Nike is considering the sale of its Hurley surfwear brand, according to a Reuters report.
A general downturn in the sector has pushed other industry players within the space into significant difficulties, including rival brand Quiksilver – which filed for bankruptcy in 2015. Nike’s potential sale of its Hurley brand is reportedly likely to be a reaction to the same trends and an indication that the surfwear segment is not showing signs of recovery.
“The surf/skate market has been soft,” said NPD Group VP and senior industry adviser of sports Matt Powell. “Hurley has not been a growth story for some time.”
Nike’s potential sales price for the brand has not been disclosed.