First Data Lands Rights To Mets' Fla. Complex Monster Won't Change NASCAR Model Outfits FS1 Canceling "Fox Sports Live," Won't Keep Hosts Lakers Adjusting To Life Under Magic Regime SBJ/SBD's 2017 Thought Leaders Retreat Sources: FS1 Not Renewing "Garbage Time" NHL Signs PPG For New Leaguewide Category San Diego State Expects Benefits From Fox 49ers' Paraag Marathe Opens Up About Role Clark Calls MLB Rule Change Discussions "Ongoing"
SBD/November 6, 2012/FinancePrint All
Nike is in “final negotiations to sell its Cole Haan handbag and shoe brand to private equity firm Apax Partners, in a deal that could fetch around $500 million,” according to sources cited by Kim & Oran of REUTERS. Sources said that London-based Apax has “teamed up with former Converse Chief Executive Jack Boys to help run Cole Haan after a takeover.” Nike in May said that it was “looking to sell Cole Haan and soccer gear unit Umbro and announced a $225 million deal last month to sell Umbro to Iconix Brand Group” (REUTERS, 11/5). USA TODAY’s Peter Lattman notes among Cole Haan’s “best-selling lines are its Maria Sharapova signature ballet flats,” which Sharapova “helped design.” It was unclear “whether an independent Cole Haan would continue to use Nike’s air-cushion technology.” But if it did, Cole Haan “would probably have to pay its former parent a licensing fee” (USA TODAY, 11/6).