Nike set to sell historic Umbro brand
US sportswear giant Nike plans to sell the historic North West football brand Umbro – which it has owned for just four years.
The American company said it wants to focus on its core brands and that Umbro – which it bought for £285m in 2008 – and it would be sold along with shoe company Cole Haan.
Founded in Wilmslow in 1924 by the Humphreys Brothers – from where the Umbro name is derived – the England team kit supplier is now based at the Cheadle Royal Business Park.
Most recent financial figures show Umbro reduced its losses by 11% to £36.8m in the year to May 30, 2011 as sales grew by 9% to £143m.
Last month Nike said it was moving its sponsorship of new Premier Leage champions Manchester City, from Umbro to its main brand. The company already has kit deals with Manchester United and Barcelona.
Nike chief executive Mark Parker said: “Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for Nike, to continue to drive sustainable, profitable growth for our shareholders.”
The Oregon-based group said it would like to have completed the disposal by the end of May next year.
It said it wants to focus on its NIKE, Jordan, Converse and Hurley brands.
As well as Manchester City and England, Umbro has kit sponsorship deals with the Republic of Ireland, Sweden and Glasgow Rangers.
