Nike has agreed to sell its Hurley brand to Bluestar Alliance.
Terms of the transaction, which is expected to be completed in December, are not being disclosed.
New York-based Bluestar Alliance is a brand management company which counts Bebe, Yak Pak, Limited Two, Kooba, John Vass and Catherine Malandino among its portfolio.
“We appreciate how Bob and the Hurley team have built Hurley into the world’s most innovative surf brand,” said Nike’s president of categories and product Michael Spillane. “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 Bluestar Alliance CEO Joey Gabbay.
“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.”