'NIKE, Inc. today announced its intention to divest of two of its wholly-owned affiliate brands - Cole Haan and Umbro - to sharpen its focus on driving growth in the NIKE, Jordan, Converse and Hurley brands."We see tremendous opportunity to accelerate profitable growth around the world by continuing to deliver innovation and inspire consumers through the NIKE brand," said Mark Parker, President & CEO of NIKE, Inc. "We also see significant potential in Jordan, Converse and Hurley, which have unique consumer relationships that complement the NIKE Brand.*Cole Haan, which specializes in casual and dress leather footwear and bags, was acquired by NIKE, Inc. in 1988. The company is based in New York. Umbro is a football (soccer) specialist brand based in Manchester, UK, acquired by NIKE, Inc. in 2008. The process of divesting of these two businesses will begin immediately, and is expected to be complete by the end of NIKE, Inc.'s fiscal 2013 (May 31, 2013).'2011 sales were $518MM for Cole Haan and $224MM for Umbro out of a total of $2,747MM for Others Business.http://www.marketwatch.com/story/nike-inc-to-divest-of-cole-...-----------------------GG/MDP Home Fool
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