In 2010, Nike's annual revenue was $18.3 billion. In 2015, it was up to $30.6 billion. At an investor event on Wednesday, the athletic brand announced its intentions to do $50 billion in revenue by 2020.
Of course, as the company is required to state in cases like this, that's a forward-looking statement "that involves risks and uncertainties that could cause actual results to differ materially."
In terms of sales, Nike is the biggest apparel company in the US, with global giants like H&M trailing at roughly $22 billion. More direct competitors like Under Armour and Adidas did, respectively, $3.08 billion and roughly $17.6 billion in 2014. Coincidentally, Nordstrom also announced on Wednesday that it was aiming for $20 billion in revenue by 2020.
How exactly is Nike going to get to the big five-oh? The company said in a release that it recently unveiled a new facility that houses both design and manufacturing under one roof and cited the usual list of growth factors: category and geographic expansion, digital investments, etc.
Go big or go home, right?