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SBD/October 24, 2012/Finance
Nike To Sell Umbro For $225M To Iconix Brand Group By Year's End
Published October 24, 2012
STILL KICKIN' IT: In N.Y., Michael de la Merced writes selling Umbro “will not leave the company without a presence in the global soccer market: it still sells the Nike Football line of gear” (NYTIMES.com, 10/24). The WALL STREET JOURNAL’s Shelly Banjo reports Iconix “owns or licenses more than two dozen brands,” including Ed Hardy and Candies, and “had bought Starter from Nike in 2007.” Nike over the past few years has been “unloading its smaller brands to focus on its namesake and Jordan brands” (WSJ.com, 10/24).
STILL A BUYER: Nike yesterday indicated that it “made a minority investment in LLamasoft Inc., a Michigan software company that makes supply chain and transportation design software.” In Portland, Erik Siemers noted the companies will “work together to co-develop products capable of making Nike's global supply chain operations more efficient and environmentally sustainable.” The terms of Nike's investment were not disclosed (BIZJOURNALS.com, 10/23).