I recently made a publication about the concept of the blue ocean, which is summarized in creating a market that until then did not exist, the same thing was done by the converse shoe company, they created a blue ocean, they were among the first sports shoes to take possession in the basketball market. Converse managed to combine sports with footwear and created a new industry.
Converse approached the best player of the moment Chuck Taylor, that impulse to converse, we are talking about the 1930s. When the NBA was founded, the best players used converse, the business vision of converse had been consolidated, shoes and sports were connected. In 1966, converse was the leader with 80% market share, but little by little, other companys like adidas, puma and nike appeared.
The new materials and designs of the new companies attracted the public and the players, converse was displaced in the 90s but knew how to overcome found a space in the world of music, especially punk and rock, they became the symbol of the rebellion in the 90s Kurt Cobain wore converse and the company remained until finally the technological innovation of Nike and Michael Jordan as its star, led to converse filing for bankruptcy in 2001. Finaly Nike bought converse for 305 million dollars, in 2016 under the mandate of Nike converse reported 2 billion dollars in sales, which means an annual growth of 20% since it was acquired by Nike.
I think that finding a blue ocean does not guarantee eternal success, I think we can also be like Nike, we can see a blue ocean found by another company and move to that market, it is understood that there will always be competition so I think we can be that competition and do it better, it's amazing how Nike ended up absorbing converse. I think it is also important to innovate, converse stayed with the same technology decades later and that made it lose the market that it dominated for decades.
Thank's for read