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Converse (/ ˈ k ɒ n v ər s /) is an American lifestyle brand that markets, distributes, and licenses footwear, apparel, and accessories.Founded by Marquis Mills Converse in 1908 as the Converse Rubber Shoe Company in Malden, Massachusetts, it has been acquired by several companies before becoming a subsidiary of Nike, Inc. in 2003.
By 1923 the Converse All Star shoe was designed in its present-day form after the company made improvements to the design based on Chuck Taylor's input. The restyled Converse All Star basketball shoe also had a distinctive five-pointed-star logo displayed on the high-top shoe's ankle patch.
In 2004, Varvatos designed the laceless Converse Chuck Taylor slip-on. The design was widely adopted and imitated by competitors. [7] [5] By March 2006, "Converse by John Varvatos" premiered the first ready-to-wear clothing line in Converse's history. [7] A vintage-inspired line was also designed for a younger demographic. [6]
Sneakers became a fashion statement and were marketed as a definition of identity and personality rather than simply athletic aids. [ 15 ] Also during the 1990s, various vendors began producing "walking shoes" for adults using the construction technology of sneakers but visually resembling traditional leather shoes.
In 1949, Pro-Keds were introduced as a line of sneakers for athletic performance [10] intended to compete with the industry standard, Converse. [11] [12] [13] Designed specifically for basketball players, the original style, the Royal, [14] was endorsed by George Mikan. In 1953, the Minneapolis Lakers were outfitted with Pro-Keds. [11]
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This 10-year deal was the largest of its kind in the history of college athletics and became effective July 1, 2014. As of 2014, Under Armour had an operating profit of more than 30%, accelerating from its 2013 pace. The company's share price soared 62.5% that year. [16]
Symphony brought in former partner Infinity Associates, who together purchased Converse from bankruptcy in 2001 and Haggar Clothing in 2005. [7] Jim Stroesser, who was the key partner in rebuilding Converse, was asked to be the CEO/President of PONY in 2006. Stroesser's team relocated Pony from Santa Barbara, California, to downtown San Diego.