Nike aims for $50B by 2020


CEO Mark Parker continues strategy for aggressive revenue growth.

Share this article!

BY JACOB PALMER | DIGITAL NEWS EDITOR

Nike CEO Mark Parker will continue a strategy for aggressive revenue growth.

After wrapping a fiscal year in May with $30.6 billion, he’s now aiming for $50 billion by 2020.

“Fifty billion. That’s an ambitious goal. We know that,” Parker said while strolling on a stage before more than 100 people gathered in the Tiger Woods Center at the company’s headquarters campus near Beaverton. “We make it our daily ambition to achieve ambitious goals.”

The other big announcement Wednesday was that Nike plans to build a 125,000-square-foot Advanced Product Creation Center at its headquarters. It was not immediately clear whether the center would be in addition to the massive construction project already unfolding on the campus or is something that is already hard-boiled into the plans.

(SOURCE: OregonLive.com)

Another prediction from the Investor Meeting: E-commerce will account for $7 billion in revenue by 2020. This year, it was worth $1 billion.

RELATED NEWS: Oregon institutions voice support for TPPPhil Knight memoir: Coming spring 2016Where did Phil Knight land on the 2015 Forbes 400 list?

 


Published in Categories News