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Cole Haan
Company typeSubsidiary of Apax Partners
IndustryConsumer Goods
Founded1928
FoundersTrafton Cole
and Eddie Haan
Headquarters
Greenland, NH
,
United States
Key people
Trafton Cole, Co-Founder

Eddie Haan, Co-Founder

Jack Boys, CEO
ProductsFootwear, Handbags, and Accessories
Number of employees
1001-5000+
ParentApax Partners

Cole Haan is a fashion label that was recently acquired by the global private equity firm, Apax Partners, on February 1, 2013.[1] Cole Haan's headquarters are currently based in Greenland, New Hampshire, and its design center in New York City, with Jack Boys as its CEO.[2][3] Cole Haan has retail stores located worldwide: throughout the United States, South America, Canada, the Middle East, and Asia.[4]


Vision edit

The brand prides itself in passion for quality in their product, their performance, their experience, and their people. They provide products that provide fashion, comfort, and functionality to the customer. Cole Haan is a global lifestyle brand that underscores American style, beauty, and luxury.[4]

Company History edit

Inception edit

Cole Haan was founded upon the partnership of Trafton Cole and Eddie Haan in Chicago in 1928.[5] Cole Haan first established its roots and built its reputation as a men's footwear label. From its inception through the 1950's, Cole Haan was recognized for its distinctive, preppy footwear. In 1975, the company was acquired by a former leather cutter, George Denney, who then established its new headquarters in Yarmouth, Maine. It wasn't until 1979 when it branched out of its niche in the men's footwear department and broke into the women's footwear market. The brand opened its first retail store in Freeport, Maine, then launched its retail division of 42 stores worldwide by the end of the 1980's. Cole Haan also launched colehaan.com in 1987. Today it offers a variety of lifestyle products, including men's and women's dress and casual footwear, belts, hosiery, handbags, gloves, scarves, hats, outerwear, and sunglasses.[6]

Acquisition by Nike edit

In 1988, Nike, Inc. acquired Cole Haan to broaden its product line beyond sneakers, at the cost of $80 million, plus the repayment of $15 million in debt. Cole Haan revamped its brand with a new gray-green and red logo, redesigned its storefronts, and created a new product line of footwear featuring Nike Air technology in order to group all of its products under a single lifestyle image. Cole Haan licensed the Nike Air technology, which integrates Nike Air cushioning into the sole of high heels, loafers, and other types of shoes. Cole Haan currently has about 178 standalone stores and made $535 million in sales for Nike in the 2011 fiscal year, which was only about 2 percent of Nike’s overall revenue.[7]Nike, Inc. announced on May 31, 2012, that it will be removing its stake in Cole Haan to focus on other complementary brands and the Nike brand itself.[8]

Acquisition by Apax edit

Apax Partners won the bid for Cole Haan against the private equity firm, TPG Capital. Cole Haan was bought by Apax Partners Worldwide LLP for $570 million on November 19, 2012, from Nike, Inc. Nike will continue to allow Cole Haan to include their signature Nike Air technology for the duration of the "transition period," although it is unclear how long this period will last. Apax announced that Jack Boys, former CEO of Converse, is enlisted as Cole Haan's new CEO. At, and even prior to Converse, Mr. Boys contributed to the revitalization of the global lifestyle brands, Converse as well as The North Face and ultimately helped stimulate growth in both brands; Boys hopes to continue his legacy at Cole Haan by taking this business "to the next level."[7][9]

Innovations edit

File:Colehaannikeair.jpg
Cole Haan High-heel with Nike Lab technology

In 1996, Cole Haan penetrated international markets and introduced a collection of driving shoes, which eventually became one of Cole Haan's best sellers in Europe. With this relaunch came new colors, more durable materials, and softer leathers, for a more fashion forward line. Cole Haan experienced financial difficulties in the late 1990's, and lower expected sales triggered layoffs, which included the leave of the company president at the time. Beginning in 1998, executives from the parent company, Nike, Inc., transferred to Cole Haan to help revitalize the brand. They helped reposition the brand, introducing a broader variation of a more modern take on their already comfortable footwear line. This new repositioning was backed by a lifestyle advertising campaign called "Modern Artisan." [6]

In 2006, Cole Haan's creative director, Gordon Thompson, innovated a new high-heel collection featuring Nike, Inc.'s Air technology. Nike Zoom air bags were strategically placed in the interior lining of the shoe to counterbalance the stress of the weight from each step taken by the wearer. Nike's patented Air technology along with Cole Haan's design combines fashion and comfort, which reduces cramping, burning, and blistering of the feet. [10]

Flagship stores edit

 
Cole Haan on Newbury Street in Boston

The company's flagship stores are found in locations including:

Cole Haan products can be purchased at boutiques and department stores such as Bloomingdale's, Saks Fifth Avenue, Macy*s, Nordstrom, Neiman Marcus, and even at various online retailers like Zappos and Amazon.

Miscellaneous News edit

On November 1, 2006, Cole Haan's high heeled boots with Nike Air technology were featured on The Oprah Winfrey Show and were praised for being, as Oprah Winfrey stated, "a cure for feet."[11]

On February 25, 2008, the company announced it would discontinue using real animal fur in its products for business and sustainability reasons.[12]

Beginning 2009, Cole Haan and its parent, Nike, have worked to identify and reduce its energy and climate footprint. [13]

Cole Haan chose Russian tennis star Maria Sharapova to headline its Spring 2009 and Fall 2009 advertising campaigns as a reflection of the interplay of style and sport, and passion and play.[14]

In late 2009, Nike, Inc. decided to push Cole Haan in a new direction and named Dave McTague as CEO to replace Jim Seuss.[15]


References edit

  1. ^ "Apax Partners Completes Acquisition Of Cole Haan; Industry Veteran Jack Boys Named As Cole Haan's CEO". PR Newswire. Retrieved February 12, 2013.
  2. ^ "Cole Haan offices will move to Scarborough". Portland Press Herald. Retrieved February 12, 2013.
  3. ^ "Execs Upbeat On New Cole Haan CEO". Women's Wear Daily. Retrieved February 12, 2013.
  4. ^ a b "Cole Haan Website". Cole Haan. Retrieved February 12, 2013.
  5. ^ "Giving Faces to Cole, Haan". The Wall Street Journal. Retrieved February 15, 2013.
  6. ^ a b "Cole Haan" (PDF). America's Greatest Brands. Retrieved February 16, 2013.
  7. ^ a b "Nike to Sell Cole Haan to Apax Partners for $570 Million". New York Times. Retrieved February 20, 2013.
  8. ^ "to Divest of Cole Haan and Umbro to Focus on Accelerating Growth Through Nike and Complementary Sport Brands". Nike, Inc. Retrieved June 1, 2012.
  9. ^ "Apax Partners Completes Acquisition Of Cole Haan; Industry Veteran Jack Boys Named As Cole Haan's CEO". PR Newswire. Retrieved February 12, 2013.
  10. ^ "Fashion, technology in step with these heels". Chicago Tribune. Retrieved February 20, 2013.
  11. ^ "Oprah's discovery of high heeled comfort". Youlookfab. Retrieved February 20, 2013.
  12. ^ "Nike's Cole Haan to go fur-free". Forbes. February 25, 2008. Retrieved February 10, 2013.
  13. ^ "Cole Haan:Stepping towards innovative solutions" (PDF). Natural Resources Council of Maine. Retrieved February 20, 2013.
  14. ^ "Maria Sharapova for Cole Haan". Fashion Windows. February 10, 2009. Retrieved February 10, 2013.
  15. ^ "Execs Upbeat On New Cole Haan CEO". Women's Wear Daily. Retrieved February 15, 2013.

External links edit

Category:Shoe companies of the United States Category:Shoe brands Category:Nike brands Category:Companies based in Chicago Category:Companies based in Maine Category:Companies established in 1928


   

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