Nike chief executive Mark Parker told investors on Wednesday that he believes the company will reach $36 billion in revenue by fiscal year 2017. Not bad considering Nike paid a whopping $35 for their now-famous swoosh logo.
If you want some high-quality MBA-speak, you can’t do much better than this statement from Parker:
Nike is designed to win. We’ve never been better positioned to capitalize on the opportunities ahead of us. We have a strong management team and we are accelerating our innovation agenda to create products and services that drive growth in the marketplace, deliver exciting retail experiences globally and expand the capabilities of our powerful supply chain (Oregon Live).
Nike specifically wants to expand its influence in the world of soccer, hoping the 2014 World Cup in Brazil will be a showcase for their brand.
Personally, I hope a large chunk of that expected $36 billion will be reinvested into the company. Clearly the department responsible for blinding people with highlighter jerseys in underfunded.
[Source: Oregon Live]