Nike outlines growth plans; targets $27B by 2015

NEW YORK (AP) — Nike Inc. CEO Mark Parker says the company plans to increase revenue 40 percent over the next five years through growth in international markets and its array of brands.

"Our power is quantifiable and our potential continues to grow," Parker said today at an investor conference in New York.

Nike plans to increase its revenue to $27 billion by 2015. Its revenue was $19.3 billion in its most recent fiscal year.

"We will continue to build, fuel and accelerate the Nike Inc. portfolio," Parker said.

The company derives the bulk of its business through its namesake brand but said it is seeing tremendous growth in its other businesses such as Converse, Hurley and Umbro. Converse alone is expected to double in size over the next two years, company leaders said.