Nike Sells Umbro Brand to Iconix Brand Group
Updated September 26, 2020, originally posted on October 24, 2012
Nike announced that is has reached an agreement to sell its Umbro brand to the Iconix Brand Group. The transaction is valued at $225 million and is expected to be completed by the end of this year. Umbro is a supplier of sportswear and soccer equipment. The Umbro logo is pictured above.
Iconix Brand Group CEO Neil Cole said in a statement, "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. 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 Umbro."
Nike Preisdent and CEO Mark Parker added, "It is a difficult decision to divest any business but this action will enable us to focus on our highest-potential growth opportunities. Umbro has a great heritage, but ultimately, as our category strategy has evolved, we believe Nike Football can serve the needs of footballers both on and off the pitch."
The Umbro brand continues with new football products at umbro.com. Here is a 2019 video about Umbro called This is Our Game.