NIKE, Inc. Announces Sale of Hurley to Bluestar Alliance
October 29 2019 - 5:00PM
Business Wire
NIKE, Inc. (NYSE: NKE) announced today it has reached a
definitive agreement to sell the Hurley brand to Bluestar Alliance
LLC. Terms of the transaction are not being disclosed and it is
expected to be complete in December.
"We appreciate how Bob and the Hurley team have built Hurley
into the world's most innovative surf brand," said Michael
Spillane, President of Categories and Product, NIKE, Inc. "As we
drive increasingly more targeted investment and focused growth
through Nike's Consumer Direct Offense, this change in ownership
will allow sharper focus and intentional investment in Hurley's
growth potential."
“We have always admired the Hurley brand as it has maintained
its leadership role and premium positioning in the surf world,”
stated Joey Gabbay, CEO of Bluestar Alliance. “This is a
transformative acquisition for Bluestar as Hurley’s international
footprint will enhance Bluestar’s reach around the world. We look
forward to building upon the existing Hurley network and expanding
to additional countries with the deep relationships that already
exist within the Bluestar portfolio of brands. We see Hurley
continuing to evolve into a 360-degree lifestyle brand, with action
sports playing a key role.”
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, Inc. subsidiary brands
include Converse, which designs, markets and distributes athletic
lifestyle footwear, apparel and accessories; and Hurley, which
designs, markets and distributes surf and youth lifestyle footwear,
apparel and accessories. For more information, NIKE, Inc.’s
earnings releases and other financial information are available at
http://investors.nike.com. Individuals can also visit
http://news.nike.com/ and follow @Nike.
About Bluestar Alliance,
LLC
Bluestar Alliance, founded in 2006 by Joseph Gabbay and Ralph
Gindi, owns, manages, and markets a portfolio of consumer brands
including Bebe, Tahari, Kensie, Limited Too, Brookstone, Nanette
Lepore, Catherine Malandrino, Joan Vass, English Laundry and others
that span across many tiers of distribution. Bluestar Alliance
specializes in licensing, branding and marketing consumer brand
companies through extensive relationships with leading retailers,
brand licensing manufacturers and a network of media and strategic
partners. Bluestar Alliance’s current international and domestic
partners offer the opportunity to take a niche brand to a visible
worldwide lifestyle brand. Since its inception, the company has
acquired select brands with retail sales expected to exceed $3.0
billion in 2019.
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version on businesswire.com: https://www.businesswire.com/news/home/20191029006077/en/
Nike Media Contact Mark Rhodes
(503) 532-8877
Nike Investor Contact Matt Friend
(503) 532-4213
Bluestar Contact
marketing@bluestarall.com
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