Nike Builds Their Brand
Nike Builds Their Brand
Nike aims to grow revenue by 40% over the next five years by opening more branded stores and increasing sales of its master brand and portfolio brands such as Converse and Umbro.
The sportswear company says it wants to grow revenue to $27bn by 2015. Nike posted revenue of $19.2bn in its last full economic year.
Nike says it wants to grow revenue for its main brand, which accounts for about 85% of its total revenue, in developed regions – North America, Western Europe, and Japan – by $3bn to $3.5bn by the end of 2015. It expects “low double-digit growth” in on the rise markets.
Plans to open 250 to 300 new Nike-branded stores worldwide over the next five years were also revealed.
In addition, the company says it wants to double revenue for its Converse brand by 2015.
The sportswear firm has invested majorly in marketing this year to tap into enthusiasm for the World Cup in South Africa. Even though they aren’t an official sponsor, it supplies boots to players including Wayne Rooney and team kits for the US and Brazil. .