- Huw Hughes |
Nike has reached a definitive agreement to sell American surf apparel and accessories brand Hurley to Bluestar Alliance LLC.
Terms of the transaction, which is expected to be completed in December, have not been disclosed.
"We appreciate how Bob and the Hurley team have built Hurley into the world's most innovative surf brand," Michael Spillane, president of categories and product at Nike, said in a statement. "As we drive increasingly more targeted investment and focused growth through Nike's Consumer Direct Offense, this change in ownership will allow sharper focus and intentional investment in Hurley's growth potential.”
Hurley, which was acquired by Nike back in 2002, will be joining Bluestar Alliance’s portfolio of brands including Bebe, Tahari, Kensie, Limited Too, Brookstone, and Nanette Lepore.
Joey Gabbay, CEO of Bluestar Alliance, commented: “We have always admired the Hurley brand as it has maintained its leadership role and premium positioning in the surf world.
“This is a transformative acquisition for Bluestar as Hurley’s international footprint will enhance Bluestar’s reach around the world. We look forward to building upon the existing Hurley network and expanding to additional countries with the deep relationships that already exist within the Bluestar portfolio of brands. We see Hurley continuing to evolve into a 360-degree lifestyle brand, with action sports playing a key role.”
Photo credit: Hurley, Facebook