Nike Agrees To Sell Cole Haan For $570 Million
News broke out a few months ago that Nike has dropped Cole Haan and Umbro. Fast forward a few months later, Nike sold Cole Haan to APAX Partners for $570 million. Nike has its reasons for letting go of Cole Haan. Mark Parker, CEO and President of Nike, said “The decision to divest of Cole Haan allows us to sharpen our focus on opportunities with the highest potential for strong returns, and to make sure the brands within the NIKE, Inc. portfolio are the most complementary to the NIKE Brand,”.
How do you feel about Nike dropping Cole Haan? Will letting go of Cole Haan really help Nike focus on other projects? Let us know how you feel in the comment section below.
I mean if Nike is saying that its gonna allow them to focus better on the other brands under Nike, and this is coming from Nike itself then yeah its true. I think Nike is also doing Cole Haan a favor and letting them go somewhere that maybe they will be the focus and can really be the “star” so to say of the company and expand and grow Cole Haan to its full potential. Take it to levels that Nike wasnt able to, due to having so many other brands under Nike that need the attention.
I think its a win/win situation for both Nike and Cole Haan
$570M. Not bad at all. I wonder if the rumor is true about Nike getting rid of Cole Haan to buy Under Armour?
wow under armor!? Thats a HUGE step up from Haan Cole
That’s a lot of money. Good for them. I had no idea that Nike bought them 1988.
If that’s true G Roc, Nike will truly be unstoppable. They already are but getting UA would be major.
does anyone know if nike will allow them to still use lunar on the wingtips? i thought that was a clever idea.
I don’t know if I believe the Nike buying UA rumor. Sounds to good to be true. If that happen they would not have any competition left. None!
@Jay – “If that happen they would not have any competition left. None!”
Isn’t that the point though?
If it means they are gonna start makin real shoes again and not fusions, then its a great idea. Putting air max 360 technology on a shoe doesnt make it new. If nike gets its creativity back, i love this decision. Otherwise, its for not.
That would be a major POWER move if NIKE bought out UA. Great business decision! That is like COKE buying PEPSI. If you own the competition you make a profit both ways.
I strongly doubt that Nike is ‘attempting’ to but under armour. People forget, UA has a full money making engineer and developement brand. Not just fashion but innovative in apparel and gear. UA scooped all of Nike olds schools and former athletes anyway, it would be a weird homecoming for lots of people. (Ray Lewis, Maryland U, Vernon Davis, and basically most if not everybody MD affiliated {except MELO of course})