After putting out some major collaborations this year, the Nike & Cole Haan project will be coming to an end. As reported on Hypebeast.com, Oregon sportswear giant Nike has released it’s plan to sell off Cole Hann and Umbro in order to focus more on their Jordan, Converse and Hurley labels. Mark Parker, president and CEO of Nike, said in a statement, “Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for Nike Inc. to continue to drive sustainable, profitable growth for our shareholders.” Nike plans to have both companies off the books by May of 2013.

nikeSource: Hypebeast

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