NIKE, Inc. Announces Sale of Umbro to Iconix Brand Group
BEAVERTON, Ore. -- October 24, 2012
NIKE, Inc. (NYSE:NKE) today announced that it has reached a definitive
agreement to sell its Umbro affiliate brand to Iconix Brand Group, Inc.
(NASDAQ:ICON) for $225 million. The transaction is expected to be complete by
the end of 2012.
NIKE, Inc. had announced its intention to divest of Umbro and Cole Haan to
sharpen its focus on driving growth in the NIKE, Jordan, Converse and Hurley
brands on May 31, 2012.
“It is a difficult decision to divest any business but this action will enable
us to focus on our highest-potential growth opportunities,” said NIKE, Inc.
President and CEO Mark Parker. “Umbro has a great heritage, but ultimately, as
our category strategy has evolved, we believe Nike Football can serve the
needs of footballers both on and off the pitch.”
“Umbro is a true, authentic football brand with a global loyal consumer fan
base and we are thrilled to be adding it to our portfolio of iconic brands,”
stated, Neil Cole, CEO Iconix Brand Group. “Umbro is an exciting acquisition
with more than 30 licensees in over 100 countries with a devout following. We
look forward to working with our international partners to maintain and expand
upon the rich heritage of Umbro,” Cole added.
About NIKE, Inc.
NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer,
marketer and distributor of authentic athletic footwear, apparel, equipment
and accessories for a wide variety of sports and fitness activities.
Wholly-owned NIKE subsidiaries include Cole Haan, which designs, markets and
distributes luxury shoes, handbags, accessories and coats; Converse Inc.,
which designs, markets and distributes athletic footwear, apparel and
accessories; and Hurley International LLC, which designs, markets and
distributes action sports and youth lifestyle footwear, apparel and
accessories. For more information, visit www.nikeinc.com and follow @Nike.
About Iconix Brand Group, Inc.
Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of
consumer brands including: CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE
BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC
(R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R),
CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), and SHARPER IMAGE (R).
In addition, Iconix owns interests in the ARTFUL DODGER (R), ECKO (R), MARC
ECKO (R), ED HARDY (R) MATERIAL GIRL (R), PEANUTS (R), and TRUTH OR DARE
brands. The Company licenses its brands to a network of leading retailers and
manufacturers that touch every major segment of retail distribution from the
luxury market to the mass market in both the U.S. and worldwide. Through its
in-house business development, merchandising, advertising and public relations
departments Iconix manages its brands to drive greater consumer awareness and
Iconix Brand Group
+1 212 819 2084
+1 503 532 8759
+44 161 492 2005
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