ike is on a spree of divesting its lesser known lines. The latest has been selling of the Starter brand, to the Iconix Brand Group for $60 million. The Starter brand which first appeared in the year 1971, is known for its line of clothing, footwear and licensed apparel. It has pioneered the league of licensed apparel business through deals with MLB (Major League Baseball), the NBA (National Basketball Association), NHL (National Hockey League) and NFL (National Football League). Under Nike�s ownership the Starter brand had strengthened its product design and development capabilities.

Iconix also licenses and markets such brands as Joe Boxer, London Fog and Danskin. Nike is confident that the Iconix Brand Group would be committed to investing in and developing this brand further. The companies expect to complete the transaction sometime this month. ... more