Sperry Top-Sider

Last updated
Sperry
Company type Subsidiary
NYSE:  WWW
Industry Footwear
Sportswear
Sports equipment
Founded1935;89 years ago (1935)
Founder Paul A. Sperry
Headquarters Waltham, Massachusetts, United States
Area served
Worldwide
Key people
Tom Kennedy, Brand President
Blake Kruger, CEO of Wolverine World Wide
Products Boating shoes
Apparel
Parent Authentic Brands Group
Website sperry.com

Sperry or Sperry Top-Sider is an American brand of boat shoe designed in 1935 by Paul A. Sperry. Sperrys, or Top-Siders, were the first boat shoes introduced into the boating and footwear markets. Until January 2024, the Sperry brand was owned by Wolverine World Wide and headquartered in Waltham, Massachusetts. It is currently owned by Authentic Brands Group, with the North America operations licensed to Aldo group. [1]

Contents

History

Sperry's 1937 patent application for what became a new category of footwear, the boat shoe. Sperry 1937.tif
Sperry's 1937 patent application for what became a new category of footwear, the boat shoe.

While sailing on the Long Island Sound, inventor and sailor Paul A. Sperry slipped on the deck of his boat and fell overboard. He was able to pull himself back on board, but the experience drove him to develop a non-slip shoe for boating. While experimenting, he noticed his cocker spaniel's ability to run down an icy hill without slipping. Examining its paws, he noticed traction-enhancing grooves, which he sought to mimic by cutting a pattern of them into a natural rubber sole utilizing a process known as siping. [2] [3]

The Sperry "Top-Sider" boat shoe that was introduced in 1935 [2] [4] featured a canvas upper, herringbone siping, and a white outsole to prevent the shoe from leaving dark scuff marks on a boat's deck. The Commonwealth Shoe and Leather Co. later partnered with Sperry on a design using specially tanned water-resistant leather, which became the familiar Sperry "boat shoe". [2] Sperry's shoes remained a niche product for boaters until 1939 when the US Navy negotiated the right to manufacture the shoe for its sailors at the United States Naval Academy. As a result of this increased production, Sperry sold the brand to the US Rubber Co. in 1940. [2] In 1979 the Stride Rite Corporation purchased both Sperry and Keds from US Rubber. [5] In 2007, Payless ShoeSource acquired Sperry Top-Sider as part of a multi-brand acquisition. The company was purchased, along with the other brands from the Collective Brands Performance and Lifestyle Group portfolio, in 2012 by Wolverine World Wide and Blum Capital Partners for US$1.23 billion. [6]

A pair of Sperry "Authentic Original" boat shoes Sperry.jpg
A pair of Sperry "Authentic Original" boat shoes

In 2009, Footwear News named Sperry Top-Sider the Brand of the Year. [7]

In early 2015, Sperry announced that the brand had dropped the defining trait "Top-Sider" name from the company as part of the footwear company's new brand campaign. [8] Since 2021, Sperry has opened 2 specialty stores and 40 outlet stores across the United States. [9]

In May 2023, Wolverine World Wide announced the search for "strategic alternatives" for the Sperry brand, as part of a broader move to focus on growth sectors. [10]

In January 2024, Wolverine World Wide announced the sale of Sperry to Authentic Brands Group who in tern is licensing the brand to the Aldo Group for North American operations. [1] Sperry's year-on-year sales for the quarter ending September 30th had fallen 41.4%. The sale to Authentic Brands Group generated proceeds of around $130 million. The Aldo Group plans to open 23 Sperry stores in the North American market. [11]

Sponsorships

US Sailing Team Sperry

US Sailing Team Sperry athletes ahead of the 2015 470 World Championships Sailors Annie Haeger and Briana Provancha in Haifa.jpg
US Sailing Team Sperry athletes ahead of the 2015 470 World Championships

Sperry is the official footwear sponsor of the US Sailing Team Sperry, [12] the US Junior Olympic Sailing Team and the US Paralympics Sailing Team.

America's Cup

In 1987, Sperry Top-Sider served as the official sponsor of the America's Cup World Series. Sperry shoes were worn by champion sailor Dennis Conner during the race. Sperry served as the footwear sponsor for the America's Cup sailing tournament for several years, but later began to sponsor other sailing events. [13]

In 2015, Sperry became the official footwear partner of the 35th America's Cup and the official footwear supplier for Oracle Team USA. [14]

In 2016, Sperry also became the official footwear supplier of SoftBank Team Japan. Through their America's Cup partnership, Sperry announced that they would collaborate with athletes to create custom footwear to wear during the competition. [15]

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References

  1. 1 2 Fonrouge, Gabrielle (2024-01-11). "Wolverine World Wide sells Sperry to Authentic Brands Group in shoe retail deal". CNBC. Retrieved 2024-01-11.
  2. 1 2 3 4 Monagan, Charles A. (2006). Connecticut Icons: 50 Symbols of the Nutmeg State. Guilford, Connecticut: Globe Pequot Press. ISBN   978-0-7627-3548-8.
  3. ↑ Kleinfield, N. R. (1986-03-23). "SAILING TO THE TOP". The New York Times . ISSN   0362-4331 . Retrieved 2023-01-24.
  4. ↑ Eschner, Kat. "The Story of the Sperry Top-Sider". Smithsonian Magazine. Retrieved 2022-05-07.
  5. ↑ "Stride Rite Corp Facts, information, pictures | Encyclopedia.com articles about Stride Rite Corp". www.encyclopedia.com. Retrieved 2015-12-22.
  6. ↑ "Wolverine Worldwide To Complete Acquisition Of Collective Brands' Performance + Lifestyle Group". www.prnewswire.com. Retrieved 2015-12-22.
  7. ↑ Ernst Beaudry, Jennifer (November 30, 2009). "Brand of the Year: Sperry Top-Sider" . Retrieved February 12, 2012.
  8. ↑ "Sperry Prez Rick Blackshaw Talks New Brand Identity". Footwear News. 2015-02-19. Retrieved 2015-10-13.
  9. ↑ "Find a Store | Sperry". www.sperry.com. Retrieved 2015-12-21.
  10. ↑ Ewen, Laura (May 12, 2023). "Wolverine is 'exploring strategic alternatives' for Sperry". Retail Dive. Retrieved 2024-01-11.
  11. ↑ Palmieri, Jean (2024-01-11). "Authentic Brands Group Acquires Sperry". Yahoo Life. Retrieved 2024-01-11.
  12. ↑ Potkewitz, Hilary (10 May 2016). "San Diego Sailor Trains for His First Olympics". Wall Street Journal . Retrieved 22 May 2016.
  13. ↑ Jane, Adam (December 12, 2016). "The Complete Nautical History Of Sperry!". Sneaker Freaker . Retrieved 2023-10-09.
  14. ↑ Bell, Jennie (October 28, 2016). "Oracle Team USA Gears Up for America's Cup With Help From Sperry". Footwear News. Archived from the original on June 12, 2021. Retrieved May 26, 2022.
  15. ↑ Schneider-Levy, Barbara (2016-02-19). "Sperry Official Footwear Of SoftBank Team Japan for 35th America's Cup". Footwear News. Retrieved 2016-12-08.
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