Nike, one of the world’s most recognizable sports apparel brands, has been a household name for decades. However, few people know about its subsidiary, Cole Haan, a luxury shoe brand that has been in business for almost a century. With Nike’s reputation for innovation and quality, many have wondered if it still owns this iconic brand.
Cole Haan has a rich history that dates back to 1928, when it was established in Chicago. Over the years, it has become synonymous with sophisticated footwear and accessories, gaining a loyal following of fashion-forward individuals. But with Nike being such a dominant force in the industry, it’s natural to wonder if it still owns Cole Haan. Let’s explore the answer to this question and discover the relationship between these two powerhouse brands.
Does Nike Still Own Cole Haan?
Nike is one of the world’s leading athletic brands, and over the years, it has acquired several other companies to expand its reach. One of those companies is Cole Haan, a popular fashion brand known for its footwear and accessories. However, many people are unsure if Nike still owns Cole Haan or if it has been sold. In this article, we will explore the history of Nike’s acquisition of Cole Haan and what has happened since.
The Acquisition of Cole Haan
In 1988, Nike acquired Cole Haan for $95 million. At the time, Nike was looking to expand its product line beyond athletic shoes and apparel, and Cole Haan seemed like the perfect fit. The fashion company was known for its high-quality footwear and accessories, and Nike saw an opportunity to tap into the luxury market.
Under Nike’s ownership, Cole Haan continued to grow and expand. The brand launched new product lines and opened stores in new markets around the world. For many years, it seemed like Nike and Cole Haan were a perfect match.
The Sale of Cole Haan
In 2012, Nike announced that it was selling Cole Haan to the private equity firm Apax Partners for $570 million. The decision to sell the fashion brand was part of Nike’s strategy to focus more on its core athletic business. By divesting itself of Cole Haan, Nike could put more resources into developing its own products and expanding its athletic reach.
The sale of Cole Haan was completed in early 2013, and the fashion brand became a separate entity from Nike. Since then, Cole Haan has continued to operate independently, launching new product lines and expanding into new markets. Despite no longer being owned by Nike, Cole Haan continues to be a popular and well-respected fashion brand.
The Benefits of Selling Cole Haan
For Nike, selling Cole Haan had several benefits. First and foremost, it allowed the company to focus more on its core athletic business. By divesting itself of a non-essential brand, Nike could put more resources into developing its own products and expanding its reach in the athletic market. Additionally, the sale of Cole Haan brought in a significant amount of money that Nike could use for future investments and acquisitions.
For Cole Haan, becoming a separate entity from Nike also had its advantages. As an independent company, Cole Haan could focus more on its own vision and goals without being tied to Nike’s strategy. The fashion brand could also seek out new partnerships and opportunities that may not have been possible under Nike’s ownership.
Cole Haan vs. Nike
While Cole Haan and Nike were once under the same ownership, they are now separate companies with different goals and strategies. Nike continues to focus on its core athletic business, developing and marketing products for athletes and sports enthusiasts. Cole Haan, on the other hand, is a fashion brand that creates footwear and accessories for a wider audience.
Despite their differences, both Nike and Cole Haan are highly respected brands in their respective markets. Nike is known for its innovative products and marketing campaigns, while Cole Haan is known for its high-quality and stylish footwear and accessories. As separate entities, both companies can continue to thrive and grow in their own unique ways.
The Future of Cole Haan
Since becoming a separate entity from Nike, Cole Haan has continued to grow and expand. The fashion brand has launched new product lines and opened stores in new markets around the world. In 2020, Cole Haan went public, raising $556 million in its initial public offering.
The future looks bright for Cole Haan as it continues to establish itself as a leading fashion brand. As an independent company, Cole Haan has the freedom to pursue its own vision and goals, and it will be interesting to see where the brand goes from here.
Conclusion
In conclusion, Nike no longer owns Cole Haan. The fashion brand was sold to the private equity firm Apax Partners in 2012, and it has operated independently ever since. While Cole Haan and Nike were once under the same ownership, they are now separate companies with different goals and strategies. Despite this, both brands continue to be highly respected in their respective markets, and the future looks bright for Cole Haan as it continues to grow and expand.
| Nike | Cole Haan |
|---|---|
| Focuses on athletic products | Creates footwear and accessories for a wider audience |
| Innovative products and marketing campaigns | Known for high-quality and stylish footwear and accessories |
| Owned by Nike | Operates independently |
- Nike acquired Cole Haan in 1988 for $95 million
- In 2012, Nike sold Cole Haan to the private equity firm Apax Partners for $570 million
- Cole Haan has operated independently since 2013
- Cole Haan went public in 2020, raising $556 million in its initial public offering
Frequently Asked Questions
Find out if Nike still owns Cole Haan by reading the following questions and answers:
1. Has Nike sold Cole Haan?
No, Nike has already sold Cole Haan to Apax Partners for $570 million in 2013. The decision to sell Cole Haan was part of Nike’s strategy to focus on its core business, which is designing and marketing athletic footwear and apparel.
Since the sale, Cole Haan has operated as an independent entity, with its own management team and board of directors. The company has continued to produce premium footwear, bags, and accessories that blend style and function.
2. Who currently owns Cole Haan?
Cole Haan is currently owned by a private equity firm called Apax Partners. Apax Partners acquired Cole Haan from Nike in 2013 and has since focused on expanding the brand’s reach and product offerings.
Under Apax’s ownership, Cole Haan has opened new stores around the world, launched a successful e-commerce platform, and introduced new product lines, such as outerwear and sunglasses.
3. How has Cole Haan performed since it was sold by Nike?
Cole Haan has performed well since it was sold by Nike. The company has reported steady revenue growth, driven by strong sales in its direct-to-consumer channels and increased brand awareness.
In 2020, Cole Haan went public, and its stock has performed well, reflecting investor confidence in the company’s growth prospects. Cole Haan’s success is attributed to its focus on quality craftsmanship, innovative design, and customer-centric approach.
4. Does Nike still have any involvement with Cole Haan?
No, Nike does not have any involvement with Cole Haan since it sold the company to Apax Partners in 2013. Cole Haan operates as an independent brand and has its own management team and board of directors.
However, Nike and Cole Haan have collaborated on limited-edition footwear collections in the past, showcasing their shared commitment to innovation and style.
5. What is Cole Haan’s brand philosophy?
Cole Haan’s brand philosophy is to create innovative, functional, and stylish products that empower people to move through their day with confidence and ease. The company is known for its use of premium materials, such as leather and suede, and its attention to detail.
Cole Haan aims to create products that seamlessly blend performance and style, making them versatile enough for any occasion. The brand’s commitment to quality craftsmanship and customer satisfaction has contributed to its continued success in the competitive fashion industry.
In conclusion, Nike’s ownership of Cole Haan has been a topic of interest for many consumers and industry insiders. While Nike has sold Cole Haan, the brand continues to thrive under new ownership. The sale allowed Nike to focus on its core athletic brands, while Cole Haan has been able to expand its product offerings and reach new customers.
Despite the change in ownership, Cole Haan’s commitment to quality and innovation remains unchanged. The brand has continued to introduce new technologies and materials into its products, such as its innovative Grand Ambition technology. This dedication to excellence has helped Cole Haan maintain its position as a leader in the fashion industry.
Overall, while Nike no longer owns Cole Haan, the brand’s success continues to be a testament to its enduring legacy. With a commitment to quality and innovation, Cole Haan is sure to continue to be a favorite among fashion-conscious consumers for years to come.
