Back in 2002 before LeBron James had laced up Air Zoom Generations in an NBA game, Nike was already investing in a new wave. It was that year they acquired Hurley.
Over the course of the last 17 years, Hurley has given Nike footing in the surf world and an even bigger imprint on the West Coast. Today, the Swoosh has announced the sale of Hurley to Bluestar Alliance LLC as Business Wire reports.
“We appreciate how Bob and the Hurley team have built Hurley into the world’s most innovative surf brand,” said Nike Inc’s President of Categories and Product, Michael Spillane. “As we drive increasingly more targeted investment and focused growth through Nike’s Consumer Direct Offense, this change in ownership will allow sharper focus and intentional investment in Hurley’s growth potential.”
This move follows Nike’s previous divesting of Cole Haan and Umbro in 2012 as well as the recent change in leadership as Mark Parker will be replaced by John Donahoe in 2020.
While Hurley’s moisture-wicking board shorts were instrumental in Nike’s namesake product – specifically their college basketball shorts around the turn of the past decade – the sale of the surfwear company suggests a more focused core built around Nike, Jordan and Converse.
Just the same, acquiring Hurley is a good look for Bluestar who already operates in malls where Hurley is sold by housing brands/retailers such as Bebe and Limited Too.
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