Nike’s Struggling Converse Unit Has Suitor in Authentic Brands

More than a year into Elliott Hill’s attempt to revive Nike Inc., the sneaker giant’s Converse brand remains in free fall, with sales headed toward a 15-year low.

One potential suitor has emerged: Authentic Brands Group Inc. has expressed interest in buying Converse if it’s put up for sale, people familiar with the matter told Bloomberg News. The interest is longstanding and Nike so far hasn’t engaged in discussions with the owner of Reebok and Champion, nor has Authentic made any official overture, according to the people, who asked not to be identified because they weren’t authorized to ...