Nike (headquarters: Oregon, USA; NYSE:NKE) announced on November 16, 2012, that it had signed an agreement to sell its Cole Haan subsidiary to investment firm Apax Partners for $570 million (approximately 46 billion yen). The transaction is expected to close by early 2013. Nike President and CEO Mark Parker stated, "This decision allows us to focus on the most profitable business opportunities and maximize the complementary relationships our other brands currently possess to build the Nike brand." Nike announced the sale of Umbro and Cole Haan on May 31, 2012. On October 24, it announced the sale of Umbro to Iconix Brand Group for $225 million. The transaction is expected to close by the end of 2012. With the sale of these two brands, Nike will focus on managing Nike and its subsidiaries, Jordan, Converse, and Hurley.
Apax is one of the world's leading investment firms. For over 30 years, it has invested across a wide range of business sectors around the world. The firm advises funds with assets of over $35 billion worldwide. In 2006, it acquired Tommy Hilfiger for $1.2 billion and sold it to American apparel company Phillips-Van Heusen for $2.2 billion in 2010.
Apax also welcomes Jack Boys, known as Converse's CEO for growing the brand's sales from $150 million to over $1 billion and rapidly growing it into a lifestyle brand, as its partner. Alex Pellegrini, a partner in Apax's retail and consumer goods team, said of the announcement, "We are excited to work with Jack Boyes to grow the Cole Haan brand in the U.S. and around the world. Cole Haan is a brand recognized by a wide range of consumers and we believe it has significant growth opportunities in the future."
Cole Haan is an American shoe brand founded in 1928. It operates 108 stores in the U.S. and 68 stores in Canada, China, and Japan. Nike acquired it as a wholly owned subsidiary in 1988. Cole Haan has developed shoes that combine Nike's Air soles with Cole Haan's classic leather shoes. The Lunar Grant, featuring a Lunarlon sole, released this spring, has been a huge hit, with many models selling out, along with a wingtip design in collaboration with Hiroshi Fujiwara's Fragment Design.
Apax is one of the world's leading investment firms. For over 30 years, it has invested across a wide range of business sectors around the world. The firm advises funds with assets of over $35 billion worldwide. In 2006, it acquired Tommy Hilfiger for $1.2 billion and sold it to American apparel company Phillips-Van Heusen for $2.2 billion in 2010.
Apax also welcomes Jack Boys, known as Converse's CEO for growing the brand's sales from $150 million to over $1 billion and rapidly growing it into a lifestyle brand, as its partner. Alex Pellegrini, a partner in Apax's retail and consumer goods team, said of the announcement, "We are excited to work with Jack Boyes to grow the Cole Haan brand in the U.S. and around the world. Cole Haan is a brand recognized by a wide range of consumers and we believe it has significant growth opportunities in the future."
Cole Haan is an American shoe brand founded in 1928. It operates 108 stores in the U.S. and 68 stores in Canada, China, and Japan. Nike acquired it as a wholly owned subsidiary in 1988. Cole Haan has developed shoes that combine Nike's Air soles with Cole Haan's classic leather shoes. The Lunar Grant, featuring a Lunarlon sole, released this spring, has been a huge hit, with many models selling out, along with a wingtip design in collaboration with Hiroshi Fujiwara's Fragment Design.
![[Tokyo Collection 2013 Spring/Summer] Etvous Bonnege confesses that she wants to melt away](https://wrqc9vvfhu8e.global.ssl.fastly.net/api/image/crop/380x380/images/migration/2012/12/5c4aa8de4d34f9db881e1f8a2a631ec1.jpg)
![[Tokyo Collection 2013 Spring/Summer] "Emomonakia" expresses the boundary between playfulness and elegance, using 80s idols as icons](https://wrqc9vvfhu8e.global.ssl.fastly.net/api/image/crop/380x380/images/migration/2012/12/dfdc1023b3be18834f02c5d3058a0c34.jpg)
