As it became known from the official press release Nike, a manufacturer of sportswear and accessories, has sold its previously owned brand Umbro, also specializing in the business of producing sporting goods.
From now on, Umbro belongs to the group Iconix Brand, which already owns almost three dozen different brands related to sports products. It is reported that the deal amounted to 225 million US dollars, everything will be completed before the end of this year.
By the way, a few years earlier, Nike itself acquired Umbro for $565 million, but as a result of the outbreak of the financial crisis, the purchase brought nothing but losses.
This is not the first time Nike has sold the Iconix Brand.