Nike Sells Cole Haan, Umbro

In a bid to refocus on its core products, Nike Inc. (Beaverton, Ore.) announced that it will sell its Cole Haan and Umbro brands by June 2013, the Wall Street Journal reports. Along with its namesake brand, the company’s remaining labels include Converse, Hurley International and Jordan.

Nike acquired Cole Haan, a shoes and accessories fashion retailer, in 1988, assuming $15 million of debt in the transaction, and purchased Umbro, a soccer-focused sports apparel brand, in 2008.