Mark Parker, president and chief executive officer, said the company could add nearly $11 billion in sales by 2017, raising its revenues to $36 billion.
A big part of that will come from apparel, which is expected to expand to $10 billion in annual sales in three years, up from $7.5 billion for the fiscal year ended May 31.
This is on pace with the recent trend, which has seen Nike-branded apparel sales expand by nearly 40 percent over the past three years.
“We’ve been growing our women’s [apparel] business faster than we have our men’s business,” Parker said at a meeting with investors Wednesday. Nike’s overall women’s business is expected to hit $7 billion in 2017, up from $4 billion in 2013.
The ceo and other executives were pitching the athletic giant, which already has over $25 billion in sales, as a growth company. Shares of the firm rose 0.9 percent to $70.89 — giving it a market capitalization of $63.05 billion.
Parker said Nike’s sales this year would hit $30 billion, the upper end of its previous projection calling for sales of $28 billion to $30 billion.
“There is more opportunity for Nike today than at any point in our history,” Parker said. “Over the next decade, we will see the world’s middle class grow by over one billion consumers.” Much of this growth will come from countries such as Brazil, Russia, India and China.
Trevor Edwards, president of the Nike brand, said the brand’s strength flowed from its focus on sports, which provides both excitement and technical inspiration as the company seeks to meet the performance needs of top athletes.
The brand also has its sights on the digital world.
Edwards projected that sales on nike.com would nearly quadruple to $2 billion by 2017, up from sales of $540 million last year.
“The consumer landscape continues to see tectonic shifts created by the impact of digital,” Edwards said. “The young consumer lives in a digital world. Digital is like oxygen. It’s omnipresent and indispensable. It’s everywhere and it’s always on.”
Nike executives also hammered hard on the company’s efforts to innovate — from the Flyknit sneaker to the FuelBand digital tracker to Dri-fit apparel.
This itch to innovate extends to its manufacturing efforts as well, where Nike is using more sustainable techniques that are less labor intensive and produce less waste.
Eric Sprunk, chief operating officer, said Nike was working on a “manufacturing revolution.”
While not getting too specific, Sprunk asked investors to imagine if a broad base of customers could buy a highly customized pair of shoes — tailored individually to one’s right foot and one’s left foot — that was manufactured locally and delivered within hours.
“We don’t just imagine it,” he said. “We’re planning for it.”
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast