Nike transfers surf to Hurley
While many traditional players in the world of surfing are focusing on products dedicated to equipment and the sport itself, Nike seems to have given up on its surfing ambitions. The American magazine Stab has just reported that Nike's entire team of professional surfers will now be sponsored by California brand Hurley, highly respected in the microcosm of the surf world and purchased by the American giant in 2002.
After heavily investing in surf through the sponsorship of athletes, creating the U.S. Open of Surfing in New York and a community surf space in Anglet, France known as Roundhouse, the company with the famous swoosh will be closing its surfing division in 2013. It is a move that follows the company’s dropping the Nike 6.0 line at the beginning of the year. The group confirmed the transfer of surf activity to Hurley, adding that the company is still interested in the potential of board sports. The group has so far given no details about the strategy it intends to introduce for its surf brand. It could be that recent sales of Umbro and Cole Haan will be used to finance the further development of surf.
It is also a question about what the future holds for Nike's action sports division. Nike says it will focus its activity on skateboarding and snowboarding. The brand has zoomed in on skateboarding, namely through a collaboration between Levi's and Nike SB, or in Paris, France through a test store called Nike by Snowbeach. The group also seems to want to boost Nike snowboarding. However, given the current acquisition opportunities in the sector, will the company ultimately opt for external growth?
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