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While Converse dominated the U.S. basketball shoe market from the 1920s until the 1970s, it began to struggle in the late 1970s due to competition, poor business decision-making, and lack of sufficient funds. In subsequent years Converse filed for bankruptcy multiple times and fell into further debt. Nike acquired Converse in 2003 for an estimated $305 million and continues to market Chuck Taylor All-Stars. Converse's manufacturing operations for Chuck Taylor All-Stars, as well as the company's other shoes, was moved from the United States to other countries such as China, India, Vietnam, and Indonesia
The Most Successful Shoe Model In The World
While Converse dominated the U.S. basketball shoe market from the 1920s until the 1970s, it began to struggle in the late 1970s due to competition, poor business decision-making, and lack of sufficient funds. In subsequent years Converse filed for bankruptcy multiple times and fell into further debt. Nike acquired Converse in 2003 for an estimated $305 million and continues to market Chuck Taylor All-Stars. Converse's manufacturing operations for Chuck Taylor All-Stars, as well as the company's other shoes, was moved from the United States to other countries such as China, India, Vietnam, and Indonesia