Wolverine Word Wide Inc. announced on Wednesday plans to move its Sweaty Brand brand to its London-based international group, which is responsible for the company’s operations outside the United States, in addition to revealing job cuts within its UK workforce, as it looks for a new CEO.
The British activewear brand, which Wolverine acquired in August 2021, will now be overseen by the company’s international group president, Isabel Soriano.
“Bringing Sweaty Betty under Isabel Soriano and the international group fits perfectly with our strategy to prioritize resources and support to the brands with the biggest global growth opportunities,” said Brendan Hoffman, Wolverine Worldwide’s president and chief executive officer.
“Our regional teams have deep commercial experience in key international markets and are well-positioned to bring their sourcing, logistics, technology, and operational expertise to help accelerate Sweaty Betty’s growth.”
As part of the brand’s streamlining, the U.S.-based company said it will also be consolidating its London office space and proposing a UK workforce reduction.
Likewise, Julia Straus, CEO of Sweaty Betty, will be leaving the business in June 2023 and returning to the United States to be closer to family. A search for her successor is already underway, said the brand.
“I am excited about the future opportunities for Sweaty Betty, leveraging the full resources and expertise of our global team to support and enable the brand’s mission to empower women around the world through fitness and beyond,” said Soriano. “I look forward to partnering with Julia as we work through this transition over the coming months.”