Sources: VF Selling Sports Group To Fanatics Angels P Talks Committing Future Earnings To Fantex MJ's Son Partners With Tech Startup WaitTime LeBron Not Worried About Nike Q3 Results Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Nike Remains Top Provider For Tourney Teams Michigan Gets Regular Jordan Jerseys Back UNC Football's Move To Jordan Could Pay Off Dodgers Owner Leads $100M DraftKings Investment
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).