Nike has reached an agreement to sell the Hurley brand to Bluestar Alliance. Terms of the transaction were not disclosed but the deal is expected to be completed in December.
Nike acquired Hurley in 2002, and its founder Bob Hurley stepped down from the company in 2015.
The move comes as Nike is increasingly focused on direct and digital sales of its core Nike products through a strategy called the “Consumer Direct Offense.”
“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 at 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,” added 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. We look forward to building upon the existing Hurley network and expanding to additional countries with the deep relationships that already exist within the Bluestar portfolio of brands. We see Hurley continuing to evolve into a 360-degree lifestyle brand, with action sports playing a key role.”