Athletic powerhouse Nike is mulling a sale of surf and skate brand Hurley, a brand it purchased from founder Bob Hurley for an undisclosed amount in 2002, according to reporting by Reuters.
Part of the problem with Hurley is that it occupies a category viewed as having a shrinking audience and level of influence, a shift that caused former powerhouse Quicksilver to file for bankruptcy in 2015.
Hurley’s positioning is also at odds with Nike’s city-based plan for growth. In a 2017 press release, the Beaverton-based company stated, “In the new alignment, the company will drive growth by deeply serving consumers in 12 key cities, across 10 key countries: New York, London, Shanghai, Beijing, Los Angeles, Tokyo, Paris, Berlin, Mexico City, Barcelona, Seoul, and Milan. These key cities and countries are expected to represent over 80 percent of Nike’s projected growth through 2020.”