Leak to Wall Street Journal kills deal 'tween Bob and Nike…
Three weeks ago, Nike cut a deal with brand management company Bluestar Alliance to buy Hurley for an undisclosed amount.
The sale followed Volcom, which was sold in April to a maker of velour tracksuits and Rip Curl in October to camping retailer Kathmandu.
Bob Hurley, of course, cashed in his chips to Nike for a hundred and twenty mill in 2002, three years after Hurley International was launched, although he continued to run the show until 2015.
Bob, a legend in the game, first as a shaper then as a biz-man, spent sixteen years turning a little-known brand called Billabong into a hundred-mill-a-year biz. When the US license came up for renewal in 1998, he knocked it back and Hurley Int was born.
Now, according to a source, the Hurley family were in the process of buying the ol biz back from Nike, their movements were leaked to The Wall Street Journal, and they were subsequently outbid by Bluestar Alliance, owners of clothing brands for the “confident, sexy modern woman!”
As a consequence, and according to the yet-to-be confirmed rumour, Bob’s sons Ryan, who was supposed to become the new Bob, the new face of Hurley, and Jeff, the chief of marketing, and two other family members, have been let go by Bluestar.
Hit up Bob on DM, I’ll let y’know when he hits the keys back.