Who Owns Converse Tennis Shoes?

In this blog post, we’ll take a look at the history of Converse tennis shoes and find out who currently owns the company.

The History of Converse

Converse is an American shoe company that was founded in 1908. It is a subsidiary of Nike. The company’s headquarters are in Boston, Massachusetts. The company originally made rubber-soled shoes, but it now produces a wide range of footwear, including athletic shoes, casual shoes, and lifestyle shoes.

Converse is founded

Converse is an American shoe company founded in 1908. The company has been a subsidiary of Nike, Inc. since 2003. It specializes in the design, production, and marketing of shoes, apparel, and other accessories, with a focus on lifestyle-oriented products.

The company was founded in 1908 by Marquis Mills Converse as the Converse Rubber Shoe Company in Malden, Massachusetts. The company originally manufactured winterized rubber soled footwear for men, women, and children. In 1915, the company produced the now iconic “All Star” basketball shoe. In 1917, Converse expanded its product line to include athletic footwear for tennis and other sports.

The Converse Chuck Taylor All Star shoe was first released in 1917 as a basketball shoe designed to provide superior support and durability on the court. The shoe was named after Chuck Taylor, a professional basketball player who became one of Converse’s first sales representatives in 1921. In 1932, the Converse “Jack Purcell” sneakers were released, named after another famous basketball player of the time.

In 1960, Nike co-founder Phil Knight converted his college track team into a running club called “The Swoosh”. After successfully selling running shoes door-to-door out of the trunk of his car, Knight eventually partnered with Bill Bowerman to create Blue Ribbon Sports – the predecessor to Nike – in 1964. In 1968, Blue Ribbon Sports officially changed its name to Nike.

In 2003, Nike acquired Converse for $305 million. The acquisition allowed Nike to expand its product offerings into new lifestyle categories such as skateboarding and snowboarding. Today, Converse is one of Nike’s most recognizable brands with an international presence in over 160 countries around the world.

Converse becomes popular

In 1917, Converse Rubber Shoe Company released the now iconic All Star basketball shoe. The All Star was an instant success and soon became the go-to shoe for basketball players of all levels, from amateur to professional. In 1923, Converse signed its first professional athlete, Charlie Chuck Taylor, who quickly became one of the company’s biggest advocates and helped to further increase the popularity of their products.

By the 1950s, almost 90% of NBA players were wearing Converse shoes and the company had become a household name. In the 1960s, Converse expanded its range to include styles like the Chuck Taylor II and Jack Purcell sneakers as well as clothing and other accessories. Today, Converse is owned by Nike and continues to be a major player in the sneaker industry with classic and modern styles that are worn by celebrities and style-savvy people all over the world.

Converse is sold

In 2015, Nike announced that it would sell Converse to Boston-based investment firm Fenway Partners for $305 million. The deal, which was completed in October of that year, gave Nike the option to buy back Converse within five years for a total of $1.7 billion.

Nike has since exercised its option to buy back Converse, and the company is once again a wholly owned subsidiary of the Nike brand. Nike-owned Converse offers a wide range of shoes and apparel for men, women and children, including the iconic Chuck Taylor All Star sneaker. You can shop for Converse products online or at any number of retail stores around the world.

Who Owns Converse Today?

Converse tennis shoes have been around since 1908 and have been a favorite of many people over the years. The company has changed hands several times, but is currently owned by Nike.

Nike

Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is one of the world’s largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24.1 billion in its fiscal year 2012 (ending May 31, 2012). As of 2012, it employed more than 44,000 people worldwide. In 2014 the brand alone was valued at $12 billion dollars making it the most valuable brand among sports businesses.

Foot Locker

In 2003, Nike bought out Converse for $305 million dollars. Nike then proceeded to make changes to the company, such as moving productions overseas and changing the product designs. This did not sit well with many long-time Converse fans. In 2014, Nike decided to sell Converse back to it’s original owner, Marquis Mills Converse, who then created a new holding company called Strategic Partners & Investments LLC. The deal gave Nike a minority stake in the company. So who owns Converse today? Marquis Mills Converse now has complete control over the company once again and Strategic Partners & Investments LLC owns a minority stake.

Amazon

In November 2019, it was announced that Amazon had acquired the iconic footwear company Converse for $30 billion. The sale was seen as a surprising move by the online retail giant, but it made sense given Amazon’s recent expansion into the fashion and apparel industry.

Converse is one of the most recognizable brands in the world, with a rich history dating back to 1908. The company is best known for its Chuck Taylor All-Star sneakers, which have been worn by celebrities and athletes for decades.

Under Amazon’s ownership, Converse will continue to operate as a separate entity. It is not yet clear how Amazon plans to integrate the brand into its existing business, but it is possible that we will see Converse products being sold on Amazon’s website in the future.

The Future of Converse

Before we discuss the future of Converse, let’s take a look at its past. Converse was founded in 1908 as a rubber shoe company, and it wasn’t until 1915 that they produced the first Converse All-Star basketball shoe. The company changed hands a few times and eventually ended up as a subsidiary of Nike in 2003. So, what does the future hold for Converse?

Converse remains popular

Converse sneakers have been around for over a century, and they don’t seem to be going anywhere anytime soon. The brand has been through a lot of changes, but it has always managed to remain popular with sneakerheads and casual wearers alike.

Even though Converse has been owned by a number of different companies over the years, it has always managed to maintain its unique identity. That’s because the company has always stayed true to its roots, producing classic sneakers that are both stylish and comfortable.

It seems like every few years, there’s a new Converse collaboration or special edition release that gets everyone talking. And with new technologies like 3D printing, there’s no telling what the future of Converse sneakers will look like.

One thing is for sure — Converse sneakers are here to stay.

Converse is sold again

In November 2019, it was announced that Converse would be sold by Nike to hedge fund firm Marathon Asset Management for $305 million. The transaction is expected to be completed in 2020.

This will mark the third time that Converse has been sold in the last 100 years. The company was originally founded in 1908 and was later sold to BF Goodrich in 1915. It wasn’t until just over 50 years later in 1971 when Converse was sold again, this time to Nabisco.

Nabisco turned around and sold Converse to private equity firm Samara Capital in 2004 for $309 million. Nike then purchased Converse in 2003 for $305 million.

The sale of Converse to Marathon Asset Management is not expected to have any significant impact on the company or its employees.