If you’re a fan of Cole Haan shoes, you may be wondering: is the brand still owned by Nike? It’s a valid question, as Nike was the majority owner of the company for over 30 years. However, in recent years, there have been some changes to the ownership structure that have left many wondering about the relationship between these two iconic brands.
First, let’s take a closer look at the history of Cole Haan and Nike. Founded in 1928, Cole Haan was initially an independent company that specialized in men’s footwear. In 1988, Nike acquired the brand, and for the next three decades, Cole Haan was a subsidiary of the sportswear giant. However, in 2018, Nike sold Cole Haan to a private equity firm, which has led to some confusion about the brand’s ownership.
Yes, Cole Haan is still owned by Nike. Nike acquired Cole Haan in 1988, and it remained a wholly-owned subsidiary of Nike until it was sold in 2013 to private equity firm Apax Partners. However, Nike still maintains a minority stake in the company.
Is Cole Haan Still Owned by Nike?
Cole Haan, the popular American footwear and accessories brand, has been a subsidiary of Nike since 1988. However, there have been rumors circulating about the ownership of Cole Haan in recent years. In this article, we will explore whether Cole Haan is still owned by Nike.
History of Cole Haan
Cole Haan was founded in Chicago in 1928 by Trafton Cole and Eddie Haan. The brand initially specialized in men’s footwear but later expanded to include women’s shoes, bags, and other accessories. Cole Haan’s reputation for high-quality craftsmanship and stylish designs helped it grow into a global brand.
In 1988, Nike acquired Cole Haan for $80 million, hoping to expand its reach in the fashion industry. Under Nike’s ownership, Cole Haan continued to produce high-end footwear and accessories.
Cole Haan’s Departure from Nike
In 2012, Nike announced that it was selling Cole Haan to Apax Partners, a private equity firm, for $570 million. The decision to sell Cole Haan was part of Nike’s strategy to focus on its core business of athletic footwear and apparel.
Under Apax Partners’ ownership, Cole Haan continued to thrive as a global fashion brand. The company expanded its product line to include outerwear, sunglasses, and other accessories. In 2018, Cole Haan went public and was listed on the NASDAQ stock exchange.
Current Ownership of Cole Haan
As of 2021, Cole Haan is no longer owned by Apax Partners. In February 2021, the company was acquired by a consortium led by private equity firm, Authentics Brands Group, for $570 million. The consortium also included private equity firms, General Atlantic and Leonard Green & Partners.
Despite the change in ownership, Cole Haan’s commitment to quality craftsmanship and stylish designs remains the same. The company continues to produce high-end footwear and accessories that appeal to fashion-conscious consumers around the world.
Cole Haan vs. Other Fashion Brands
Cole Haan’s unique combination of high-quality craftsmanship and fashion-forward designs sets it apart from other fashion brands. While some brands focus solely on fashion, Cole Haan’s roots in footwear ensure that its products are not only stylish but also comfortable and functional.
In terms of pricing, Cole Haan is considered a mid-range fashion brand. While its products are more expensive than those of some fast-fashion brands, they are more affordable than those of luxury brands. This makes Cole Haan accessible to a wider range of consumers.
Benefits of Owning a Pair of Cole Haan Shoes
There are many benefits to owning a pair of Cole Haan shoes. Firstly, the quality of craftsmanship ensures that they will last for many years, making them a worthwhile investment. The brand’s commitment to comfort also means that you can wear them for long periods without experiencing discomfort.
Another benefit of owning Cole Haan shoes is their versatility. The brand offers a range of styles that can be dressed up or down depending on the occasion. Whether you’re going to work or out for a night on the town, there is a pair of Cole Haan shoes that will fit the bill.
Cole Haan’s Sustainability Efforts
In recent years, Cole Haan has made a commitment to sustainability. The company has implemented various initiatives to reduce its environmental impact, such as using recycled materials in its products and reducing waste in its manufacturing processes.
Cole Haan has also partnered with organizations such as the Better Cotton Initiative and the Leather Working Group to ensure that its products are made using sustainable materials and processes. These efforts demonstrate the company’s commitment to reducing its environmental footprint and promoting sustainability in the fashion industry.
Conclusion
In conclusion, Cole Haan was acquired by Nike in 1988 and later sold to Apax Partners in 2012. As of 2021, the company is owned by a consortium led by Authentic Brands Group. Despite changes in ownership, Cole Haan’s commitment to quality craftsmanship and fashion-forward designs remains the same. The brand’s sustainability efforts and commitment to comfort make it a popular choice among fashion-conscious consumers.
Frequently Asked Questions
Is Cole Haan still owned by Nike?
Yes, Cole Haan is still owned by Nike. In 2012, Nike sold Cole Haan to Apax Partners for $570 million. However, in 2020, Nike acquired the shoe company again for $500 million. Despite the sale and reacquisition, Cole Haan remains a subsidiary of Nike.
While Nike’s focus is primarily on athletic footwear and apparel, Cole Haan specializes in dress shoes, casual shoes, and accessories. Nike’s ownership allows Cole Haan to benefit from Nike’s resources and expertise in areas such as design, marketing, and logistics.
Why did Nike sell Cole Haan?
Nike sold Cole Haan in 2012 to focus on its core business of athletic footwear and apparel. At the time, Nike’s CEO Mark Parker said that the sale would allow Nike to “sharpen our focus on opportunities with the highest potential for our growth.” The sale also allowed Nike to reduce its overall costs and streamline its operations.
However, in 2020, Nike decided to reacquire Cole Haan. The decision was made after Nike’s executives noticed that Cole Haan had been successful in expanding its product line and distribution channels. Nike believed that it could help Cole Haan continue to grow and expand its reach by providing additional resources and expertise.
Has anything changed since Nike reacquired Cole Haan?
Since Nike reacquired Cole Haan, there have been some changes. One of the biggest changes has been in the leadership of the company. In 2020, Cole Haan appointed a new CEO, Jack Boys, who has experience working for brands such as Converse and Sperry.
In addition, Nike has been working with Cole Haan to expand its product line and distribution channels. For example, Cole Haan has launched a new line of athletic shoes, and the company has opened new retail stores in key markets such as China. Nike’s ownership has also allowed Cole Haan to benefit from Nike’s expertise in areas such as sustainability and innovation.
What is the history of Cole Haan?
Cole Haan was founded in 1928 in Chicago by Trafton Cole and Eddie Haan. The company originally focused on men’s footwear, but later expanded into women’s footwear and accessories. In the 1970s, Cole Haan was acquired by the department store chain, Federated Department Stores.
In 1988, Cole Haan was acquired by a group of investors led by Tompkins PLC, and the company continued to expand its product line and distribution channels. In 2012, Cole Haan was sold to Apax Partners, and in 2020, the company was reacquired by Nike.
What types of products does Cole Haan offer?
Cole Haan offers a variety of products, including dress shoes, casual shoes, boots, sandals, handbags, and accessories. The company is known for its innovative designs and use of high-quality materials. In recent years, Cole Haan has also expanded its product line to include athletic shoes and other products aimed at a younger, more fashion-conscious demographic.
Cole Haan’s products are sold through a variety of channels, including its own retail stores, department stores, and online retailers. The company has also partnered with other brands and designers to create limited-edition products and collaborations.
In conclusion, while Cole Haan was once owned by Nike, it is no longer a subsidiary of the larger company. In 2012, Nike sold Cole Haan to private equity firm Apax Partners for $570 million. Since then, Cole Haan has continued to operate independently, focusing on its own unique brand and style.
Despite no longer being owned by Nike, Cole Haan has maintained its reputation for high-quality footwear and accessories. With a focus on comfort and style, the brand has continued to innovate and evolve with the times, offering a wide range of products that appeal to a diverse range of consumers.
Overall, whether you’re a longtime fan of Cole Haan, or simply curious about the brand’s ownership history, it’s clear that the company remains a major player in the fashion industry. With a commitment to quality, innovation, and style, Cole Haan is sure to continue prospering for years to come.
