World Footwear

Companies

Nike considers sale of Hurley brand

Jul 26, 2019 United States
Nike considers sale of Hurley brand
One of the word's largest sportswear is exploring options for surf wear brand Hurley, part of its portfolio since 2002. Sale is amongst the options
So far, Nike didn't comment on the issue, but according to Reuters a disinvestment from the Hurley brand might be on the pipeline for Nike.

The sportswear giant purchased Hurley from founder Bob Hurley in 2002 for an unknown amount in a strategy to expand beyond athletic-focused apparel and gain momentum in other sportswear, such as surfing, skating, and snowboarding. Bob Hurley founded the company in 1979 and became a name known in the surf circuit in the 70s after shaping the surfboard for world champion Wayne “Rabbit” Bartholomew.

In the last few years popularity of surf wear and the beach lifestyle and culture was dropped. Quicksilver, another famous brand in the segment, filed for bankruptcy back in 2015 and was then taken over by Oaktree Capital management (a private equity firm). Athleisure and Urban streetwear brands are pointed as the ones winning more traction from the movement away from surf and beachwear.


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