Green Shoe Manufacturing Co. - Known as the Stride Rite Corporation - Specimen Stock Certificate

Specimen Stock printed by American Bank Note Company.

Founded in Boston, Massachusetts, in 1919, the Green Shoe Manufacturing Company was established by Thomas LaLonde, Jacob A. Slosberg, and Philip Green. The company quickly gained a reputation for producing high-quality and sturdy footwear, particularly children’s shoes. By the 1930s, Philip Green and LaLonde had sold their shares, and the Slosberg family assumed full control. Under their leadership, the company expanded its product line to include shoes for infants and toddlers.

In 1960, Green Shoe went public and was listed on the New York Stock Exchange. Its growing success led to acquisitions, including the Weber Shoe Company, a prominent manufacturer of children’s shoes, in 1962.

In 1966, the company underwent a name change to Stride Rite Corporation. This name change was made to highlight its most successful product line, Stride Rite, which had been launched in 1940. Under the new name, Stride Rite continued to thrive and expand through acquisitions, including popular brands like Sperry Top-Sider and Keds in 1979.

For decades, Stride Rite remained a dominant force in the children’s footwear market. Its original name also found its way into financial jargon. “Greenshoe� is the term used to describe an overallotment option employed to stabilize the price of a stock after an initial public offering (IPO), a practice pioneered by Green Shoe Manufacturing.

In 2007, Stride Rite and its associated brands were acquired by Collective Brands. Later, in 2012, Wolverine World Wide acquired Stride Rite.