Nike's Iconic Swoosh logo. Photo Credit: Nike

Investors who have enjoyed Nike's (NYSE:NKE) surge this year have more good news to celebrate: management thinks the future is equally as bright.

On Wednesday, Nike held its first analyst meeting in two years and outlined its growth projections. Even though Nike has reached a large market capitalization, and recently joined other behemoth corporations in the Dow Jones Industrial Average, executives believe its revenue growth will remain at a high pace.

Graph by Author. Information credit: 2014-2017 projected from Nike remarks.

Executives on Wednesday projected the company's revenue to grow 19% by fiscal 2015, reaching $30 billion. Nike also expects to reach $36 billion by fiscal 2017, but will need to improve its business in China to reach these goals.

"China is in reset mode, but we're really focused on the great position we have there," said Nike CEO Mark Parker, according to the Associated Press. "It remains one of our biggest growth areas."

Nike's recent quarterly report beat Wall Street expectations, but one red flag was that its future orders in China were only up 3%, compared to 11% and 25% increases in North America and Central/Eastern Europe, respectively.

Aside from improving its business in China, Nike must focus on its strengths to meet those future revenue projections: basketball, running, and women's footwear and apparel.

Nike expects roughly an incremental $1 billion in annual basketball-related sales alone through fiscal 2017. Nike holds upwards of 90% of the world's most significant basketball market, the United States. What goes hand in hand with that statistic is that Nike's iconic basketball brands hold tremendous pricing power.

Brian Sozzi, CEO of Belus Capital Advisors, recently spoke of Nike's pricing power after the company's quarterly report, according to Investors Business Daily. "They were very successful in pushing through price increases everywhere. That tells us if you have a brand and product like Jordan sneakers that people want, they will pay full price for it. Other consumer companies don't have that luxury."

Another area of growth Nike wants to improve is its direct-to-consumer sales. As e-commerce continues to grow as a part of retail sales, Nike anticipates reaching its goal of $5 billion in DTC sales in fiscal 2015, which is a year earlier than expected. The company plans to improve that figure to $8 billion by the end of fiscal 2017.

Bottom line
Nike started as a shoe company inspired by making rubber soles out of a waffle maker, but has grown to be one of the most iconic brands in the world. It's proven through innovation and growth strategies that it can remain king of the hill for decades to come. These growth projections are reachable for the company, and as Nike continues its history of reducing its shares outstanding and increasing dividends, shareholders will continue to be rewarded along the way.

Fool contributor Daniel Miller has no position in any stocks mentioned. The Motley Fool recommends Nike. The Motley Fool owns shares of Nike. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.