There's no regret from Nike when it comes to its $305 million purchase of North Andover-based Converse in 2003.
"It's an important part of Nike," CEO Mark Parker said yesterday. "It's been one of the best acquisitions we've made."
Revenue for Converse Inc., the 106-year-old maker of the iconic Chuck Taylor All Star sneakers, climbed 16 percent to $420 million in the last quarter, Nike reported in March, after 9 percent growth to $1.44 billion in the past fiscal year.
Converse is moving its headquarters to Boston's Lovejoy Wharf early next year, and Parker said the subsidiary's 400-strong employee base can be expected to grow in step with its revenue.
Nike Inc. had $23.5 billion in total revenue last year and enjoys an industry-dominating 48 percent market share for its namesake brand. Parker — who joined Nike in 1979 as a shoe designer in Exeter, N.H., and has been CEO of the Oregon company since 2006 — spoke at Boston College Chief Executives' Club of Boston. Here's some of what he had to say:
• On one of China's biggest strikes ever this month at Nike footwear manufacturer Yue Yuen Industrial Holdings over Yue Yuen's contributions to employee benefits: Nike had been communicating with Yue Yuen and urging it to resolve the issues as soon as possible. "We want to invest in the partners that are really doing the right thing with the workforce. We didn't move product out in this case, but we stayed close to it. We have a factory base where we can move product around as we need to make sure that we don't have issues with production."
• On NBA Commissioner Adam Silver's league ban of Los Angeles Clippers owner Donald Sterling for racist remarks: "Adam Silver did a remarkable job. He did it decisively and quickly. There's no room for discrimination."
• On the possibility of U.S.-made Nike shoes: Nike is investing heavily in manufacturing innovation and, as technology advances, there's an opportunity for a U.S. manufacturing base.
• On Nike athletes: They're not simply "billboards" for the Nike "Swoosh." Nike works closely with them to gain insight that drives innovation. It "listens to the voice of the athlete." When working with athletes of golfer Tiger Woods' caliber, "You don't innovate just for the sake of change. You innovate to change the outcome."
• One of his most important roles as CEO: Being an editor. "By editing, we can actually amplify the power of what we do."
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