Nike kicks out Umbro and Cole Haan as buyers sought "Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for Nike, to continue to drive sustainable, profitable growth for our shareholders," Mark Parker, Nike's chief executive, said. Nike, which is the world's largest sportswear company, said it "is too early to estimate the impact of these transactions." Last month, Adidas said it would slash its product range in order to improve its profitability, but Nike insisted its decision to sell Umbro and Cole Haan was not a reaction to its smaller rival's strategy. Paul Swinand, an analyst at Morningstar, said he expected Umbro and Cole Haan to be picked up by sportswear rivals, rather than by private equity firms. "[This move] says Nike doesn't need side brands and they get better returns from the core Nike brand," he said. Umbro was founded in 1924 in Wilmslow, Cheshire, by brothers Harold and Wallace Humphreys. It makes kits for numerous national and club football teams across Europe.