The historic sneaker brand Converse was acquired by Nike in 2003 for approximately $300 millions. The star brand, having experienced a golden age with its famous Chuck Taylor and its place in the American basketball championship, was indeed experiencing some financial difficulties. In the history of Converseand in the 70s, the brand had not been able to make the necessary shift to meet the growing demand for sports shoes. These bad decisions will lead the brand to bankruptcy in 2001, accumulating more than 226 million debts.
When Converse meets Nike, You could say Nike did it right! In 2018, Converse's turnover increased from $200 million to more than $720 million! Converse is experiencing a revival in the world of basketball thanks to the distribution network of its parent company Nike: fashion stores and concept stores.
When Converse entered the world of fashion and lifestyle, it underwent a huge shift in terms of business. These were no longer shoes categorized in sport but in fashion. Add a good dose of marketing as Nike knows how to do it so well and you have the success story of Converse Nike version.
The production strategy is also completely revised. The star brand now offers more than 3000 pairs per year by multiplying collaborations and exclusive models. The famous Chuck Taylor then experienced a second youth with an astronomical figure of 30,000 pairs sold per week. The pair of basketball shoes then became the world's best-selling shoe with more than a billion pairs sold worldwide.
The brand's flagship model has been declined in countless colorsways, materials, collaborations... In canvas, goretex, leather, plastic.... United, Printed, Patched... Off White, Comme des Garçons, Golf le Fleur... The list is long!
Nike brought its technological know-how to the famous Chuck Taylor by creating the Chuck Taylor 2. Based on its big sister, this new generation Converse sneaker offers a whole lot of Nike technology inside. The Lunarlon sole is made of foams of different densities and brings comfort & lightness to the pair. This sole is excellent for a wide range of sports activities requiring flexibility and dynamism such as basketball, tennis, skateboarding, or running.
So we can really talk about Converse before Nike and Converse after Nike. The American giant has been able to appropriate the brand's DNA under the star to add its know-how. The resulting explosive mixture is not about to disappear from our sight. The more original collaborations than the others continue to rain to the delight of sneakerheads and collectors.
About Converse History :
