Menu
Finance

Nike Finalizing $500M Sale Of Cole Haan To Equity Firm Apax Partners

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 CEO 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 noted 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). In London, David Gelles noted that Nike bought Cole Haan for about $90M in '88. During that time it has made the brand "one of the best known" American shoe names. However, in recent years customers have "begun to complain on shopping websites about its deteriorating quality." The company’s "diminished reputation will pose a test for Apax, which will have to restore the brand to its previous lustre while also squeezing out a profit and finding new efficiencies." Cole Haan generated $535M in revenues last fiscal year (FINANCIAL TIMES, 11/5).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2012/11/07/Finance/Cole-Haan.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2012/11/07/Finance/Cole-Haan.aspx

CLOSE