×
427
Fashion Jobs
TARGET PUBLICATIONS
Regional Sales Manager
Permanent · Mumbai
THE BANYAN HR CONSULTS
Head HR For Garments Manufacturing Company at Chengalpattu, Tamil Nadu
Permanent · Chennai
IUMENTAS LIFE SCIENCE
Veterinary Sales Manager For The State of Assam
Permanent · Guwahati
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Plastic Manufacturing Company| Umbergaon
Permanent · Navsari
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Polythread Manufacturing Company| Ranchi
Permanent · Ranchi
ENGGSERVICES2INDIA
Production Quality Manager - Immediate Requirement
Permanent · Bengaluru
DIASORIN HEALTHCARE INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
METROPOLIS HEALTHCARE
Territory Sales Manager @ Mumbai
Permanent · Mumbai
GTROPY SYSTEMS PRIVATE LIMITED
Direct Sales Manager - Faridabad
Permanent · Faridabad
METROPOLIS HEALTHCARE
Territory Sales Manager @Amravati/Nagpur/Aurangabad
Permanent · Nagpur
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Delhi
Permanent · Pune
RAJ RAJESHWARI SPICE FOODS LTD.
Area Sales Manager/Senior Sales Officer Required
Permanent · Bareilly
PARK RETAIL MARKETING PVT LTD
Job Opening For Area Sales Manager
Permanent · Pune
ALUDECOR LAMINATION PVT LTD
Area Sales Manager
Permanent · Rohtak
INFEXN LABORATORIES PRIVATE LIMITED
Area Sales Manager - Diagnostic / Healthcare
Permanent · Pune
ALUDECOR LAMINATION PVT LTD
Area Sales Manager
Permanent · Vijayawada
RELIABLE CLOTHING PVT. LTD
Opening For Business Head (Garment Export)
Permanent · Mumbai
ALUDECOR LAMINATION PVT LTD
Area Sales Manager
Permanent · Hyderabad
ALUDECOR LAMINATION PVT LTD
Area Sales Manager
Permanent · Kochi
RISHABH IMPEX
Area Sales Manager
Permanent · Northeast India
NATURES ESSENCE PRIVATE LIMITED
Area Sales Manager- Punjab(Ludhiana)
Permanent · Ludhiana
ALUDECOR LAMINATION PVT LTD
Area Sales Manager
Permanent · Noida
Translated by
Nicola Mira
Published
Jul 3, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Converse a thorn in Nike’s side, plans product diversification for 2019

Translated by
Nicola Mira
Published
Jul 3, 2018

After Nike presented its annual results last week, financial analysts and the stock market reacted positively to the US sport giant’s sales forecast, with a growth rate ranging between 5% and 10%, and especially to the announcement of a new share buyback programme worth $15 billion (€12.9 billion).


My Chucks Collection - Facebook: Converse Chuck Taylor Sneakers


Nevertheless, it wasn’t all plain sailing for Nike, even after closing the last financial year with a revenue just shy of $36.34 billion (€31.2 billion): Converse, the classic sneaker brand owned by Nike, had a very troubled 2017-18, posting a revenue that was again below the $2 billion mark. Converse suffered in fact an 8% revenue downturn (down 11% at constant exchange rates), down to $1.886 billion, below its 2014-15 result. In the last quarter, closed at the end of May, the decrease at constant exchange rate was as high as -14%.

“This downturn is above all due to our decision to rationalise our wholesale distribution. At the same time, direct sales grew in double digits in the last quarter, with strong, double-figures growth online throughout the year and an acceleration in the last quarter,” stated Nike’s senior management, led by Mark Parker, during a discussion with financial analysts. Could this spell the end of the deals with Converse’s retail partners?

Yet, besides declining sales, Converse’s profitability has weakened too. EBITDA went from $477 million to $310 million, equivalent to a 35% shortfall in one year. Though Nike’s plans for turning around the business of the Chuck Taylors’ brand are still vague, the senior management stated that “as we move into fiscal year 2019, we are reigniting energy in the Converse Brand, and diversifying Converse’s product portfolio, both through Converse’s authentic positioning in sport and through new sportswear styles and collaborations. In fiscal year 2019, Converse will also launch a more direct, branded and immersive digital experience to drive closer connections between the Converse brand and its passionate consumers.”
 

Copyright © 2021 FashionNetwork.com All rights reserved.