Did you know?
The design on the bottom of the Converse shoe hasn’t changed since 1923.
1908. The Converse Rubber Shoe Company is founded by Marquis Mills in Massachusetts, USA, and specializes in a type of rubber footwear called galoshes. Converse has been producing its best-selling Chuck Taylor All Stars for more than 100 years now. The classic sneakers have grown into a wardrobe staple, and most celebrities are owning the look. Moreover, their functional and ultra-comfortable design, plus their chic silhouette, has made them a buyer favorite.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Converse.
Converse At A Glance – Converse SWOT Analysis
Company: Nike, Inc.
Founders: Marquis Mills Converse
Year of establishment: February 1908, Malden, Massachusetts, United States
CEO: G. Scott Uzzell | Davide Grasso
Headquarters: Boston, Massachusetts, United States
Employees (Dec 2020): 3,750
Ticker Symbol: CNVS
Annual Revenue (Dec 2020): US$2.21 Billion
Profit net income (Dec 2020): US$790 Million
Products & Services: Sneakers | Clothing | Accessories | Classic Chuck | Chuck 70 | One Star | Jack Purcell | Casual shoes
Company Website: www.converse.com
Top Converse Competitors
Competitors: Nike | Reebok | New Balance | Adidas | Puma | Fila | Bata | Liberty Shoes | Vans | The Athletic | Allen Edmonds | Timberland
Converse SWOT Analysis – SWOT Analysis Of Converse
SWOT Analysis Of Converse analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Converse SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Converse SWOT Analysis. Below Is The Detailed SWOT Analysis Of Converse.
Converse Strengths – Converse SWOT Analysis
1. Features: Converse shoes are trendy because of their comfort and style. These features include a vulcanized sole and a rounded tip. Converse offers many weightless shoes.
2. Affordable Prices: Converse is considered an affordable brand compared to New Balance and other closest competitors. Prices range from USD 55 up to USD 130 in their economy segment, which is affordable for all customers. They also offer premium products that may not be accessible to all customers.
3. The strong Trio: The strength of any Nike footwear is the strong trio people behind every design, namely Hiroshi Fujiwara, Tinker Hatfield, and Mark Parker, Inc. CEO. This is Converse’s greatest strength.
4. Innovative Designs: Converse is a standout in the crowd because of its colors as well as its styling, which is modern and chic. Converse Shoe’s comfort is another reason it is so popular with runners and athletes.
Converse Weaknesses – Converse SWOT Analysis
1. Inadequacy in Differentiation: Converse sells many products under the same brand name, but there are so many that it is difficult to identify. Customers often feel confused by this lack of differentiation.
2. Chuck: One the first Converse sneakers, Chuck was named for the designer. This design is considered the best of its time and there is no other version comparable in terms of comfort or quality. Converse’s greatest strength and weakness will always be Chuck.
3. The Nike Effect: Converse is a Nike Product. It will continue to be known for cannibalization. This has a negative impact on Converse’s brand equity.
Converse Opportunities – Converse SWOT Analysis
1. Specific Need: In the beginning, it was enough to have just one pair of shoes for all your sporting needs. This is not the case anymore. Each need is unique and each solution leads to a demand for new footwear. This opens up a new range of opportunities for footwear industry.
2. Disposable income: There has been a global increase in per capita income, with more working professionals and households that have two incomes. This has led to a rise in spending and impulse shopping. These are all great opportunities that can be targeted with the right promotional strategy.
3. Online shopping is growing: People are more inclined to shop online, and this has led to a rise in convenience. Companies are focusing more attention on their website as it helps to cut down on distribution expenses.
Converse Threats – Converse SWOT Analysis
1. Competition: The company has always been under serious threat from Nike and Puma, New Balance, Adidas and Reebok.
2. Counterfeiting: Many brands are imitations of the originals, sold at half the price. This is creating a serious problem in the sales and distribution.
This is the SWOT report that Converse has done. Please let us know if you have additional suggestions to add.
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