Nike and Cole Haan are two of the most recognizable names in the fashion industry. Nike, known for its iconic “swoosh” logo and athletic footwear, and Cole Haan, famous for its classic, high-quality leather shoes and accessories, have both become household names in their respective markets. But what many people don’t know is whether Nike owns Cole Haan. In this article, we’ll explore the relationship between these two brands and uncover the truth behind the ownership of Cole Haan.
Does Nike Own Cole Haan? The Answer Might Surprise You
The History of Cole Haan
Cole Haan, founded in 1928, is a luxury brand that offers a wide range of products, including shoes, bags, and accessories. The brand’s focus is on combining craftsmanship and innovation to create timeless products that are both stylish and functional. Cole Haan has been known for its high-quality products and has become a popular brand among consumers who value quality and style.
The Acquisition by Nike
In 1988, Cole Haan was acquired by Nike, Inc. for $80 million. Nike, a well-known sportswear brand, saw an opportunity to expand its product line and enter the luxury market by acquiring Cole Haan. At the time of the acquisition, Cole Haan was already a successful brand, and the acquisition allowed the brand to continue to grow and expand.
The Benefits of the Acquisition
The acquisition of Cole Haan by Nike brought several benefits for both brands. For Cole Haan, it meant access to Nike’s resources and expertise in design, marketing, and distribution. This allowed the brand to expand its product line and reach a wider audience. For Nike, the acquisition allowed the brand to enter the luxury market and expand its product line beyond sportswear.
The Separation from Nike
In 2012, Nike announced that it would be selling Cole Haan as part of its strategy to focus on its core sportswear business. In 2013, Cole Haan was sold to Apax Partners, a private equity firm, for $570 million. The separation from Nike allowed Cole Haan to operate as an independent brand and focus on its core business of creating high-quality, stylish products.
The Success of Cole Haan
Since the separation from Nike, Cole Haan has continued to grow and expand its product line. The brand has also focused on sustainability and has introduced several eco-friendly products. In 2020, Cole Haan went public and raised $556 million in its initial public offering. The success of Cole Haan can be attributed to its focus on providing high-quality, stylish products that appeal to consumers who value quality and sustainability.
Cole Haan vs. Nike
While both Cole Haan and Nike are well-known brands, they have different focuses and target markets. Nike is primarily a sportswear brand that focuses on creating products for athletes and fitness enthusiasts. Cole Haan, on the other hand, is a luxury brand that focuses on creating timeless products that are both stylish and functional.
The Product Line
Nike’s product line includes athletic shoes, apparel, and accessories, while Cole Haan’s product line includes shoes, bags, and accessories. While both brands offer shoes, Cole Haan’s shoes are designed for everyday wear and are known for their comfort and style, while Nike’s shoes are designed for athletic performance.
The Target Market
Nike’s target market is primarily athletes and fitness enthusiasts, while Cole Haan’s target market is consumers who value quality and style. While there may be some overlap between the two brands’ target markets, they have different focuses and appeals.
The Brand Image
Nike is known for its sporty and athletic image, while Cole Haan is known for its luxury and sophistication. While both brands have strong brand images, they appeal to different consumers and have different associations.
The Conclusion
In conclusion, Nike does not own Cole Haan anymore. While Nike acquired Cole Haan in 1988, it sold the brand to Apax Partners in 2013 as part of its strategy to focus on its core sportswear business. Since then, Cole Haan has operated as an independent brand and has continued to grow and expand its product line. While both Cole Haan and Nike are well-known brands, they have different focuses and target markets. Cole Haan is a luxury brand that focuses on creating timeless products that are both stylish and functional, while Nike is primarily a sportswear brand that focuses on creating products for athletes and fitness enthusiasts.
Frequently Asked Questions
Here are some common questions and answers about the ownership of Cole Haan by Nike.
Question 1: Does Nike own Cole Haan?
Yes, Nike formerly owned Cole Haan. The athletic shoe and apparel company acquired Cole Haan in 1988 and grew the brand into a successful designer and retailer of premium footwear, handbags, and accessories. However, in 2013, Nike sold the Cole Haan brand to Apax Partners, a private equity firm.
Since the sale, Cole Haan has continued to expand its product offerings and retail presence. The brand has also focused on sustainability initiatives and ethical manufacturing practices. While no longer owned by Nike, Cole Haan continues to be a popular and respected brand in the fashion industry.
Question 2: Why did Nike sell Cole Haan?
Nike sold Cole Haan as part of a strategic shift to focus on its core athletic business. The company wanted to streamline its operations and invest more resources into its Nike brand and other athletic-focused subsidiaries. By selling Cole Haan, Nike was able to generate cash that it could use to fund new product development and marketing initiatives.
Additionally, Nike believed that Cole Haan would be better served by a company that specializes in luxury fashion and retail. Apax Partners, the buyer of Cole Haan, had a proven track record of growing fashion brands and was able to provide the resources and expertise needed to help Cole Haan reach its full potential as a fashion brand.
Question 3: What is Cole Haan known for?
Cole Haan is known for its high-quality footwear, handbags, and accessories that blend classic styles with modern design elements. The brand uses premium materials and innovative manufacturing techniques to create products that are both stylish and comfortable.
Cole Haan is also known for its commitment to sustainability and ethical manufacturing practices. The brand uses recycled materials and eco-friendly production methods to reduce its impact on the environment. Additionally, Cole Haan works with suppliers that meet strict labor standards to ensure that all workers are treated fairly and paid a living wage.
Question 4: Where can I buy Cole Haan products?
Cole Haan products can be purchased online at the Cole Haan website, as well as at many department stores and specialty retailers around the world. The brand has also opened its own retail stores in major cities across the United States, Canada, and Asia.
In addition to its physical retail locations, Cole Haan also operates a robust e-commerce platform that allows customers to shop online and have products shipped directly to their homes. The brand also offers free shipping and returns on all orders, making it easy for customers to try out new products and find the perfect fit.
Question 5: What other brands does Nike own?
In addition to its flagship Nike brand, Nike also owns several other athletic-focused subsidiaries, including Converse, Hurley, and Jordan Brand. These brands specialize in different segments of the athletic market and offer a wide range of products, from sneakers and apparel to accessories and equipment.
Nike also has several other subsidiaries that focus on technology and innovation, such as Nike Digital and Nike Explore. These subsidiaries are responsible for developing new products and technologies that help Nike stay at the forefront of the athletic industry.
In conclusion, Nike does not own Cole Haan anymore. Despite being a subsidiary of Nike for over 25 years, Cole Haan was sold to Apax Partners in 2012. This move allowed Nike to focus on its core brand and expand its market share in the athletic apparel industry.
While Nike and Cole Haan share similar values of innovation and design, they now operate as separate entities. Cole Haan has continued to thrive under Apax Partners’ ownership, offering stylish and comfortable footwear and accessories for both men and women.
In the end, the sale of Cole Haan allowed Nike to streamline its operations and focus on its core competencies. And for Cole Haan, it provided an opportunity for growth and expansion outside of the Nike umbrella.
