Weyco Group

Weyco Group
Public
Traded as NASDAQ: WEYS
Industry Footware
Founded 1892
Headquarters Glendale, Wisconsin
Revenue Increase US$$320.5 million (2014)[1]
Increase US$19.8 million (2014)[1]
Number of employees
 640
Website www.weycogroup.com

Weyco Group (formerly Weyenberg Shoe Manufacturing Company or W. R. P. Shoe Company) is a footwear company that designs, markets and distributes brand names including Florsheim, Nunn Bush, Stacy Adams, BOGS, Rafters and Umi. The company, which focuses on North American wholesale and retail distribution, has been assembled by a series of acquisitions.

History

In 1964, after an estrangement with his father Harold Florsheim, Thomas Florsheim, Sr. left the Florsheim Shoe Company and invested $750,000 in the Weyenberg Shoe Manufacturing Company, becoming partners with Frank Weyenberg.[2] They acquired Nunn Bush and Stacy Adams, while developing the new Brass Boot line in Europe.[2] When the Florsheim Group filed for Chapter 11 bankruptcy in 2002, Weyco purchased some of the company's assets.[3] Weyco acquired Umi in 2010,[4] and in 2011 it acquired The Combs Company and its BOGS and Rafters footwear brands.[5] Weyco is led by Thomas Florsheim, Jr. (the great-grandson of Florsheim Shoe Company founder Milton Florsheim).[3][2]

Current business

The company focuses on two business segments in North America: wholesale and retail. The business entails mid-priced leather dress shoes; synthetic and leather casual footwear; outdoor boots, shoes, and sandals. Its wholesale customers are footwear, department, and specialty stores primarily in the United States and Canada. As of June 2015, it had 16 company-owned retail stores in the United States in addition to an internet business.[6] For 2014, the company posted overall net sales of $320.5 million of which $243.4 million came from wholesale in North America and $23.3 million from North American retail.[1]

Notes

  1. 1 2 3 "Weyco Reports Fourth Quarter and Full Year 2014 Results" (PDF). Weyco. 2015-03-02. Retrieved 2015-06-12.
  2. 1 2 3 Stodhill, Ron (2007-06-24). "The Florsheims, Back in Their Own Shoes". The New York Times. Retrieved 2015-06-15.
  3. 1 2 Chandler, Susan (2002-03-05). "Florsheim files for Chapter 11 protection". Chicago Tribune. Retrieved 2015-06-13.
  4. ↑ Barrett, Rick (2015-05-21). "Umi steps up sales of its children's shoes overseas". Milwaukee Journal Sentinel. Retrieved 2015-06-15.
  5. ↑ "Weyco Group, Inc. Acquires The Combs Company". PR Newswire. 2011-03-02. Retrieved 2015-06-15.
  6. ↑ "Company Overview of Weyco Group Inc.". Bloomberg Business. Retrieved 2015-06-13.
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