Nike announced today its plans to sell brands Cole Haan and Umbro to focus on their larger names like Converse, Jordan and Hurley International. Even though Jordan and Converse are successful brands, Cole Haan is widely successful in department stores, so we are lost by this decision.
Cole Haan, being with Nike since 1988, is widely known for its leather quality and casual clothes, while Umbro focuses on soccer gear. Dropping both of these brands from the company will trim its production lines. The widely successful athletic company plans to be done with both brands by this time next year.
Nike is looking forward to seeing private equity firms jumping on this opportunity. They have already shown interest in huge brands like J. Crew and Allen Edmonds. We wonder how this will affect shoppers and the brand’s quality?