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Nike just set itself an ambitious goal.
The athletic apparel and shoes maker cheap authentic jordan shoes said Wednesday it expects to generate $50 billion in sales by 2020, boosted by greater global interest in its products.
The target was promised by Chief Executive Mark Parker at an investor presentation held at Nike's corporate headquarters in Oregon. It implies a roughly 10% compounded annual growth rate. Despite its already massive size authentic air jordan shoes sale, Parker said Nike NKE 1.30% is "built for growth."
The rate of growth Nike is targeting will also help the world's largest athletic gear maker stay far ahead of its fast-growing rival Under Armour UA 0.59% .
"We all know there is a global shift toward fitness," said Trevor Edwards, authentic air jordans cheap president of Nike Brand, at the event. "And that cultural shift is running deeper than some people think."
As a reminder, Nike generated $30.6 billion for fiscal 2015, which ended on May 31 authentic air jordans for sale. Nike is promising to add $20 billion over a five-year period. It took Nike 13 years to grow from a $10-billion business to $30-billion athletic retailer. That fast-pace growth should also help Nike continue to climb on the Fortune 500 list. It ranked at #106 last year, up from #115 the prior year.
How will Nike achieve that growth? It sees the e-commerce business authentic cheap air jordans soaring to over $7 billion the next five years, up drastically from around $1 billion today. "We think about digital as an accelerator of all that we do," Edwards said.
Among the brands Nike owns, the namesake will generate much of the authentic cheap jordans growth but the Jordan brand will also be a hot seller. Jordan product sales are expected to double to $4.5 billion by 2020.
The women's business is also a massive opportunity. Nike sees it growing from a $5.7 billion business to worth more than $11 billion. As Fortune has previously reported, Nike has more aggressively sought to get more women interested in the brand, authentic jordans for cheap especially as they become more active and incorporate more athletic gear into other aspects of their lifestyle – the much talked about "athleisure" trend. That is when athletic gear – sneakers, tights and other apparel – are worn around town, not just for workouts. For the women's business, Nike has said it wants to build sales on two core items: tights and sports bras cheap authentic jordans.