Nike sells Umbro for $225M

Nike sells Umbro for $225M

Nike is selling Umbro to Iconix Brand Group for $225 million.

Nike announced May 31 it planned to sell Umbro, a soccer equipment brand, and dress shoe brand Cole Haan. The company said the sales were planned "to focus on driving growth in the Nike, Jordan, Converse and Hurley brands."

"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."

Read more at OregonLive.com.

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