Does Nike Own Converse?


Quick Answer

Converse, Inc. is a subsidiary of Nike, Inc., as of 2014. Nike, previously a competitor of Converse, purchased the company from Footwear Acquisitions for $309 million on July 9, 2003. Footwear Acquisitions had purchased and restructured Converse in April 2001 after Converse's January 2001 bankruptcy filing.

Continue Reading
Related Videos

Full Answer

Converse began in 1908 as a rubber-soled shoe manufacturer and expanded into athletic shoes in 1915. In 1917, Converse introduced the All-Star basketball shoe and became the premier manufacturer of athletic shoes and the official shoe of the NBA, a status the company maintained until the 1970s. The Converse shoe line includes All-Stars, Chuck Taylors, Jack Purcell and Cons.

Learn more about Corporations

Related Questions