, Columnist
Nike Should Just Do It and Sell Converse
Should Nike slap a For Sale sign on its Converse brand?
Photographer: Victor J. Blue/Bloomberg
“Got Chucks on with Saint Laurent” declared Mark Ronson and Bruno Mars in their 2014 hit Uptown Funk. Yves Saint Laurent held its fashion show in Paris a few weeks ago. But where were the Chucks? Likely stuck on a retailer’s discount rack.
Elliott Hill, Nike Inc.’s chief executive officer, revealed a day after the Saint Laurent show that sales at Converse, maker of the Chuck Taylor All Star sneaker, had fallen 28% excluding currency movements in the sportswear giant’s first quarter. Rather than suffer the distraction of trying to put the minor brand on a stronger footing, Hill should sell Converse — or at least be open to offers.