- Last Updated: 9:21 AM, May 31, 2012
- Posted: 9:21 AM, May 31, 2012
BEAVERTON, Ore. — Nike says it plans to sell two of its brands — Umbro soccer gear and Cole Haan shoes and accessories — to cut costs and focus on its namesake brand.
The company says more potential lies in its Nike products and its Jordan, Converse and Hurley brands.
Strong demand for Nike's shoes and clothes has helped the company charge past many rivals. But, like most consumer product makers, Nike Inc. faces rising costs for packaging, fuel and other raw materials.
It recently launched two high-profile lines: FlyKnit lightweight shoes and Nike+ training software and gear.
The Beaverton, Ore.-based company acquired Cole Haan in 1988 and UK-based Umbro in 2008.