Home Nike Nike Set to Sell Cole Hann & Umbro Brands

Nike Set to Sell Cole Hann & Umbro Brands

NIKE, Inc. (NYSE: NKE) today announced its intention to divest of two of its wholly-owned affiliate brands – Cole Haan and Umbro – to sharpen its focus on driving growth in the NIKE, Jordan, Converse and Hurley brands.

“We see tremendous opportunity to accelerate profitable growth around the world by continuing to deliver innovation and inspire consumers through the NIKE brand.” said Mark Parker, President & CEO of NIKE, Inc. “We also see significant potential in Jordan, Converse and Hurley, which have unique consumer relationships that complement the NIKE Brand.”*

- Advertisement -

“Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for NIKE, Inc. to continue to drive sustainable, profitable growth for our shareholders.”*

Cole Haan, which specializes in casual and dress leather footwear and bags, was acquired by NIKE, Inc. in 1988. The company is based in New York. Umbro is a football (soccer) specialist brand based in Manchester, UK, acquired by NIKE, Inc. in 2008. The process of divesting of these two businesses will begin immediately, and is expected to be complete by the end of NIKE, Inc.’s fiscal 2013 (May 31, 2013).

About NIKE, Inc.
NIKE, Inc. based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE subsidiaries include Cole Haan, which designs, markets and distributes luxury shoes, handbags, accessories and coats; Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories; and Umbro International Limited, which designs, distributes and licenses athletic and casual footwear, apparel and equipment, primarily for global football (soccer). For more information, visit www.nikeinc.com and follow @Nike.

Source: Nike, Inc.

- Advertisement -
ADVERTISMENT

Follow Us

96,667FansLike
326,738FollowersFollow
45,235FollowersFollow

Recent Stories

Related news

In-Hand Look at the Wasted Youth x Nike SB Dunk Low

Graphic designer turned streetwear mainstay Verdy and his Wasted Youth label has teamed up with Nike SB to release a special edition Dunk Low...

Nike Air Force 1 Low With Buttery Popcorn Graphics

There is nothing better than seeing a new movie with a large buttery popcorn in your lap ready to be indulged. Inspired by that...

Nike Nods To The Hello Name Tags With This Air Force 1

Nike Sportswear is nodding to the iconic "Hello, my name is" name tags with this latest Air Force 1 Low. Dressed in a White, University...

Nike Dunk High “All-Star” Release Pushed Back

The Nike Dunk High “All-Star” is part of Nike’s and Jordan Brand’s All-Star 2021 collection celebrating the 2021 NBA All-Star Weekend held in Indianapolis,...