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Apax Partners to buy Nike's Cole Haan brand in USD570m deal  Join our daily free Newsletter

MENAFN - 18/11/2012

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(MENAFN) Nike Inc. stated that it would sell its Cole Haan brand for USD570 million to Apax Partners in a move aimed at slashing costs, reported AP.

The consumer product manufacturer announced in October that it was also selling Umbro soccer jersey brand to clothing licensing company Iconix Brand Group Inc. for USD225 million.

The Beaverton, Oregon-based company, which wants to focus on its namesake brand, Jordan, Converse and Hurley, has faced growing costs for packaging, fuel and other raw materials.

Nike bought Cole Haan in 1998 for USD95 million, whereas the acquisition of Umbro took place in 2008, in a USD582 million deal.

 






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