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Nike Sells Cole Haan for $570 Million
11/16/2012 05:07 PM ET  

Nike says it wants to focus on products which most complement the Nike brand.

Nike Incorporated has announced the sale of it's Cole Haan brand to private equity investment group Apax Partners for $570 million dollars.

In May, Nike, which makes athletic footwear and other sports-related gear, announced its intention to divest its Umbro soccer brand and Cole Haan, which is known for upscale leather goods.

Nike said it wants to focus on products which most complement the Nike brand. The sale of Umbro to Iconix was announced in October.

A partner in Apax's Retail and Consumer Team says the company is excited to grow the Cole Haan brand in the U.S. and internationally.

This story was written by Ed Morin.





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