Nike announced on Tuesday that it would be selling surf brand Hurley to Bluestar Allicance LLC, ,which owns brands including Bebe, Tahari and Kensie.
“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, in a news release. “This is a transformative acquisition for Bluestar as Hurley’s international footprint will enhance Bluestar’s reach around the world.”
In a news release, Nike president of categories and product had this to say:
“We appreciate how Bob and the Hurley team have built Hurley into the world’s most innovative surf brand. 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.”
Hurley was founded in 1979 by Bob Hurley , Bob Rowland and Joe Knoernchild. In 2002 the brand was acquired by Nike. Hurley stepped down as CEO in 2015. According to Nike’s most recent annual report, it operates 29 stores.
Terms of the deal have not been disclosed but the deal is expected to be completed this December.