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The Boston Globe

Business

Nike selling Cole Haan brand for $570 million

BEAVERTON, Ore. — Nike is selling its Cole Haan brand to private equity firm Apax Partners for $570 million, part of its effort to focus on core brands.

The sneakers, clothing, and sports gear maker said in May that it wanted to sell the leather shoe and bag division and its Umbro soccer jersey brand to cut costs.

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