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SBD/Issue 47/Sponsorships, Advertising & Marketing
Just Sell It: Nike Sells Starter To Iconix Brand Group
Published November 15, 2007
Nike has reached an agreement to sell its Starter brand to N.Y.-based Iconix Brand Group for $60M in cash, and Nike expects the deal to be completed in December. Nike acquired Starter in '04 for $43M but decided to sell it following a review of its Exeter Brands Group subsidiary, of which Starter is the focal business. Nike said it decided to divest Starter because of the brand's growth potential in relation to Nike's other brands, including Converse, Nike Golf, Cole Haan and Hurley. Nike also plans to explore a sale of its Nike Bauer Hockey unit (THE DAILY).
