Are you a fan of Cole Haan shoes and accessories? You may have heard that the brand was recently bought out, but do you know when it happened? In this article, we’ll dive into the details of the acquisition and what it means for the future of Cole Haan.
Founded in 1928 in Chicago, Cole Haan has been a popular brand for over 90 years, known for their stylish and comfortable footwear. In 2020, the company was bought out by private equity firm, Apax Partners, for a reported $687 million. But what led to this acquisition? Let’s find out.
Cole Haan was bought out by Apax Partners Worldwide LLP in 2012. Apax paid $570 million to Nike Inc. for the acquisition of the shoe and accessory brand. The sale allowed Nike to focus on its core business of athletic footwear and apparel. Since then, Cole Haan has continued to operate as an independent company under Apax’s ownership.
When Did Cole Haan Get Bought Out?
Cole Haan is a popular American brand known for its high-quality shoes, handbags, and accessories. The brand has been around for over 90 years, and during this time, it has gone through several ownership changes. In this article, we will explore the history of Cole Haan and when it was bought out.
The Early Days of Cole Haan
Cole Haan was founded in 1928 by Trafton Cole and Eddie Haan in Chicago, Illinois. The brand started as a men’s footwear company and quickly gained popularity for its innovative designs and high-quality craftsmanship. In the 1960s, Cole Haan expanded their product line to include women’s shoes, and in the 1980s, they added handbags and accessories.
Over the years, Cole Haan developed a reputation for its unique combination of style and comfort. The brand became a favorite among professionals, and their shoes were a common sight in offices across the country.
The Nike Years
In 1988, Cole Haan was acquired by Nike, Inc. The acquisition was part of Nike’s strategy to diversify its product line and expand into the lifestyle market. Under Nike’s ownership, Cole Haan continued to grow and expand its product offerings.
One of the most significant changes during the Nike years was the introduction of the Nike Air technology in Cole Haan shoes. This innovative technology provided superior comfort and cushioning, making Cole Haan shoes even more appealing to consumers.
The Apax Partners Acquisition
In 2012, Nike sold Cole Haan to Apax Partners, a private equity firm. The acquisition was part of Apax’s strategy to invest in high-growth consumer brands. At the time of the acquisition, Cole Haan had over 100 stores in the United States and around the world.
Under Apax’s ownership, Cole Haan continued to innovate and expand its product offerings. The brand introduced new lines of clothing and accessories, including outerwear, eyewear, and jewelry.
The Acquisition by An Affiliate of New York Private Equity Firm
In 2018, Cole Haan was bought out once again, this time by an affiliate of New York private equity firm, Apax Partners. The acquisition was for $570 million and was part of Apax’s strategy to continue investing in high-growth consumer brands.
Under the new ownership, Cole Haan has continued to expand its product offerings and increase its presence in the international market.
The Benefits of Cole Haan
Cole Haan is known for its high-quality products that combine style and comfort. The brand’s shoes, handbags, and accessories are designed to last, making them a great investment for consumers.
One of the key benefits of Cole Haan is the use of innovative technologies in their products. The Nike Air technology, for example, provides superior cushioning and comfort in their shoes, making them a popular choice among consumers.
Another benefit of Cole Haan is the brand’s commitment to sustainability. Cole Haan has made a concerted effort to reduce their environmental impact by using eco-friendly materials and implementing sustainable practices in their manufacturing process.
The Competition: Cole Haan Vs Other Brands
Cole Haan competes with several other high-end shoe and accessory brands, including Tory Burch, Michael Kors, and Coach. While each brand has its own unique style and offerings, Cole Haan stands out for its combination of style and comfort.
Cole Haan’s use of innovative technologies, such as the Nike Air technology, sets it apart from other brands. Additionally, the brand’s commitment to sustainability and eco-friendly practices is a unique selling point that appeals to environmentally conscious consumers.
The Future of Cole Haan
As Cole Haan continues to innovate and expand its product offerings, the brand is well-positioned for future growth. The company’s commitment to quality, innovation, and sustainability has helped it establish a loyal customer base, and its international presence provides ample opportunities for expansion.
In the coming years, we can expect to see Cole Haan continue to introduce new products and expand its reach in the global market. With a strong track record of success and a commitment to excellence, Cole Haan is poised for a bright future.
Freequently Asked Questions
Here are some frequently asked questions about when Cole Haan was bought out:
What is Cole Haan?
Cole Haan is a high-end American fashion brand that specializes in men’s and women’s footwear, accessories, and outerwear. The company was founded in 1928 in Chicago and has since become a globally recognized brand.
The brand is known for its innovative designs, quality craftsmanship, and use of premium materials. Cole Haan products are often associated with luxury, style, and sophistication.
When was Cole Haan bought out?
Cole Haan was bought out by private equity firm Apax Partners in 2012. The acquisition was valued at $570 million and marked the end of Cole Haan’s 24-year affiliation with Nike, Inc.
Under Apax Partners’ ownership, Cole Haan underwent a significant transformation, including the expansion of its product line and the opening of new retail stores in key international markets.
Why was Cole Haan bought out?
The decision to buy out Cole Haan was made by Nike, Inc. in order to focus on its core business of athletic footwear and apparel. Cole Haan, which had been a subsidiary of Nike since 1988, was seen as a distraction from Nike’s main focus.
Apax Partners, on the other hand, saw an opportunity to invest in a strong consumer brand with significant growth potential. The private equity firm believed that Cole Haan could be transformed into a leading lifestyle brand, and set about making significant changes to the company’s strategy and operations.
Who owns Cole Haan now?
Cole Haan is currently owned by private equity firm Apax Partners. Apax acquired the company from Nike, Inc. in 2012 for $570 million.
Since the acquisition, Apax has worked to transform Cole Haan into a leading lifestyle brand, expanding its product line, opening new retail stores, and focusing on international growth.
What is the future of Cole Haan?
The future of Cole Haan looks bright under Apax Partners’ ownership. The company has undergone significant transformation over the past few years, expanding its product line, opening new retail stores, and focusing on international growth.
In addition, Cole Haan has continued to innovate, launching new products and partnerships with other leading brands. With a strong reputation for quality and style, as well as a growing global presence, Cole Haan is well-positioned for continued success in the years to come.
In conclusion, Cole Haan, the renowned American footwear and accessories brand, was bought out by Apax Partners in 2012. This acquisition marked a significant turning point for the company, as it allowed them to focus on expanding their product offerings and reach a wider audience.
Since the buyout, Cole Haan has continued to grow and innovate, launching new collections and partnerships with top athletes and designers. They have also expanded their retail presence, with stores across the United States and around the world.
Overall, the buyout of Cole Haan has been a positive development for the brand and its customers. With the support and resources of Apax Partners, Cole Haan is poised for continued success in the years to come.
