Nike, Inc. owns three brands: NIKE, Jordan and Converse. In fiscal 2026 (to 31 May 2026) revenue was $46.4 billion: NIKE Brand $45.2 billion, of which Jordan Brand $7.0 billion, and Converse $1.2 billion, down 31%. Phil Knight’s Swoosh, LLC holds 78.8% of the Class A shares that elect most of the board.
Sources: NIKE Form 10-K for fiscal 2026 and 2026 proxy statement (SEC EDGAR). Analysis by The Business Engineer.
How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q and earnings releases, or its annual report), with the period stated next to each number. Last refreshed October 2026. Our methodology.
Video: Nike, explained in about a minute. Tap for sound. Built from the company’s own filings.
NIKE’s footwear empire moves along three leading brands: NIKE, Jordan, and Converse. Through wholesale distribution, Nike generated $51.22 billion in revenue (comprising Jordan and Converse), primarily from footwear. Jordan passed $6.6 billion in revenue in 2023, and Converse generated over $2.4 billion in the same year.
Nike generated most of its revenue from footwear. Indeed, in 2023, Nike generated over $33.13 billion in revenue from footwear, $13.84 billion in apparel, $1.73 billion in equipment, and $2.43 billion from the Converse brand.
The NIKE Brand is focused on the following:
Performance athletic footwear,
Apparel,
Equipment,
Accessories and services across Men’s, Women’s, and Kids’,
These are amplified with a sport-inspired lifestyle.
The Business Engineer view: Nike is one brand with a famous sub-brand
Source: NIKE Form 10-K for fiscal 2026 and 2026 proxy statement (SEC EDGAR). Analysis by The Business Engineer.
By revenue, Nike is overwhelmingly the NIKE brand: footwear $29.5 billion, apparel $13.4 billion and equipment $2.2 billion inside NIKE Brand’s $45.2 billion.
Jordan is the exception that proves the rule: a $7.0 billion sub-brand built on one athlete, reported inside NIKE Brand. Converse is the separate brand, and it is shrinking: revenue fell 31% to $1.2 billion and its EBIT fell to $18 million, from $474 million two years earlier.
The regional margins show where Nike earns: North America 26.2% EBIT margin, Greater China 21.9%, Europe 19.2%; Converse 1.5%.
The compression: Nike’s portfolio is a single global brand plus Jordan; Converse is in a reset. See is Converse owned by Nike.
Nike in charts
North America +5%; Greater China โ11%, Converse โ31%. Source: Nike Form 10-K for fiscal 2026 (year to 31 May 2026, SEC EDGAR). Analysis by The Business Engineer.Footwear is 65% of NIKE Brand product sales; apparel grew 4%. Source: Nike Form 10-K for fiscal 2026 (year to 31 May 2026, SEC EDGAR). Analysis by The Business Engineer.
Jordan
Jordan follows a demand generation businessmodel, where its iconic brand works as a propeller for the sale of its footwear and apparel, which in 2023 generated $6.59 billion in revenue for Nike or 12.8% of its total revenue.
The Jordan Brand is focused on inspiring footwear, which has become iconic for many.
Nike’s Business Model Highlights:
Leading Brands:
Nike’s empire is built around three leading brands: NIKE, Jordan, and Converse.
These brands contribute significantly to the company’s revenue and brand recognition.
Revenue Streams:
Nike generated $46.7 billion in revenue through wholesale distribution in 2022, which includes revenue from NIKE, Jordan, and Converse.
Footwear constitutes a major portion of Nike’s revenue, with over $29 billion generated in 2022.
Individual Brand Performance:
The Jordan brand surpassed $5 billion in revenue in 2022, making it a significant contributor to Nike’s overall revenue.
Converse generated over $2.3 billion in revenue in the same year.
Product Categories:
NIKE Brand offers a range of products including performance athletic footwear, apparel, equipment, accessories, and services across various categories (Men’s, Women’s, and Kids’).
The brand also embraces a sport-inspired lifestyle approach.
Jordan Brand Strategy:
The Jordan Brand operates on a demand generation businessmodel, leveraging its iconic status to drive sales of footwear and apparel.
In 2022, the Jordan Brand generated over $5 billion in revenue, accounting for more than 10% of Nike’s total revenue.
Emphasis on Footwear:
Nike’s core revenue comes from the sales of footwear, underlining the brand’s strength in this category.
Diverse Product Offerings:
Nike’s product portfolio includes not only footwear and apparel but also equipment and accessories, offering a wide range of choices to consumers.
Sport-Inspired Lifestyle:
Nike extends beyond performance-oriented products, embracing a lifestyle approach that resonates with sport and fashion enthusiasts alike.
Wholesale Distribution:
Nike’s revenue is generated through wholesale distribution, indicating its widespread presence in various retail channels.
Converse is an independent brand part of Nike’s family of brands. Indeed, Converse generated $2.35 billion in revenue in 2022. And like Nike, it follows an heavy Wholesale distributionstrategy, where most of its sales are made, through footwear. However, Converse also follows a direct distribution approach, selling directly via its mono-brand stores.
The Knight family owns Nike. Indeed, the top individual shareholder is Travis A. Knight, son of Philip Knight, co-founder of Nike, with a 7% stake in Class A stocks and a 2.4% stake in Class B stocks. On the other hand, the Knight family also controls the company tightly through their Trusts and an LLC called Swoosh (the Nike logo’s shape is a “swoosh”). Through individual shares, Swoosh LLC, and Travis Knight’s irrevocable trust, the Knight family controls over 97% of Class A and 21% of Class B stocks.
Nike follows a wholesale strategy combined with a very strong direct distributionstrategy. The company makes money primarily from footwear, which represented over 64% of its total revenues in 2023, followed by apparel (27%). The most successful Nike brand is the Jordan Brand, which in 2023 generated $6.6 billion in revenue. Nike is the master of demand creation and generation through its influencer campaigns, where athletes become an inspiration for everyday people.
Nike leverages both a wholesale and direct distributionstrategy. Indeed, while still in 2023, most sales come from wholesale distribution, in reality, since 2020, Nike has been ramping up its direct distribution through its NIKE stores and e-commerce platform (SNKRS).
Nike generated most of its revenue from footwear. Indeed, in 2023, Nike generated over $33.13 billion in revenue from footwear, $13.84 billion in apparel, $1.73 billion in equipment, and $2.43 billion from the Converse brand.
Nike generated $51.22 billion in revenue in 2023 and over $5 billion in net profits, compared to over $46.71 billion in revenue and $6.05 billion in profits for 2022.
Nike’s vision is “To bring inspiration and innovation to every athlete in the world.” At the same time, its mission statement is to “do everything possible to expand human potential. We do that by creating groundbreaking sports innovations, by making our products more sustainably, by building a creative and diverse global team, and by making a positive impact in communities where we live and work.”
Jordan follows a demand generation businessmodel, where its iconic brand works as a propeller for the sale of its footwear and apparel, that in 2022 generated more than $5 billion in revenue for Nike or more than 10% of its total revenue.
Converse is an independent brand part of Nike’s family of brands. Indeed, Converse generated $2.35 billion in revenue in 2022. And like Nike, it follows an heave Wholesale distributionstrategy, where most of its sales are made, through footwear. However, Converse follows also a direct distribution approach where it sells directly via its monobrand stores.
Michale Jordan is a billionaire but doesn’t own the Jordan brand, which is part of Nike. Yet, he gets 5% royalties on the sales of Jordan. For instance, as of May 31, 2023, Nike had endorsement contract obligations of $7.6 billion, of which over $330 million were to be paid out to Michael Jordan as royalties on the sales of Jordan in 2023 (the company made over 6$ billion in sales in that year). We estimated that between 2018-2023 alone, Nike paid (or is paying) Michael Jordan over one billion dollars in royalties for Jordan’s brand sales.
Frequently asked questions
What brands does Nike own?
NIKE, Jordan (reported within NIKE Brand) and Converse.
How big is Jordan Brand?
$7.0 billion of revenue in fiscal 2026, inside NIKE Brand’s $45.2 billion (Nike 2026 Form 10-K).
Who controls Nike?
Swoosh, LLC, Phil Knight’s holding vehicle, holds 78.8% of the Class A shares (2026 proxy statement).
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
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