Nike has been planning to diversify a couple of brands from its umbrella to put more focus on its own growth. Today, the Swoosh has announced plans to sell Umbro to the Iconix Brand Group. Iconix's current portfolio includes Mossimo, Rocawear, Ed Hardy, and Zoo York, and will be adding the English soccer brand to its line up for $225 million. Considering that Nike acquired Umbro back in 2008 for $580 Million, Iconix is getting a real steal. Nike will continue to sell soccer gear under the Nike Football line. Now, Nike's just waiting on the right bid for Cole Haan.

[via nytimes]