By Colin Kellaher

 

Nike Inc. (NKE) on Tuesday said it agreed to sell its Hurley surfwear brand to licensing firm Bluestar Alliance LLC for an undisclosed amount.

The Beaverton, Ore., footwear giant said it expects to complete the sale in December.

Nike acquired the businesses from surfwear industry icon Bob Hurley in 2002.

Bluestar, founded in 2006, owns and markets a portfolio of consumer brands including Bebe, Tahari, Limited Too and Brookstone.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 29, 2019 17:24 ET (21:24 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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