Apax Partners, owners of Karl Lagerfeld, buy Cole Haan
Nike announced this week the sale of American premium apparel and accessories brand Cole Haan to Apax Partners for US$ 570 million. The transaction which was motivated by the need for the brand to focus more on its development, will be finalized early 2013. Alex Pellegrini, a partner of Apax Partners commented on the deal, highlighting the potential of Cole Haan to growth not only in the U.S. but also internationally.
Founded in 1928 and headquartered in New York, Cole Haan is an American designer and retailer of premium men’s and women’s footwear, apparel and accessories. The Company sells through leading department stores, 108 domestic Cole Haan stores (U.S.), 68 international stores across Canada, China and Japan and its online site. Cole Haan has been a wholly-owned affiliate brand of NIKE since 1988.