In a 2017 interview with FN, Bleicher said he had observed an uptick in demand from the retail sector — about a year into the company’s launch — making it “crystal clear that the lack of this technology is preventing the footwear, eyewear and fashion world in general from migrating to online and omnichannel shopping.”.

Invertex . Nike expands its commitment to digitization. With the product Scanmate a precise foot mapping should be possible, also in the retail trade. Digitalization remains a key topic even after the ISPO Digitize Summit. careers with passion. Nike has big digital plans as it goes direct to consumer, aims to innovate faster and build relationships. Zodiac will accelerate the digital strategy so that the sporting goods manufacturer can serve customers faster and more personally.

As a result, Converse’s contribution to total revenue has gone up from 3.5% in 2007 to 5% in 2019. First, the Group announced the acquisition of Zodiac, a leading consumer data analytics company based in New York City and Philadelphia. While not particularly active on the acquisition front traditionally, in 2018, Nike Inc. (NYSE: NKE) acquired two innovative companies in order to help speed up the athletic apparel maker’s digital strategy, earning the company Mergers & Acquisitions' 2018 M&A Mid-Market Award for Strategic Buyer of the Year. The athletic behemoth announced Monday its acquisition of Tel Aviv, Israel-based Invertex Ltd., which specializes in 3-D foot scanning. In 2003, when Nike acquired Converse, it was struggling to compete in the footwear market. With this acquisition, Nike continues its strategy of integrating innovative IT companies into its own organization. As of 2019, Converse’s revenue stood at almost $2 billion – nearly 6 times its historical purchase price. Although the purchase seemed expensive at that time, it has turned out to be a bargain because of the following reasons: #1 Converse Has Achieved Robust Revenue Growth Over The Years, (Note: We have highlighted trends since 2007, as Nike began reporting Converse’s performance as a separate segment starting that year), #2 Revenue Growth for Converse has exceeded that for Adidas but has been less than for Under Armour, Additional details about revenue growth for competitors Adidas and Urban Outfitters since 2007 is available in our interactive dashboard, #3 Moreover, Converse Has Been Operating At A Higher Margin Than Nike, #4 However, the Revenue Per Store figure for Nike has been higher than that for Converse, Conclusion: Converse Has Been A Bargain Purchase, What’s behind Trefis? Acquisition search results. Please fill out this field with valid email address. The aim is to make shopping easier for customers and to identify their consumer behaviour. See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams| Product, R&D, and Marketing Teams More Trefis Data Like our charts? "Our claim is that we really are always at the forefront.". Since then, Converse’s sales have declined. Nike Inc. is taking a bigger bet on digital technology. Trefis is currently used by hundreds of thousands of investors, company employees, and business professionals. 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Pricing. Nike’s strategy of accelerated store openings to achieve growth for Converse doesn’t seem to be bearing fruits. Products. 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", Nike buys digital companies Zodiac and Invertex. Powered by Converse’s EBIT margin in the last five years has averaged around 21% while Nike’s margin averaged 17%. "Digitization will speed things up," Adidas CEO Roland Auschel recently told ISPO.com. Converse had annual sales of just over $200 million at the time of acquisition. Invested in digitization: sports equipment manufacturer Nike (symbol image). “Instantly the Invertex’s cognitive match engine guides the shopper to all the shoes in the store, armed with personalized information and reviews to enrich their shopping experience,” he said. “The acquisition of Invertex will deepen our bench of digital talent and further our capabilities in computer vision and artificial intelligence as we create the most compelling Nike consumer experience at every touch point,” Nike chief digital officer Adam Sussman said in a statement. Explore example interactive dashboards and create your own, Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images). Invertex has since released its FeetID system, which includes an in-store unit that 3-D-scans a precise measure of a shopper’s feet and sends it directly to their mobile phone within seconds. In 2014 when he launched the company, Invertex co-founder and CEO David Bleicher — who spent more than decade in leadership roles in the medical device field — originally set out to use 3-D scanning and automated design processes to create customized medical equipment such as custom foot orthotics and braces. Our crowd-sourcing platform for intelligent product development, ISPO Job Market is the career portal for the sports industry. Stifel’s Duffy said the Invertex acquisition on top of Zodiac is helping further Nike’s goal of bringing more personalization at scale. Everything about new products, news, trends, business strategies and analyses from the world of sports - fresh in your mailbox! Nike's revenue is the ranked 1st among it's top 10 competitors. On September 4, 2003, Nike (NYSE: NKE) acquired Converse for $315 million – two years after the latter filed for bankruptcy. Converse has been operating at a higher profit margin than Nike. This might include you though you may have invested money in these companies, or may have been working with one of them for years as an employee, or have consulted with them as an expert for a long time. Log In. Nike in 2017 unveiled its Consumer Direct Offense strategy, focused on better serving its customers personally and at scale. Try Pro free Solutions. First, the Group announced the acquisition of Zodiac, a leading consumer data analytics company based in New York City and Philadelphia. Nike paid $315 million for Converse in 2003 while the brand had sales of around $200 million – implying a P/S multiple of 1.6x. The platform uses extensive data to show in a single snapshot what drives the value of a company's business. However, the brand’s revenue peaked in 2017 at $2 billion. Moreover, since 2012, Converse’s average revenue per store has declined by 50% while over the same time frame this metric for Nike has gone up by 16%. Nike continues to invest in digitization: The American sporting goods manufacturer takes over first the digital agency Zodiac from New York, then the IT startup Invertex from Israel. However, in 2018, Converse’s margin sharply declined to 16.4% due to a steep fall in revenue. Invertex should now minimize this. Download here the study results of the Digital Readiness Check. HONG KONG, CHINA - 2019/05/08: A logo of an American multinational sport clothing brand Nike seen in ... [+] Hong Kong. A total of 1 acquisition came from private equity firms.It has also divested 5 assets.. Nike’s largest acquisition to date was in 2007, when it acquired Umbro for $439M.It’s largest disclosed sale occurred in 2012, when it sold Cole Haan to Apax Partners for $570M.Nike has acquired in 7 different US states, and 3 countries. Nike revived the brand and also turned it into a multi-billion dollar entity. This was followed by the acquisition of Invertex, an Israeli IT start-up. Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price. Thorogood builds on its legacy with its new outdoor collection, designed for those who play as hard as they work. Nike's German competitor, Adidas, is also regarded as a pioneer in digitization. © 2020 Forbes Media LLC. You may opt-out by.

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