Converse lost much of its apparent near-monopoly from the 1970s onward, with the surge of new competitors, including Puma and Adidas, then Nike, then a decade later Reebok, who introduced radical new designs to the market. Converse found themselves no longer the official shoe of the National Basketball Association, a title they had relished for many years.
The loss of market share, combined with poor business decisions forced Converse to file for bankruptcy on January 22, 2001. When the company subsequently changed hands that year, the last factory in the United States was closed. Thereafter, manufacturing for the American market was no longer performed in the United States, but instead in a number of Asian and European countries, including China, Indonesia, Italy, Lithuania and Vietnam.
On July 9, 2003, the company accepted a $305 million purchase offer from rival Nike.
Current NBA players wearing Converse include Kirk Hinrich, Jameer Nelson, Andre Miller, Kyle Korver, Alando Tucker, Acie Law, Udonis Haslem, Maurice Evans and Elton Brand.