-Sider
    • Repositioned as premium performance and casual water brand; built woman’s business
  • Tommy Hilfiger
    • Reworked approach and team; focused on shoe chains
  • Saucony
    • Bought and successfully integrated back-end (savings) while growing market share and sales

Result:

  • In November 2000, when David Chamberlain became CEO, the stock was below $7; the company was acquired in July 2007 for over $20