Which upscale footwear company was Nike's first acquisition in 1988?

Cole Haan was Nike’s first acquisition in 1988. Nike bought the upscale footwear and accessories company as it looked beyond performance athletic shoes and into dress, casual and lifestyle products.

Founded in 1928, Cole Haan had built its reputation around premium leather footwear and bags. The acquisition gave Nike a more established presence in fashion-oriented footwear, a market distinct from its core running, basketball and training businesses. Cole Haan remained a Nike-owned brand for more than two decades.

A frequent mix-up is Converse, which Nike acquired in 2003, or Umbro, acquired in 2008. Starter was also a later purchase, announced in 2004. Nike eventually sold Cole Haan and Umbro in 2012 to concentrate more closely on its own brand and selected athletic businesses. The 1988 purchase therefore marks the beginning of Nike’s acquisition strategy, even though later deals attracted more public attention.