Is Converse next on Authentic Brands Group’s shopping list?
Rumours are rife that Authentic Brands Group is circling Nike-owned Converse, should Nike be willing to sell the brand it acquired in 2003 for $315 million - two years after Converse had filed for bankruptcy.
Nike transitioned Converse into a successful subsidiary focused on heritage products like the Chuck Taylor All Star, but that star has long since waned, with Converse’s sales now heading toward a 15-year low, according to Bloomberg.
On 31 March, Nike revealed its third-quarter results for the period ended 28 February 2026, reporting Converse sales revenues fell 35% to $264 million (£198.6 million) “due to a decline in all territories”. This followed a 30% decline in the second quarter and a 27% drop in the first quarter - making Converse one of the weakest cogs in Nike’s portfolio.
Meanwhile, although no formal approach has been made as far as is known, it is no secret that Authentic Brands Group (ABG) has expressed interest in Converse in the past and would likely be an interested party should Nike look to offload the brand in the future.
It’s all speculation thus far, though the old saying “no smoke without fire” comes to mind. ABG has, after all, been on something of a brand-shopping spree in recent times. In January 2026, following much speculation in the previous year, it acquired a majority stake (51%) in Guess - described as a “landmark deal” which took the company private.
With $6 billion in global retail sales, Guess became ABG’s second-largest brand, bringing the portfolio’s total annual retail sales to $38 billion globally.
In 2025, ABG acquired Dockers from Levi’s for $311 million (£232 million). It also snapped up US heritage sportswear giant Champion in 2024, British heritage brand Hunter in 2023 and, in 2022, Reebok from Adidas.
ABG, which also owns Brooks Brothers, Juicy Couture, Ted Baker, Quiksilver, and Sperry, clearly has an appetite for taking more heritage brands under its belt. Will 2026 be the year that Converse becomes the latest?
