Nike wants to build $23 billion company by 2011

BEAVERTON, Ore. — Nike CEO Mark Parker said Tuesday he plans a reorganization on the way to making the world’s largest athletic shoe and clothing company into a $23 billion global giant by 2011.

Nike had sales of $15 billion in 2006.

Parker led off the annual meeting of Nike investors with plans to reorganize the way the Beaverton-based company deals with consumers, saying their changing tastes and needs are changing the approach to entire markets.

“Consumers have never held as much power as they do today,” Parker said. “And clearly the power has shifted to consumers.”

Amid a backdrop of videos driven by rap music, Parker said Nike will focus on six broad categories: soccer, basketball, running, men’s training, women’s fitness, and sports culture.

“We’re fundamentally changing the way we organize the company,” Parker said as he outlined a growth strategy that will focus on changing consumer needs and customized products.

Parker told analysts in December and said again Tuesday that Nike is looking for other companies to buy.

But he did not give any details or specific targets.