Nike owns Converse. Indeed, Converse is an independent brand within Nike, which has its operations, while it’s integrated into Nike’s wholesale distribution strategy. Nike is owned by the Knight family (who founded the company). Nike acquired Converse in 2003 for $305 million. Converse generated $2.35 billion in revenue in 2022.
In a $305 million deal, Nike acquired ownership of Converse in 2003.
To put the deal in context, Converse, which was founded in 1908, it was almost a century-old, iconic shoe company.
Yet by the early 1990s, the company was going bankrupt.
While by the early 2000s, the brand had been strengthened, it still struggled financially.
Converse has iconic brands like Chuck Taylor, All Star, One Star , and Jack Purcell.
Read: Converse Business Model.