Who Owns Converse?

Nike Inc. owns Converse, having acquired the iconic sneaker brand in July 2003 for approximately $305 million. The American footwear manufacturer operates as a wholly-owned subsidiary of the global athletic footwear giant.

Converse maintains its headquarters in Boston, Massachusetts, where it continues developing the Chuck Taylor All-Star line alongside contemporary basketball performance shoes. Aaron Cain assumed the President and CEO role in August 2025, replacing Jared Carver after two years of leadership. The transition occurred during a challenging period, with Converse revenue declining 19 percent to $1.7 billion in fiscal year 2025.

Under Nike’s stewardship, Converse has expanded its global distribution network while preserving the distinctive brand identity that made Chuck Taylor sneakers a cultural phenomenon. The subsidiary leverages Nike’s technological innovations and supply chain infrastructure while maintaining operational independence in product design and brand management.

Who Owns Converse?

Nike Inc. maintains complete ownership of Converse through its acquisition from bankruptcy proceedings in 2003. This strategic purchase brought one of America’s most recognizable sneaker brands under the umbrella of the world’s largest athletic footwear corporation.

As a wholly-owned subsidiary, Converse does not maintain separate shareholders or independent ownership stakes. All equity belongs to Nike Inc., the publicly traded parent company. This ownership arrangement means Converse operates as an integrated business unit within Nike’s broader portfolio, which also includes the Jordan Brand.

The acquisition provided Nike with immediate access to the lifestyle sneaker market segment, complementing its performance athletic footwear focus. Converse maintains operational independence in product design and brand management while utilizing Nike’s global distribution channels, manufacturing capabilities, and technological resources. The subsidiary represented approximately 3.7 percent of Nike’s total revenue in fiscal year 2025, a smaller contribution compared to historical performance.

History of Converse Co-Founders

Marquis Mills Converse founded the Converse Rubber Shoe Company in February 1908 in Malden, Massachusetts. Unlike many modern technology startups with multiple co-founders, Converse began as a single-founder enterprise built on manufacturing expertise and entrepreneurial vision.

Early Career and Industry Experience

Born in 1861 in New Hampshire, Marquis Mills Converse spent his early career working as a manager at an established footwear manufacturing firm. This experience provided comprehensive knowledge of shoe production processes, supply chain management, and the commercial footwear market. By age 47, he had accumulated sufficient capital and industry connections to launch an independent venture.

The timing proved advantageous as rubber-soled footwear was gaining popularity among consumers seeking more comfortable alternatives to traditional leather shoes. Converse recognized market demand for winterized rubber footwear, galoshes, and athletic shoes, positioning his new company to serve these growing segments.

Company Foundation and Growth

Converse established his rubber shoe manufacturing operation in Malden, an industrial town north of Boston with existing infrastructure supporting shoe production. The company initially focused on producing durable, weather-resistant footwear for general consumers rather than specialized athletic applications.

Within two years of founding, the company achieved production capacity of 4,000 shoes daily, demonstrating successful scaling of manufacturing operations. By 1916, Converse recognized opportunity in the growing basketball market and introduced a dedicated basketball shoe line. The following year brought the launch of the Converse All-Star basketball shoe, which would eventually evolve into the iconic Chuck Taylor All-Star after basketball player Chuck Taylor joined as a salesman and product ambassador in 1922.

Marquis Mills Converse led the company until his death in 1931, establishing the foundation for decades of market dominance in athletic footwear. His vision of combining rubber technology with canvas materials created a product that transcended its original athletic purpose to become a cultural symbol recognized globally.

Largest Shareholders of Converse

Since Converse operates as a wholly-owned Nike subsidiary, understanding its shareholders requires examining Nike’s ownership structure. The parent company trades publicly on the New York Stock Exchange under ticker symbol NKE, with shares distributed among institutional investors, individual shareholders, and company insiders.

Institutional Investment Leadership

Institutional investors control approximately 65 percent of Nike’s outstanding shares, making them the dominant shareholder group. The Vanguard Group leads institutional ownership with approximately 109.5 million shares, representing roughly 7 to 9 percent of total equity. BlackRock follows as another major institutional holder with approximately 5.6 to 6 percent of shares.

State Street Corporation maintains a significant position among the top institutional shareholders with approximately 4 to 5 percent ownership, alongside other major asset managers including Capital World Investors and Wellington Management. These institutional investors typically hold Nike shares through index funds and actively managed portfolios, providing stability to the shareholder base. Their substantial ownership positions give them considerable influence over corporate governance matters and strategic decisions affecting both Nike and its Converse subsidiary.

Founder and Insider Ownership

Phil Knight, Nike’s co-founder and Chairman Emeritus, remains the largest individual shareholder through the Knight family’s control of approximately 17 to 22 percent of total outstanding shares. More significantly, the Knight family holds roughly 97 percent of Class A voting shares, which carry superior voting rights compared to publicly traded Class B shares. This dual-class structure enables Knight to maintain substantial influence over corporate decisions despite not holding a majority of total equity.

Swoosh LLC, established by Phil Knight in 2015, holds approximately 230.75 million Class A shares and an equal amount of Class B shares. Travis Knight, Phil Knight’s son, maintains ownership through a trust holding approximately 34.8 million shares of each class. This concentrated family ownership ensures alignment between Nike’s governance structure and the founding vision.

Executive ownership extends beyond the founding family, with current leaders holding meaningful stakes. Mark Parker, Executive Chairman of Nike’s Board of Directors, maintains an ownership position developed during his tenure as CEO from 2006 to 2020. Current President and CEO Elliott Hill, who returned to Nike in October 2024 after previously retiring in 2020, also maintains an ownership position aligned with long-term shareholder interests.

Individual and Retail Investors

Individual investors collectively own approximately 11 to 14 percent of Nike shares, representing millions of retail shareholders who purchase stock through brokerage accounts and retirement plans. This shareholder segment includes employees participating in Nike’s stock purchase and equity compensation programs, alongside general public investors attracted to the company’s market position in athletic footwear and apparel.

Who is on the Board of Directors for Converse?

As a wholly-owned subsidiary of Nike Inc., Converse does not maintain an independent board of directors. Instead, the brand operates under the governance structure of its parent company, with Nike’s board providing strategic oversight for all subsidiary operations including Converse, Jordan Brand, and other portfolio entities.

Nike Board Leadership

Elliott Hill serves as President and Chief Executive Officer of Nike Inc. and holds a position on Nike’s Board of Directors following his return to the company in October 2024. His 32-year career with Nike prior to his initial retirement in 2020 included senior leadership roles across Europe and North America, culminating in his position as President of Consumer and Marketplace. Hill’s extensive experience with the company positions him to provide strategic direction for Converse as part of Nike’s broader brand portfolio.

Mark Parker holds the position of Executive Chairman on Nike’s Board of Directors. Parker previously served as President and CEO of Nike from 2006 to 2020 after joining the company in 1979. His background spans product research, design, and development, contributing product innovation expertise to board oversight. Parker simultaneously serves as Chairman of The Walt Disney Company’s Board of Directors, bringing cross-industry governance experience to Nike’s strategic planning.

Independent Directors with Retail and Consumer Expertise

The Nike board includes several independent directors whose experience directly relates to consumer brands and retail operations. Thasunda Duckett serves as CEO of TIAA and brings financial services expertise alongside deep understanding of consumer markets from her previous role as CEO of Chase Consumer Banking at JPMorgan Chase. Her perspective on customer engagement and brand loyalty proves relevant for overseeing brands like Converse that serve style-conscious consumers across demographic segments.

Cathleen Benko contributes technology sector knowledge and talent management experience from her nearly 30-year career at Deloitte, where she served as Vice Chairman. Her expertise helps Nike navigate digital transformation initiatives affecting how consumers discover and purchase Converse footwear through retail partners and direct-to-consumer channels.

Directors with Technology and Innovation Backgrounds

Tim Cook serves on Nike’s board of directors while holding his position as CEO of Apple Inc., providing technology sector insights and consumer electronics expertise. His experience leading one of the world’s most valuable companies contributes perspective on brand management, product innovation, and customer experience design. Cook has served on Nike’s board since 2005, maintaining a long-standing relationship with the company.

Jørgen Vig Knudstorp joined Nike’s Board of Directors in 2025 following nomination at the annual shareholder meeting. His tenure as President and CEO of LEGO Group from 2004 to 2016, followed by his role as Executive Chair of LEGO Brand Group through 2023, brings global brand management experience. Knudstorp currently serves as Deputy Chair of the LEGO Foundation and lead independent director of Starbucks Corporation, contributing perspective on building enduring consumer brands across generations.

Directors with Financial and Investment Management Experience

John Rogers Jr. serves on Nike’s board as Chairman and Co-CEO of Ariel Investments, bringing investment management perspective and serving on the Corporate Responsibility, Sustainability and Governance Committee. His financial expertise supports board oversight of capital allocation decisions, including investment in subsidiary brands like Converse.

Travis Knight, son of Nike co-founder Phil Knight, provides continuity with the company’s founding vision while holding a significant role managing Class A voting shares owned by Swoosh LLC. His board position strengthens alignment between Nike’s governance structure and the Knight family’s substantial ownership stake, ensuring long-term strategic focus.

Directors Contributing Brand and Marketing Expertise

Mónica Gil serves as Chief Administrative and Marketing Officer at NBCUniversal Telemundo Enterprises, providing media and multicultural marketing expertise to Nike’s board. Her experience in communications and diverse market segments helps Nike navigate global consumer trends affecting brand positioning for Converse in various geographic markets.

Michelle Peluso brings digital transformation and e-commerce expertise from her role as Chief Customer and Marketing Officer at Salesforce. Her experience helps Nike’s board address evolving consumer shopping behaviors and digital engagement strategies across its brand portfolio including Converse.

Converse Executive Leadership

While Converse lacks an independent board, the brand maintains dedicated executive leadership reporting to Nike’s corporate structure. Aaron Cain assumed the role of President and CEO of Converse in August 2025, bringing over 21 years of Nike experience to the position. His career included leadership roles in Nike’s sportswear business across multiple geographies, including serving as Vice President and General Manager of Nike Global Men’s business immediately prior to the Converse appointment.

Cain replaced Jared Carver, who served as Converse CEO for two years after spending 15 years with the company in various leadership capacities. The leadership transition occurred as Nike implemented broader organizational restructuring focused on sports categories rather than demographic segments. This strategic realignment affects how Converse integrates with Nike’s basketball and lifestyle product strategies while maintaining its distinctive brand identity in the competitive athletic footwear market.

FAQs

Does Nike still own Converse in 2025?

Yes, Nike continues to own Converse as a wholly-owned subsidiary. The acquisition occurred in July 2003 for approximately $305 million, and the ownership structure remains unchanged.

How much does Converse contribute to Nike’s revenue?

Converse generated approximately $1.7 billion in fiscal year 2025, representing less than four percent of Nike’s total revenue. This proportion has declined from previous years.

Who currently leads Converse as CEO?

Aaron Cain serves as President and CEO of Converse since August 2025. He brings over 21 years of Nike experience, most recently as Vice President and General Manager of Nike Global Men’s business.

Where is Converse headquartered?

Converse maintains its headquarters in Boston, Massachusetts, at Lovejoy Wharf near North Station. The company relocated to this facility from North Andover, Massachusetts in January 2015.

Is Converse independently managed from Nike?

Converse operates with operational independence in product design and brand management while utilizing Nike’s resources. Strategic oversight comes from Nike’s corporate leadership and board of directors as the parent company.