Nike to sell surf brand Hurley to Bluestar Alliance
05/11/2019
Nike is selling surf brand Hurley to brand management company Bluestar Alliance for an undisclosed sum, in a deal expected to be completed in December.
The purchase adds Hurley to a portfolio that currently includes Bebe, Tahari, Kensie, Limited Too, Brookstone and others spanning different tiers of distribution. Bluestar Alliance, which specialises in licensing, branding and marketing consumer brand companies, expects its brands’ retail sales to exceed $3 billion in 2019.
“We appreciate how Bob and the Hurley team have built Hurley into the world’s most innovative surf brand,” said Michael Spillane, president of categories and product for Nike. “As we drive increasingly more targeted investment and focused growth through Nike’s consumer direct offense, this change in ownership will allow sharper focus and intentional investment in Hurley’s growth potential.”
“We have always admired the Hurley brand as it has maintained its leadership role and premium positioning in the surf world,” said Joey Gabbay, CEO of Bluestar Alliance. “This is a transformative acquisition for Bluestar as Hurley’s international footprint will enhance Bluestar’s reach around the world.” Mr Gabbay added that the company sees Hurley “continuing to evolve into a 360-degree lifestyle brand, with action sports playing a key role.”
Image: Hurley
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