Nike Inc to focus on international markets
Nike Incorporated Chief Executive Officer Mark Parker said that the retail clothing giant plans to increase its revenues for the next five years by forty percent by focusing on international markets via its numerous array of brands.
Parker said that they’re not only focusing on sporting goods but other ventures as well such as business clothing and other brands. He believes that their projects are “quantifiable.” These revelations were made during the investor conference in New York late last week.
The company plans to increase its sales revenues by $27 billion five years from now. In its recent fiscal year figures, the company posted revenue of $19.3 billion.
The bulk of its revenues came from its namesake brand. However, Parker said that they are getting increased figures from its other businesses such as Umbro, Hurley and Converse. He said that Converse is expected to double its size for the next two years.
