According to reports, Nike has announced the sale of subsidiary Cole Haan to Apax Partners for $570 million USD. Set to be finalized in early 2013, Nike first announced its plan to offload the American fashion label earlier this year. Nike President and CEO Mark Parker said, “The decision to divest of Cole Haan allows us to sharpen our focus on opportunities with the highest potential for strong returns, and to make sure the brands within the Nike, Inc. portfolio are the most complementary to the Nike brand.” Stay tuned for more info, and as always, let us know what you think in the comment section below!
