Who owns converse footwear

If you make a purchase using the links included, we may earn commission. Save Pin More. Nike Owned Brands - Lead. Start Slideshow. Credit: Courtesy. A year earlier, Nike Inc. Taylor, who joined the Converse sales force in to become the brand's first player endorser. In a town outside of Columbus, Indiana, Taylor had graduated from high school to a career in basketball. After playing for barnstorming basketball teams, including the Buffalo Germans and the Akron Firestones, Taylor joined Converse's Chicago sales office in He traveled around the country selling the shoe and promoting basketball in clinics.

The original Converse Rubber Company soared beyond the scope of its designs until when it fell into bankruptcy. Control of the company then passed on to Mitchell B. Kaufman, who had been president of Hodgman Rubber Company since After Kaufman's untimely death a year later, his successor, Albert Wechsler, operated the company for the Kaufman estate until , when a depressed economy and reduced profits prompted yet another change in command.

The purchase of the company by the Stone family began a year period of family ownership during which time Converse became a market leader. After providing protective footwear, special-purpose boots, parkas, and other equipment for the American Armed Services during World War II, the Stones concentrated on rapid growth in a civilian market.

Converse brand lines were further expanded with the acquisition of the Tyer Rubber Company and the acquisition of the Hodgman brand of sporting goods equipment.

The company also opened a new factory in Presque Isle, Maine in and purchased the Bristol manufacturing company in Rhode Island in By the early s, Converse had diversified beyond footwear to provide numerous industries--textile, plastic, automotive, paper, paper converting, photocopying, and leather processing--with products ranging from hockey pucks to teethguards, sports and industrial boots, and rubber compounds for specific applications.

Sales were delegated to three separate divisions: Sporting Goods, Footwear, and Industrial. The Stone family dynasty ended its reign in , when Converse was purchased by the Eltra Corporation.

That same year, the footwear division of B. Goodrich Co. By the late s, factors, including increased foreign competition, soaring labor and overhead costs, and a weak domestic economy, forced the company to pare down operations, consolidate, and increase efficiency.

Sales divisions, which had traditionally been divided between sporting goods and footwear, were consolidated into one team. Converse changed hands once again in Under the ownership of Allied Corporation, the brand would achieve unprecedented sales and profits.

In , however, the giant chemical conglomerate underwent a restructuring and moved out of the consumer products business. Although Converse produced 12 million pairs of sports shoes a year and had become the leader in basketball footwear, Allied put the company up for sale. Through the combined efforts of a group of senior managers, Converse spun off from its parent to become a privately owned and operated entity.

The group, led by Richard B. Facing the growing pressure of foreign imports, Converse moved to develop its export business to international markets. In the company signed separate agreements with Moon-Star Chemical Corp. With the opening of an office and warehouse in Osaka in and plans to develop new shoes specifically for the Japanese market, Converse anticipated that 'within three years, it [would] be a leader in the distribution of athletic footwear in Japan,' according to company president John P.

Between and , Converse's international business increased by more than 60 percent. One driving force behind such growth was the building of direct company operations in key European, Asian, and North American locations, in addition to licensed distributors in more than 90 countries worldwide.

Converse also faced competition from other domestic shoe companies. Since the early s, the introduction of high-performance, leather athletic shoes strained Converse's leading position with its simple, canvas classic. Consequently, Converse diversified to become a full-line athletic shoe operation.

It was in that things were looking grim for Converse. The company had filed for bankruptcy and was now acquired by Footwear Acquisitions a private holdings company. Then in , Nike made an offer for the in troubled waters company and the price they paid seemed to be too much. However, the people at Nike clearly saw potential in the nostalgic brand as they were able to repopularize what was thought to be a dying giant. Nike definitely got Converse for a bargain because the subsidiary is doing amazingly under its new management.

Despite its troubled past, the classic shoe brand is definitely heading for even higher sales in the future because it appears to be gaining popularity among social media influencers now. Home Blog. She got her start on YouTube and became an instant celebrity after Justin Bieber discovered her on the video-sharing platform….

Jason Markk, the founder of the eponymous shoe care company, recently showed Nordstrom on Instagram how to clean a pair…. Kate Mara and her husband Jamie Bell have always tried to keep their private lives out of the limelight and….

Does Amy Poehler have too-big shoes on or is she just a victim of bad angles? The Parks and Recreation…. Next Page ». Your Next Shoes. Too Big? Join Over 2 Million Shoe Fans.