Nike gives tick to brands sale

SPORTSWEAR giant Nike is putting its Cole Haan and Umbro labels up for sale to focus on its biggest-selling core brands.

The US company said yesterday it is starting the process straight away and hopes to complete the sale by May next year.

“It is now time to seek a buyer for Umbro and Cole Haan to further focus ... on driving growth in the Nike brand, Jordan, Converse and Hurley,” stated Nike, which has forecast €1.5bn sales of football-related products this year.