Is Converse owned by Nike?

Is Converse owned by Nike?

Converse (/ˈkɒnvərs/) is an American lifestyle brand that markets, distributes, and licenses footwear, apparel, and accessories. Founded in 1908 as the Converse Rubber Shoe Company, it has been acquired by several companies before becoming a subsidiary of Nike, Inc. in 2003.

Why did Nike buy Converse?

Converse has been a perfect fit for the Nike – helping the company diversify its portfolio and also adding a new dimension to the company’s footwear division.

Did Nike buy out Converse?

On September 4, 2003, Nike (NYSE: NKE) acquired Converse for $315 million – two years after the latter filed for bankruptcy.

When did Converse merge with Nike?

The historic sneaker brand Converse was acquired by Nike in 2003 for approximately $300 millions.