NEW YORK CITY: US sporting goods giant Nike is in talks to sell its shoe and accessory unit Cole Haan to the investment fund Apax Partners for around $500 million, the New York Times said Tuesday in its online edition.
Nike said in May that it would try to sell Cole Haan and its soccer clothing devision Umbro to focus on core brands such as Nike Jordan, Converse and Hurley.
The newspaper report quoted sources close to the talks as saying that an agreement with Apax Partners could be reached by next week but noted that it could also still fall through.
At the end of October, Nike said it would sell Umbro to Iconix Brand Group for $225 million, less than half of what Nike paid for the company four years ago. (AFP)
