Nike to sell Scarborough-based Cole Haan

Nike Inc. plans to sell Cole Haan, the Scarborough-based maker of high-end footwear and bags it purchased in 1988. The divestiture process will begin immediately but is not expected to be completed until June 2013, according to a Nike press release.
Nike also plans to sell its wholly-owned affiliate Umbro, which designs soccer gear and apparel. "Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportu ...