Boys, who was CEO of Converse for ten years, commented: “I am thrilled to work with the Cole Haan team to build on the brand’s incredible legacy. From the time Trafton Cole and Eddie Haan launched the business 85 years ago, Cole Haan has established a history of outstanding craftsmanship, innovative design and exceptional quality. Now, as an independent company, we have an exciting opportunity to expand upon the Cole Haan tradition, deliver new, consumer-driven products and grow as a lifestyle brand with a global footprint.”
“We are very pleased to be partnering with Jack and the employees of Cole Haan as the company embarks on the next chapter of its growth,” added Apax CEO John Megrue.
Apax Partners announced its $570 million acquisition of Cole Haan from Nike in November last year.
“The decision to divest of Cole Haan allows us to sharpen our focus on opportunities with the highest potential for strong returns, and to make sure the brands within the Nike portfolio are the most complementary to the Nike Brand,” Nike CEO Mark Parker said at the time.