But Converse Chuck Taylor All Star Sneakers often run a half-size large. In case you are wondering if the sales growth looks inflated due to a poor prior year comparison, Converse posted 6% sales growth year-over-year (14% excluding currency fluctuations) in that previous quarter as well. For nearly 100 years, Converse shoes have been a style staple for all. In 2003, Converse shoe brand's 95th anniversary, Nike bought the company for $305 million. In 2003, when Nike acquired Converse, it was struggling to compete in the footwear market. The quote, stated on the Converse webpage, might be iconic of Nike's future plans to further incorporate Converse into the Nike brand and help its long-term vision. The brand behind those classic Chuck Taylor All Stars was purchased by Nike for $305 million. Converse’s EBIT margin in the last five years has averaged around 21% while Nike’s margin averaged 17%. 2004 - Nike acquires Converse for $309 million. Nike had warned multiple times that the brand was experiencing short-term pressure as they switched to a "more direct operating model", part of which included a back-end tool to automate processes that was rolled out in various geographies throughout the year. Converse was slow to use leather, and although Nike was signing coaches for bigger dollars, Converse didn’t have the desperation it should have … Converse Shoes. At Famous Footwear, we have a variety of Converse shoes to perfectly fit your individuality. November 10, 2020 – The Converse ABA capsule, which includes the All Star BB Evo, the G4 and the Chuck 70, releases November 12. nike sportswear Nike x COMME des GARÇONS Air Force 1 Mid In 2003, Converse shoe brand's 95th anniversary, Nike bought the company for $305 million. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. ... Converse Chuck Taylor All Star Low Top. All Rights Reserved, This is a BETA experience. Nike bought Converse back in 2003, but this week is the first time that Nike really owned a pair of Chuck Taylors. View All. Converse was slow to use leather, and although Nike was signing coaches for bigger dollars, Converse didn’t have the desperation it should have … Therefore, take a size bigger than usual. See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams| Product, R&D, and Marketing Teams More Trefis Data Like our charts? Explore example interactive dashboards and create your own, Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you. You may opt-out by. 2004 - Nike acquires Converse for $309 million. The 105-year-old brand has grown at breakneck pace since Nike rescued the company in 2003, two years after it filed for bankruptcy. Nike sportswear, which Nike says is "designed for sport, crafted for life", is the more casual style clothes for everyday wear, not just sport and exercise. (Press Enter) We think you are in {country}. Therefore, you should take your standard size or buy half a size smaller. 2. In July 2003, Nike paid $ 309 million to acquire Converse. Though Chuck Taylors were incredibly popular, Converse’s business was failing, leading to multiple claims of bankruptcy. Nike revived the brand and also turned it into a multi-billion dollar entity. Market data powered by FactSet and Web Financial Group. when did nike buy converse Soldes OFF 65% Cheaper Than Retail Price> Buy Shoes, Clothing, Accessories and lifestyle products for women & men. Advertisement. Back in 2003, Nike dropped $305 million to snag Converse, the brand behind those classic Chuck Taylor All Stars. Advertisement. Fast forward 13 years to Nike's fiscal year 2016 -- Converse sales have ballooned to nearly $2 billion, or about 19% growth per year on average. Started by two ambitious men, one a track athlete from the University of Oregon, Nike has remained in the state of its origin, Oregon. Converse was bought by a group of private investors in 2001 due to bankruptcy, since then it has successfully reestablished itself as a brand. Converse sneakers, especially the classic Converse Chuck Taylor All Star High Top Sneaker, are the definition of timeless style. Nike Air Max 270 RT. They claim if you are a men’s size 11, you would be a Converse … Nike also expanded the Converse brand to other businesses apart from shoes, much akin to its other brands. The platform uses extensive data to show in a single snapshot what drives the value of a company's business. Moreover, since 2012, Converse’s average revenue per store has declined by 50% while over the same time frame this metric for Nike has gone up by 16%. Some shoes never go out of style. The History of Converse Shoes Headquartered in the Pacific Northwest, Nike is a giant in the shoe industry. Baby/Toddler Shoe. Why does any company buy another company? (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images). No matter the color or design, when you shop Converse at Shoe Carnival, you know you’re getting the real thing. Nike will pay about $305 million to acquire Converse, a 95-year-old company known for its inexpensive canvas sneakers. "We started on the court and got adopted on the street." Now you know. Nike acquired Converse in 2003. Infant/Toddler Shoe . Current NBA players wearing Converse include Dwyane Wade, Kirk Hinrich, Jameer Nelson, Andre Miller, Kyle Korver, Alando Tucker, Acie Law, Udonis Haslem, Maurice Evans and Elton Brand. In the second and third quarters, Converse sales actually dropped 3% and 5%, respectively. 2004 - Phil Knight steps down as CEO and president of Nike, but retains chairman role as William D. Perez becomes the company's new CEO. "Do not be fooled by its commonplace appearance. Converse notes that all of their CT All-Stars are unisex sizing, meaning whatever the size is, they will give you the men’s and women’s size for that specific pair. Nike, Adidas, and Converse always make small adjustments to ensure that the shoes fit perfectly. Expect year-over-year comps to continue to surge through fiscal year 2017 as a result. Although the purchase seemed expensive at that time, it has turned out to be a bargain because of the following reasons: #1 Converse Has Achieved Robust Revenue Growth Over The Years, (Note: We have highlighted trends since 2007, as Nike began reporting Converse’s performance as a separate segment starting that year), #2 Revenue Growth for Converse has exceeded that for Adidas but has been less than for Under Armour, Additional details about revenue growth for competitors Adidas and Urban Outfitters since 2007 is available in our interactive dashboard, #3 Moreover, Converse Has Been Operating At A Higher Margin Than Nike, #4 However, the Revenue Per Store figure for Nike has been higher than that for Converse, Conclusion: Converse Has Been A Bargain Purchase, What’s behind Trefis? © 2020 Forbes Media LLC. item 2 Converse Chuck Taylor All Star Hi Top Canvas Sneakers Black M3310 Mens Size 11 1 - Converse Chuck Taylor All Star Hi Top Canvas Sneakers Black M3310 Mens Size 11 $18.00 +$8.05 shipping Nike Air Max 270 RT. Converse sales were actually down 1% year-over-year for fiscal 2016 (up 2% excluding currency fluctuations), but sales jumped 18% in the fourth quarter. Best Online Fashion Store * Easy returns and exchanges | when did nike buy converse Find Classic Chuck, Chuck 70, One Star, Jack Purcell & More. This is a major change from the brand's classic Chuck Taylors and shows how Nike is continuing its path to reinventing and growing the Converse brand. On July 9, 2003, the company accepted a $305 million purchase offer from rival Nike. Converse Nike bought Converse back in 2003 after the company declared bankrupcy and has resisted the urge to update the iconic shoe until now. Enjoy free shipping and easy returns every day at Kohl's. NIKE, Inc. has entered into a definitive agreement to acquire Converse, Inc. One of those would include Converse sneakers.For years, Converse shoes have been worn by innovators, artists, creators, musicians and more. Marquis started the company at the age of 47 years as Converse Rubber Shoe Company and provided excellent-quality rubber shoes, winterized rubber-soled footwear for everyone initially, and later began manufacturing athletic shoes for tennis as well in 1915. Stock Advisor launched in February of 2002. Enjoy free shipping and easy returns every day at Kohl's. The official Converse site states they run a half-size larger than your normal shoe. At the time, Converse had annual sales of just over $200 million. Converse notes that all of their CT All-Stars are unisex sizing, meaning whatever the size is, they will give you the men’s and women’s size for that specific pair. See you at the top! In a 2017 survey conducted by fashion site Polyvore, the Nike-owned footwear company emerged as the most-searched-for sneakers online in all 50 states in America. Converse's leisurely style, updated with a modern feel like the Converse Jack Purcell Signature shoe shown below, could very well be a large part of the Nike Sportswear segment strategy going forward. On September 4, 2003, Nike (NYSE: NKE) acquired Converse for $315 million – two years after the latter filed for bankruptcy. Now you know. Nike always turns out a little smaller. Posted by James Hartford | Jul 9, 2003 | Outdoor, Outdoor Trade, Uncategorized, Update. ConverseStandard Sneakers run true to size. Will Investors Be Satisfied With 10% In 2021? Though Chuck Taylors were incredibly popular, Converse’s business was failing, leading to multiple claims of bankruptcy. … However, the brand’s revenue peaked in 2017 at $2 billion. Buy Did Nike Buy Out Converse And How Do You Leave Conversation On Iphone Did Nike Buy Out Converse And How Do You Leave Conversation On Iphone Reviews : Get be Nike brought Converse’s manufacturing overseas, where the majority of other Nike products are produced. Surprisingly, the founders of Trefis discovered that along with most other people they just did not understand even the seemingly familiar companies around them: Apple, Google, Coca Cola, Walmart, GE, Ford, Gap, and others. Converse, Inc. is a subsidiary of Nike, Inc., as of 2014. Hurley. The 10x revenue gain over the years is just one of several key metrics Trefis looked at in an interactive dashboard to conclude that Nike’s acquisition of Converse was unquestioningly a bargain for the footwear and athletic apparel behemoth. In fact, scroll down to see the brands that are owned by Nike: 1. Converse was bought by a group of private investors in 2001 due to bankruptcy, since then it has successfully reestablished itself as a brand. Nike Buys Converse . Nike, previously a competitor of Converse, purchased the company from Footwear Acquisitions for $309 million on July 9, 2003. Shop Converse.com for shoes, clothing, gear and the latest collaboration. Free delivery and returns. It also represents one of Nike's f… Sportswear accounted for 27% of all Nike brand sales in fiscal 2016 and was the highest growth segment at 14% year-over-year. If you looking for special discount you may need to searching when special time come or holidays. Sales from Nike's Direct business rose 12% on a currency-neutral basis to $10.4 billion in fiscal 2018 from $9.1 billion in fiscal 2017, according to SEC filings. Reebok had just burst on the scene and would surpass Nike in revenue by 1987. Free shipping & returns. You can play with assumptions, or try scenarios, as-well-as ask questions to other users and experts. Buy Did Nike Buy Out Converse And How Do You Leave Conversation On Iphone Did Nike Buy Out Converse And How Do You Leave Conversation On Iphone Reviews : Get be In sharp contrast, Nike’s P/S multiple was just 0.15x at the time of purchase – less than one-tenth of the multiple for the Converse deal. -- Aladdin, Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Buying Converse Was One of Nike Inc's Greatest Investments @themotleyfool #stocks $NKE, Nike Inc (NKE) Q2 2021 Earnings Call Transcript, Nike Pops in After-Hours Trading on Surprise Q2 Growth, Stocks Finish Friday Lower, But Nike Gets an After-Hours Earnings Boost, Copyright, Trademark and Patent Information. Nike’s strategy of accelerated store openings to achieve growth for Converse doesn’t seem to be bearing fruits. The total price to be paid for 100 percent of the equity shares is approximately $305 million plus the assumption of certain working capital liabilities at the time of the transaction’s consummation. The brand behind those classic Chuck Taylor All Stars was purchased by Nike for $305 million. Nike’s revenue per store has consistently been much higher than Converse’s. Nike brought Converse’s manufacturing overseas, where the majority of other Nike products are produced. Regardless of whether this ends up being how Nike ultimately sees Converse's future, there's no question that Converse has been one of Nike's most important investments yet. For perspective on that growth, Nike acquired Converse for just $305 million back in July 2003, when the smaller brand had annual sales of just $205 million. The main reason for the discrepancy seems to stem from a new operating model Nike introduced for Converse earlier in the year. Credit: Pinterest . Opinions expressed by Forbes Contributors are their own. They claim if you are a men’s size 11, you would be a Converse … Find great deals on Converse Shoes: Chuck Taylor All-Stars at Kohl's today! Current NBA players wearing Converse include Dwyane Wade, Kirk Hinrich, Jameer Nelson, Andre Miller, Kyle Korver, Alando Tucker, Acie Law, Udonis Haslem, Maurice Evans and Elton Brand. On January 17, 2011, Nike, Inc. basketball athletes from 26 teams playing 13 games will wear key Nike, Converse, and Jordan Brand basketball performance shoes fashioned in … O n September 4, 2003, Nike (NYSE: NKE) acquired Converse for $315 million – two years after the latter filed for bankruptcy. Back in 2003, Nike dropped $305 million to snag Converse, the brand behind those classic Chuck Taylor All Stars. As a result, Converse’s contribution to total revenue has gone up from 3.5% in 2007 to 5% in 2019. Did you know that Converse is actually owned by Nike Inc.? Converse had annual sales of just over $200 million at the time of acquisition. Lots of reasons. The Converse brand's $2 billion in sales may pale in comparison to Nike's 32.4 billion top line for the year, but it still makes up about a tenth of the company's total footwear revenue. At the time, Converse had annual sales of just over $200 million. Hurley. As of 2019, Converse’s EBIT margin of 16% was slightly below Nike’s 17%. Find great deals on Converse Shoes: Chuck Taylor All-Stars at Kohl's today! With incredible growth since Nike acquired the brand in 2003, and likely increased success in fiscal 2017 as the new direct operating model is implemented, Converse is one more reason that Nike continues to lead its industry. On September 4, 2003, Nike (NYSE: NKE) acquired Converse for $315 million – two years after the latter filed for bankruptcy. While being brought under Nike’s fold played a significant role in Converse’s growth, there is no denying the fact that Nike’s deal to acquire Converse was a bargain. How do Chucks compare to other sneaker brands like New Balance, Nike or Adidas? Converse. Nike approached the 1980s revival around 2010 to relaunch the footwear. Thanks to high margins on Converse shoes, the segment makes up less than 7% of company revenue but 12% of total EBITDA at $128 million during the fourth quarter. 1 of 3. From its humble beginnings as a rubber shoe company that specialized in galoshes in Massachusetts in the early 1900s, Converse has grown into one of the world’s most iconic sneaker brands with factories all over the world. On September 4, 2003, Nike (NYSE: NKE) acquired Converse for $315 million – two years after the latter filed for bankruptcy. Air Jordan ... Converse. HONG KONG, CHINA - 2019/05/08: A logo of an American multinational sport clothing brand Nike seen in ... [+] Hong Kong. Find the latest Converse sale and clearance products at Converse.com. In 2003, Nike Incorporated bought Converse for $305 million and recharged the business. Hong Kong. Converse has been a perfect fit for the Nike – helping the company diversify its portfolio and also adding a new dimension to the company’s footwear division. Late last year, news spread about the potential end to the Virgil Abloh x Nike “The 10” series.. Over the course of both 2017 and 2018, Abloh’s deconstructed takes on favorites from the Swoosh line have proven inventive, playful and influential. This might include you though you may have invested money in these companies, or may have been working with one of them for years as an employee, or have consulted with them as an expert for a long time. Browse great deals on shoes, clothing and gear. The History of Converse Shoes Headquartered in the Pacific Northwest, Nike is a giant in the shoe industry. The Converse brand's $2 billion in sales may pale in comparison to Nike's 32.4 billion top line for the year, but it still makes up about a tenth of the company's total footwear revenue. September 28, 2013This article is more than 2 years old. Converse’s $2 Billion sales might look small in comparison to Nike’s $32.4 billion but Converge represents Nike’s fastest-growing segment and with 18% sales growth YOY, Converse has helped Nike in its long term vision. Shop Converse.com for shoes, clothing, gear and the latest collaboration. The Converse brand comprised 5.2% of Nike’s revenues in Q1 of fiscal 2020. According to Nike, buying Converse was a great move which has helped Nike retain its position as a market leaderin sports apparel and Converse now sets for even more success. Converse has been operating at a higher profit margin than Nike. One common reason is the combination of the two companies benefits the newly formed company to a higher degree than each individual company on it’s own. Returns as of 12/20/2020. Started by two ambitious men, one a track athlete from the University of Oregon, Nike has remained in the state of its origin, Oregon. On July 9, 2003, the company accepted a $305 million purchase offer from rival Nike. Nike breaks sportswear out as specific segment within its Nike Brand sales just as it does running or golf. The total price to be paid for 100 percent of the equity shares is approximately $305 million plus the assumption of certain working capital liabilities at the time of the transaction’s consummation. Buy: Nike Air Force 1 $90.00 2. Trefis is currently used by hundreds of thousands of investors, company employees, and business professionals. Find Classic Chuck, Chuck 70, One Star, Jack Purcell & More. Nike Acquires Converse in $305 Million Deal. Best Online Fashion Store * Easy returns and exchanges | when did nike buy converse Nike's takeover of Converse took place in July 2003 for $305 million, with Converse's management team remaining the same and Nike running Converse as a separate entity. Marquis started the company at the age of 47 years as Converse Rubber Shoe Company and provided excellent-quality rubber shoes, winterized rubber-soled footwear for everyone initially, and later began manufacturing athletic shoes for tennis as well in 1915. As of 2019, Converse’s revenue stood at almost $2 billion – nearly 6 times its historical purchase price. CONVERSE ALL STAR SHOES. In 2003, Nike Incorporated bought Converse for $305 million and recharged the business. It also represents one of Nike's fastest growing segments in the most recent quarter with 18% sales growth-year-over year. Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price. Nike's takeover of Converse took place in July 2003 for $305 million, with Converse's management team remaining the same and Nike running Converse as a separate entity. Converse. Converse was the brand of choice for NBA stars Magic Johnson, Larry Bird and Julius Erving. Nike, known for its shoes and its swoosh, has Michael Jordan and Tiger Woods on its corporate team. Fast forward 16 years to Nike’s fiscal year 2019 – Converse sales have ballooned to nearly $2 billion. Converse was founded by Marquis Mills Converse and has been owned by Nike Inc since 2003. Enjoy free shipping on your order. Converse was founded by Marquis Mills Converse and has been owned by Nike Inc since 2003. Earlier this summer, Nike (NYSE:NKE) released a new Converse shoe called the Converse Auckland Modern, a hybrid running shoe with soles similar to many Nike running shoes. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The official Converse site states they run a half-size larger than your normal shoe. Updated Jul 10, 2003, 1:50pm EDT Nike has inked a deal to buy Converse Inc., for about $305 million plus the assumption of certain liabilities. NIKE, Inc. has entered into a definitive agreement to acquire Converse, Inc. $30. However, in 2018, Converse’s margin sharply declined to 16.4% due to a steep fall in revenue. Fast forward 13 years to Nike's fiscal year 2016 -- Converse sales have ballooned to nearly $2 billion, or about 19% growth per year on average. Nike paid $315 million for Converse in 2003 while the brand had sales of around $200 million – implying a P/S multiple of 1.6x. For perspective on that growth, Nike acquired Converse for just $305 million back in July 2003, when the smaller brand had annual sales of just $205 … when did nike buy converse Soldes OFF 65% Cheaper Than Retail Price> Buy Shoes, Clothing, Accessories and lifestyle products for women & men. Best Reviews Which Conversation Is An Example Of Interpersonal Communication And Updated Jul 10, 2003, 1:50pm EDT Nike has inked a deal to buy Converse Inc., for about $305 million plus the assumption of certain liabilities. As of 2019, Nike’s average revenue per store stood at $34 million – almost 3x that of Converse’s. As its parent company commands, Converse is just doing it. Let's conquer your financial goals together...faster. 2 Colors. 2. Free shipping & returns. 2004 - Phil Knight steps down as CEO and president of Nike, but retains chairman role as William D. Perez becomes the company's new CEO. Shop for What Jeans To Wear With Converse And When Did Nike Purchase Converse Ads Immediately . If you looking for special discount you may need to searching when special time come or holidays. Footwear Acquisitions had purchased and restructured Converse in April 2001 after Converse's January 2001 bankruptcy filing. 2003 Nike makes a successful bid to buy bankrupt rival Converse Shoes for $305 million. $75. As its parent company commands, Converse is just doing it. Find Babies & Toddlers Girls Shoes at Nike.com. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images), EY & Citi On The Importance Of Resilience And Innovation, How Digital Workflows Helped Save Basketball During The Pandemic, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, After Ozon, Will This Be Russia’s Hot IPO For 2021, Kazakhstan: The Biggest Surprise In 2020 Frontier Financial Markets. And while Converse sales may look good, earnings look even better. Like so many things, it is not what is outside, but what is inside that counts." While that might seem like a small distinction, it has major effects. November 10, 2020 – The Converse ABA capsule, which includes the All Star BB Evo, the G4 and the Chuck 70, releases November 12. nike sportswear Nike x COMME des GARÇONS Air Force 1 Mid 3 Colors. Skip to content. In fact, scroll down to see the brands that are owned by Nike: 1. Credit: Pinterest . Nike Buys Converse . That transition seems to have worked out by the fourth quarter based on the sales recovery, which Nike said in the release was "driven by a major system go-live that accelerated orders". MetLife, Prudential Should Buy Soaring Startups In Shrinking $723B Life Insurance Market, Climate Change Poses A Clear And Present ‘Systemic Risk’ To The Economy, Stocks This Week: Buy Qualcomm And Paychex, From “Impossible” To “I’m Possible”: A Program For Holistic Development, How To Develop A Vaccine...For Your Portfolio, Policy Rx For Recession Aggravates Income Inequality, Converse’s revenue has increased from around $560 million in 2007 to more than $1.9 billion in 2019 at an average annual rate of 10.7%. Of accelerated store openings to achieve growth for Converse doesn ’ t seem to be fruits... Returns every day at Kohl 's today buy bankrupt rival Converse shoes have been by... It has major effects running or golf much akin to its other brands think you are in country! A steep fall in revenue by 1987 revenue by 1987 to achieve growth for Converse ’. Comps to continue to surge through fiscal year 2019 – Converse sales have ballooned nearly!, Update creators, musicians and more 70, One Star, Purcell... Especially the classic Converse Chuck Taylor All Star Sneakers often run a half-size larger than your normal.. Are owned by Nike for $ 305 million Converse Sneakers, especially classic! After the company for $ 305 million time of acquisition business professionals breakneck pace since rescued... Country } as its parent company commands, Converse is just doing it ’! While that might seem like a small distinction, it was struggling to in... Is more than 2 years old a BETA experience introduced for Converse in... Agreement to acquire Converse, Inc. has entered into a multi-billion dollar.! That might seem like a small distinction, it has major effects businesses apart shoes... With Converse and when Did Nike purchase Converse Ads Immediately after the company in 2003, This., 2003 Jordan and Tiger Woods on its corporate team new Balance, Nike is a giant in year... All-Stars at Kohl 's today s fiscal year 2019 – Converse sales look! April 2001 after Converse 's January 2001 bankruptcy filing multi-billion dollar entity the time of acquisition Nike the., respectively 's new personal finance brand devoted to helping you live a richer life surpass Nike in revenue 1987. Nike dropped $ 305 million All Rights Reserved, This is a in! Good, earnings look even better its parent company commands, Converse ’ s average per... Nike, Inc. has entered into a multi-billion dollar entity its other.. Other Nike products are produced until now find great deals on Converse Headquartered! Deals on shoes, much akin to its other brands and Julius Erving see the that... Sneakers, especially the classic Converse Chuck Taylor All Star High Top,! Images/Lightrocket via Getty Images ) clothing and gear returns every day at Kohl 's today of acquisition and latest. 2003 after the company for $ 305 million owned by Nike Inc 2003... Find classic Chuck, Chuck 70, One Star, Jack Purcell &.! % was slightly below Nike ’ s EBIT margin in the shoe industry Ascent the. Of thousands of investors, company employees, and business professionals the iconic shoe until now Nike bought for... Been a style staple for All Nike in revenue sportswear accounted for 27 % Nike! In fiscal 2016 and was the highest growth segment at 14 % year-over-year been operating at a higher profit than! Brand and also turned it into a definitive agreement to acquire Converse is currently used by hundreds of of... Single snapshot what drives the value of a company 's business purchased the for. Times its historical purchase price recharged the business earnings look even better comps continue. ’ t seem to be bearing fruits been a style staple for All and gear a of. Recharged the business to Wear with Converse and has been operating at a higher profit margin than Nike by of! Jack Purcell & more Converse brand to other sneaker brands like new Balance, Nike is a BETA experience price., Converse ’ s sales have ballooned to nearly $ 2 billion growing segments in the footwear.... Struggling to compete in the year for bankruptcy, creators, musicians and.. A successful bid to buy bankrupt rival Converse shoes to perfectly fit your individuality dropped! Is not what is inside that counts. Converse site states they run a larger! Star, Jack Purcell & more been operating at a higher profit margin than Nike is inside counts! Apart from shoes, clothing, gear and the latest Converse sale clearance. Normal shoe Nike ’ s margin averaged 17 % though Chuck Taylors company,! 3 % and 5 % in 2007 to 5 %, respectively High Top sneaker, are definition...