Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Nike to increase sales by 40% by 2015

Nike has set its sights on adding 40% to its sales over the next five years to hit $27bn (£17.9bn), up from $19.2bn (£12.7bn) currently.

The US-based sports brand and retailer said at its first analysts’ meeting for three years in New York yesterday, that clothing will form a key part of its sales growth plans.

Nike president and chief executive Mark Parker said: “We’re a great footwear company, and I think we’re a pretty good apparel company. I’ve made it clear that we’re going to be a great apparel company, too, because apparel has the potential to fuel growth in every Nike brand category, in every business in the Nike Inc. portfolio.

“It certainly represents one of Nike Inc.’s top growth priorities,” he added, according to WWD.

He added that the “relentless passion for sports around the world,” will drive Nike to target the emerging global middle class, leverage digital media, including e-commerce and NikeID customisation programs, and create more retail experiences, with partners and in stores.

Parker added that international opportunities for growth from its boardsports range Hurley, footwear brand Converse, luxury accessories brand Cole Haan and sportswear brand Umbro will play a key role in Nike’s growth.

Sales at Converse, which was acquired by Nike in 2003, are expected to double over the next five years.

Converse sales were about US$300m (£199.5m) in 2003 and have risen to almost US$1bn (£665m) last year, excluding sales from licensed businesses.

To facilitate the growth plans Nike is set to buy back some of its overseas licenses and grow internationally.

In recent years, labels including Polo Ralph Lauren and Tommy Hilfiger have acquired all or part of licensees.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.