Stride Rite Corporation
| Company type | Subsidiary |
|---|---|
| Industry | Footwear |
| Predecessor | Green Shoe Manufacturing Company |
| Founded | January 1, 1919 in Boston, Massachusetts, U.S. |
| Founder | Thomas LaLonde, Jacob A. Slosberg, Philip Green |
| Headquarters | Lexington, Massachusetts , United States |
Area served | International |
Key people | Arnold Hiatt (former president and chairman) |
| Products | Children's footwear |
| Parent | Wolverine World Wide |
stride rite (presented in all lowercase), previously known as the Stride Rite Corporation, is a U.S.-based company specializing in children's footwear. Its products are distributed internationally through the brand licensee Vida Shoes International.
Origins and initial development
Established in 1919 in Boston, Massachusetts, the company began as the Green Shoe Manufacturing Company, founded by Thomas LaLonde, Jacob A. Slosberg, and Philip Green. Twelve years later, LaLonde—who owned the Stride Rite trademark—and Green sold their shares to Slosberg. Subsequently, Slosberg’s sons, Samuel and Charles, took charge of sales and production. The company went public in 1960, entering the New York Stock Exchange.
In 1966, the firm changed its name to Stride Rite Corporation to emphasize its leading product brand, which had been acquired from LaLonde in 1933.
Arnold Hiatt assumed the presidency in 1968 when annual revenues reached $35 million. Hiatt prioritized acquisitions to better match shifting consumer demands.
Growth through acquisitions
The first Stride Rite retail outlet was launched in 1972. In 1979, it purchased the Sperry Top-Sider and Keds brands from Uniroyal. The company continued expanding by acquiring Toddler University in 1994. Later acquisitions included Saucony in 2005 and Robeez in 2006.
During Arnold Hiatt’s tenure, Stride Rite embraced socially responsible initiatives such as opening an on-site daycare center in 1971 and a Senior Day Care facility for employees’ parents, instituting a smoking ban in 1986, and sponsoring 40 underprivileged youth to attend Harvard University. Hiatt resigned as chairman in 1992 to dedicate himself to philanthropic causes and electoral reform.
Collective Brands era
In 2007, Topeka-based Payless ShoeSource acquired Stride Rite for around $800 million. On August 16 of that year, the company was renamed Collective Brands, Inc. By 2009, Stride Rite operated under the name Collective Brands Performance + Lifestyle Group.
Acquisition by Wolverine World Wide
On May 1, 2012, Stride Rite along with Keds, Sperry Top-Sider, and Saucony became part of Wolverine World Wide following Wolverine World Wide’s $1.23 billion purchase of Collective Brands’ Performance Lifestyle Group, executed in partnership with Blum Capital Partners and Golden Gate Capital.
Stride Rite retail locations
Stride Rite stores are mainly situated within prominent regional shopping malls across major U.S. markets. As of 2012, the retail division managed 340 outlets comprising 231 children’s specialty stores, 102 outlet locations, and 7 leased departments inside Macy's.