Why Nobody Wears Converse Anymore?

In Nike's fiscal 2023, Converse made $676 million in operating profit. In fiscal 2026 it made $18 million. Sales fell 31% in a single year and more than halved in three. This is why nobody wears Converse anymore: from a 1908 rubber-boot company and the Chuck Taylor All Star, to bankruptcy in 2001, to Nike's $305 million deal and a $2.43 billion peak, and back down again. Do you still wear Chucks? Tell us in the comments, and subscribe for more. CHAPTERS 0:00 $676 million to $18 million 0:29 1908: rubber boots and the All Star 1:45 How Converse lost basketball 2:18 Bankruptcy, 2001 2:59 Nike buys its old rival 4:48 The $2.4 billion peak 5:06 The collapse 6:10 Why nobody wears Converse 7:09 Nike's reset 9:31 3 lessons NOTES ON THE NUMBERS - Converse figures are from Nike's annual and quarterly SEC filings. Nike's fiscal year ends 31 May (fiscal 2026 = June 2025 to May 2026). - Revenue: FY2023 $2.427bn, FY2024 $2.082bn, FY2025 $1.692bn, FY2026 $1.174bn. Operating profit (EBIT): FY2023 $676m, FY2026 $18m; Converse lost money in Q2 and Q3 of fiscal 2026. Q1 fiscal 2027 (June-August 2026): revenue $263m, down 28%. - The 44% demand decline is an estimate by BNP Paribas analyst Laurent Vasilescu for the quarter to November 2025. - Chuck Taylor did not design the All Star (introduced in 1917); he was a salesman who promoted it and suggested improvements. The 1960s market share is given as "roughly three-quarters or more" because sources range from 70% to about 90%. - 2002 figures: about $205 million in revenue and $18.6 million in net income (a different measure from operating profit). - Bloomberg reported in April 2026 that Authentic Brands Group would be interested in Converse if Nike ever sold it; Nike has announced no sale and says Converse "remains an important part of the portfolio". - Nike's Investor Day on 16-17 November 2026 comes after this video was made. Sources include Nike's 10-K and 10-Q filings and press releases, Fortune, Bloomberg (as reported), Reuters, the Christian Science Monitor, Smithsonian, the Motley Fool, Footwear News, VF Corporation's results, and Wikipedia with its cited sources. This channel is not affiliated with or endorsed by Converse or Nike. Logos are trademarks of their owners, shown for identification. Illustrations are AI-generated cartoons; narration is AI-voiced. Not financial advice. #Converse #Nike #ChuckTaylor #Sneakers #TotallyFineInc