Kukla's Korner Hockey
Entries with the tag: nike
In early September we spent the whole day on the ice and in the locker room with Alexander Ovechkin, who flew to Moscow to shoot his first advertising campaign for Nike.
From Ian Austen at the NY Times,
Thirteen years after acquiring Bauer, and making bold promises that it would transform the business of hockey, Nike has put its Nike Bauer unit up for sale, a rare bit of comeuppance for one of the world’s powerful brands.
Though Nike Bauer remains a market leader, many analysts predict that the company will find it hard to recover even half the $395 million it paid for Canstar Sports, Bauer’s Montreal-based parent, in December 1994.
“It was one of Phil Knight’s ideas,” said Brady Lemos, an analyst with Morningstar, referring to Nike’s chairman. “Perhaps they were too optimistic.”
more… looking at the history and details of Nike Bauer’s performance and what went wrong
from Brian Milner of the Globe and Mail,
Hockey legends Mario Lemieux and Wayne Gretzky have surfaced as potential partners in groups interested in acquiring Nike Bauer, the world’s leading maker of skates and other hockey equipment….
“There’s a tremendous amount of people going to the next stage,” a person familiar with the process said. “At the end of the day, there are groups that will have [former] players involved. That includes Mario and Wayne.”
from Rick Westhead of the Toronto Star,
“I remember (Nike CEO) Phil Knight saying at the time that hockey was North America’s fourth-most culturally-significant sport,” said John Collins, a former senior executive in Nike’s hockey division. “He wanted in.”
Nike would wind up paying a frothy $395 million (U.S.) for Canstar, a 50 per cent premium above the level its shares were trading in prior months.
Industry executives now say even though a number of suitors will probably emerge for NikeBauer, it’s doubtful the division will sell for more than $150 million – less than half what Nike originally paid for it.