Which company did Nike acquire in 2003 for about $305 million?

Nike acquired Converse in 2003 for about $305 million.

Converse was an American footwear company best known for the Chuck Taylor All-Star, a canvas basketball shoe that had become a broad cultural and fashion symbol. Nike announced the acquisition in 2003 and completed the purchase for approximately $305 million.

The deal added a heritage lifestyle brand to Nike’s portfolio rather than simply expanding Nike’s performance-running or basketball lines. Converse continued to operate under its own name and retained its distinctive products, visual identity, and cultural positioning.

The acquisition is sometimes confused with Nike’s purchase of other sports brands, but Converse is the company associated with the 2003 transaction and the roughly $305 million price. The deal illustrates Nike’s strategy of owning multiple brands aimed at different parts of the footwear and apparel market.