November 16, 2012 at 12:49 PM EST
Nike Selling Cole Haan, 2nd Brand Sale in 2 Months
Nike (NKE) is selling its Cole Haan handbag and shoe brand to private equity firm Apax Partners for $570 million to focus on opportunities it sees as having higher potential returns. The planned divestiture by the world's largest athletic apparel maker is just the latest in a series by the company known for its "Just Do It" slogan. On Oct. 24, Nike said it reached an agreement to sell its Umbro football brand to Iconix Brand Group for $225
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