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.”
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“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