Costa Mesa, CA, (February 22, 2002)– Bob Hurley, President of Hurley International LLC announced today the partnership of Hurley International and Nike, Inc. (NYSE: NKE). Hurley International, founded by 20-year industry veteran Bob Hurley, is a premium teen lifestyle brand based in Costa Mesa, California.Terms of the agreement are not being disclosed.
“Our partnership with Nike creates infinite growth opportunities for the Hurley brand,” said Bob Hurley. “This agreement allows us to remain autonomous as Hurley but we now have the ability to realize our growth plans, increase our commitment to our current retailers and expand into international markets.”
Bob Hurley will remain President of Hurley International where he oversees the design, development and distribution of all Hurley products. Bob and his senior management team will continue to lead the company. The primary objectives of this partnership are two-fold: To continue the tremendous growth of the Hurley brand and expand product distribution into international markets. Hurley International will become a wholly owned subsidiary of Nike.
“Our partnership with Hurley is the right choice because Hurley is a strong brand that is uniquely positioned in the marketplace and relevant to a broad group of teen consumers,” said Tom Clarke, Nike’s President of New Business Ventures. “We’re looking forward to helping Bob fulfill his vision of building a truly international brand.”
Hurley International is embracing the future of design for apparel and accessories. Hurley is a teenage lifestyle brand with a focus on empowering the consumer. Hurley is all about freedom of choice. For more information visit hurley.com.
Nike, Inc., based in Portland, OR, is the world’s leading designer and marketer of authentic athletic footwear, apparel, equipment, and accessories for a wide variety of sports and fitness activities. For more information visit www.nikebiz.com.