Trends & Features

Umbro sold for $225 million

Nike has sold Umbro to Iconix Brand Group for $225 million (approximately £140 million).

The deal is expected to be complete by the end of 2012.

Describing itself as ‘an award winning industry leader in promoting and elevating brands in the marketplace through traditional and new media platforms’, Iconix, which is based in New York, owns 29 consumer brands in the fashion, athletic, electronic, entertainment and home industries.

Its athletic brands include Danskin and Starter, which Iconix bought from Nike in 2007.

“Umbro is a true authentic football brand with a global loyal consumer fan base and we are thrilled to be adding it to our portfolio of iconic brands,” says Neil Cole, CEO of Iconix.

“Umbro is an exciting acquisition with more than 30 licensees in over 100 countries with a devout following. We look forward to working with our international partners to maintain and expand upon the rich heritage of the brand.”

Nike president and CEO Mark Parker said selling Umbro would enable the company to focus on its ‘highest potential growth opportunities’, adding: “Umbro has a great heritage, but as our category strategy has evolved we believe Nike Football can serve the needs of footballers both on and off the pitch.”

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