Nike's come a long way since its first track shoes. It is one of the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24.1 billion in its fiscal year 2012 (ending May 31, 2012). In addition to individual athletes, Nike has signed apparel deals with major sports teams across the world, including London soccer club Arsenal. Last week he set the ambitious goal of increasing sales 40%, to $27 billion, by 2015. The first Air Jordans hit stores in March 1985, selling at $65 a pair. "The Nike product has become synonymous with slave wages, forced overtime, and arbitrary abuse," Knight said when announcing the changes in May 1998. Basketball legend Michael Jordan was the face of Nike in the 1980s, and his Air Jordan shoe line helped grow the company into a global giant. Olympic decathlete Ashton Eaton, left, and pro football player Victor Cruz speak at a Nike event in New York in October 2013. Nike's Asia Pacific & Latin America revenue rose 5 percent, while Europe, Middle East & Africa sales were up 4 percent for the quarter. Moreover, he established his own successful “CR7” brand of products that included shoes, underwear, and fragrances. Here is one of its new soccer cleats launched in New York for the 2014 World Cup. PHOTO: Nike vice president and GM of Greater China Angela Dong explains the company's "category offense" strategy to hit a big revenue goal. The name "Nike" comes from the Greek goddess of victory. The Nike "Moon Shoe," with its waffle sole designed by Bowerman, was Blue Ribbon Sports' first major design innovation when it debuted at the U.S. Olympic Track and Field Trials in 1972. Knight originally wanted to name Nike ‘Dimension 6’. Ezra Shaw/Getty Images. The company was renamed Nike, Inc., in 1978 and went public two years later. That month prosecutors filed a lawsuit that accused Ronaldo of defrauding the…. PRODUCTS & ORDERS. Verification email has been resent. These are the first designs of Nike's trademark stripe, which is now known as the "swoosh." In the United States, Nike products are sold through about 22,000 retail accounts; worldwi de, the company's products are sold in more than 160 countries. Find Nike retail stores near you The e-commerce giant Amazon has bet big on India, even boasting on a company website last year about its ability to deliver to a remote Himalayan village 11,500 feet above sea level. Andrew D. Bernstein/NBAE/Getty Images. STORE LOCATOR. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight. Just a few years ago, it seemed like the global battle between Nike and Adidas for sneaker dominance was all but over. The NikeTown chain stores, the first of which opened in 1990, pay tribute to these and other company spokespersons while offering consumers a full range of Nike products. 38 There are now more strict rules about companies doing marketing techniques like these. PHOTO: Years later she was also given stock in the company. Omissions? Success! PHOTO: Johnson was one of the major stars of the Olympics, winning the 200 meters and the 400 meters in record time. Founded in 1964 by University of Oregon track athlete Philip Knight and his coach Bill Bowerman, Nike has become a leading player in the athletic footwear and apparel industry. Nike’s European Headquarters is located in Hilversum, just 40 minutes from the center of Amsterdam. Nike footwear grew in popularity as the company continued … They opened their first retail outlet in 1966 and launched the Nike brand shoe in 1972. Paul Kitagaki Jr/The Oregonian/AP. Throughout its history, Nike has signed endorsement deals with some of the biggest names in sports, including Schumacher, Tiger Woods, Roger Federer and LeBron James. Password reset email has been resent. According to Mintel, 20%of the U.S. athletic market is controlled by Nike. Nike, Inc., formerly (1964–78) Blue Ribbon Sports, American sportswear company headquartered in Beaverton, Oregon. Like Nike’s image as a running and basketball shoe company, Under Armour is presently only associated with American Football. Adidas AG (German: [ˈʔadiˌdas]; stylized as adidas since 1949) is a German multinational corporation, founded and headquartered in Herzogenaurach, Germany, that designs and manufactures shoes, clothing and accessories.It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike… The business started trading as a retail outlet and continued selling Japanese … Today Nike, Inc. dominates the global sports footwear market with a 38% market share. Ibrahim Hooper, communications director of the Council on American-Islamic Relations, gestures during a June 1997 news conference with samples of Nike shoes in the foreground. Part of what has allowed Nike to expand its online and omnichannel initiatives so quickly, Shi says, is its new global e-commerce platform. "I truly believe the American consumer doesn't want to buy products made under abusive conditions. PRODUCTS & ORDERS. Formerly grounds of the 1928 Amsterdam Olympic Equestrian Games, the campus features fabulous sport facilities and running tracks. Alan Levenson/The LIFE Images Collection/Getty Images. Hooper's group said the "Air" symbol resembled "Allah" in Arabic, and the shoes were recalled. PHOTO: Nike, Inc. (/ ˈ n aɪ k i /) is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services.The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area.It is the world's largest … Updated The founders liked the idea of using Nike as a brand name and used it for the company's first athletic shoe. In 1996 the company created Nike ACG (“all-conditions gear”), which markets products for extreme sports such as snowboarding and mountain biking. It reopened in 2014 with four floors of merchandise. Nike is a transnational corporation (TNC) founded nearly half a century ago. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree.... …contract from the sportswear company Nike. Nike delivers innovative products, experiences and services to inspire athletes. In addition to the Nike name, the footwear company also debuted the now famous "swoosh" mark that appears on all of its athletic items. CNN Sans ™ & © 2016 Cable News Network. Updates? If an account exists, we've sent an email with a link to reset your password. Nike logo. Mike Lawrie/Getty Images. 8:08 AM EDT, Tue March 27, 2018. In the same year, it signed an endorsement contract with Romanian ATP tennis player Ilie Năstase. So, they moved on from being distributors of athletic footwear to designers and manufacturers of athletic footwear and took full control over their value chain. Knight is fourth from the right. It was the start of many product endorsement packages that have become part of the growth of the Nike brand. Bowerman, right, meets with runner Steve Prefontaine after a race in Eugene, Oregon, in June 1970. Nike is proud to be expanding the Nike Community Impact Fund to Europe. Between fiscal 2017 and fiscal 2019, the region’s revenues increased at a CAGR of 7.2%. "Move" continued to attract notice, however, and it won the 2002 Emmy Award as the outstanding commercial from the Academy of Television Arts and Sciences and a … It was nicknamed the "Moon Shoe" because it left craters in the dirt. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Roland Weihrauch/AP. Ronaldo’s immense marketability was at the centre of a legal issue that arose in June 2017. Prefontaine would later become the first track athlete to endorse Nike products. Our editors will review what you’ve submitted and determine whether to revise the article. The retail store distributed Onitsuka Tiger shoes, which are now known as Asics. The new Nike line of footwear, which would go on to dominate the world of sports footwear for the next four decades, made its debut in 1972 at the U.S. Track & Field Trials in Eugene, Oregon – and the rest is history. The "swoosh" was created in 1971 by Carolyn Davidson, a graphic design student from Portland State University in Portland, Oregon. The company was renamed Nike, Inc., in 1978 and went public two years later. Nike also outfits many college athletic programs, and its work with Oregon's football team helped make the program a recruiting powerhouse. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. University of Oregon. PHOTO: Did you know…? Did you know that the swoosh logo was patterned after the wings … By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. He was Nike's chairman and CEO. This article was most recently revised and updated by, https://www.britannica.com/topic/Nike-Inc, American Studies at the University of Virginia - Nike History and Timeline. Blue Ribbon Sports officially changed its name its name to Nike Inc. in 1978 and launched its first clothing line in 1979. But perhaps the company's biggest boom came in the 1980s when it signed basketball star Michael Jordan to an endorsement deal. Wally McNamee/Corbis, Workers in Ho Chi Minh City, Vietnam, stitch Nike shoes in July 1997. All Rights Reserved. Success! Nike apologized to Muslims for any unintentional offense. Serge Attal/The LIFE Images Collection/Getty Images. In fact, it takes a lot of research, hard work, and growth at home before a retailer can take that "go big, or go home" step. Please click the button below to agree to our Terms and Conditions and acknowledge our Privacy Policy. A Warner Media Company. Nike and Adidas remain far ahead, however, not only on the world stage but also in China. BRS renamed the company Nike, Inc. in 1973. ", PHOTO: To complete your CNN profile and ensure you are able to receive important account information, please verify your email address. Nike started as Blue Ribbon Sports in the 1960s. Focus on Sport/Getty Images. Nike is the world market leader in athletic shoes and apparel and operates in more than 200 countries. Adidas has been unsuccessful in an attempt to expand its trademark three-stripe design in the EU after a court ruled it was not “distinctive” enough. Knight had been teaching an accounting class there on the side, and he paid Davidson $35 for her work. Nike was introducing its FuelBand activity tracker, continuing to expand its business past more than shoes. © 2020 Cable News Network. PHOTO: The company also makes equipment for just about every sport. It did so by appealing to the runners and casual athletes who still make up Nike’s core market, and by being one of the earliest American companies to outsource most of its manufacturing to Asia. This waffle iron was found in a trash heap nearly 40 years after it inspired Bowerman to create a new kind of sole for running shoes -- one that didn't have spikes but could still have grip. In response to allegations of child labor in its overseas factories, Nike promised to improve working conditions and raise minimum ages. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. Logo of Nike. PHOTO: 1-800-806-6453 4 am - 11 pm PT 7 days a week. PHOTO: The new strategy includes consistent financial contributions from Nike to LIVESTRONG, including international expansion for the collection, starting in July 2010. Formula One champion Michael Schumacher presents his new Nike racing shoe in Cologne, Germany, in January 1996. The history of Nike goes back to 1963-64, when Phil Knight,a mid-distance runner, and Bill Bowerman, a track coach,set up a company called Blue Ribbon Sports, and began to import and sell high-tech running shoes from Japan. Part of Nike’s success is owed to endorsements by such athletes as Michael Jordan, Mia Hamm, Roger Federer, and Tiger Woods. Since 2012, Nike has run its mobile, domestic and international shopping sites on one platform, which uses pieces of IBM Inc. and Oracle Inc. e-commerce platform technology.This has allowed Nike … Nike did not make the cost of the commercial public, and by the spring of 2002 the company had moved on to other, more product-focused campaigns. PHOTO: In the 1990s the company’s image briefly suffered from revelations about poor working conditions in its overseas factories. Here, Bowerman watches some of his athletes train. From the late 1980s Nike steadily expanded its business and diversified its product line through numerous acquisitions, including the shoe companies Cole Haan (1988; sold in 2012) and Converse, Inc. (2003), the sports-equipment producer Canstar Sports, Inc. (1994; later called Bauer and sold in 2008), and the athletic apparel and equipment company Umbro (2008; sold in 2012). Corrections? Europe, Asia, North and Latin America are the main markets in which Nike sells its products, which makes it a truly global organisation. Mike Hewitt/Getty Images. Nike has been so successful by continual innovative ideas and timely investments that have resulted in Nike remaining a leading brand across the world as well as making huge profits every year. Now, he's taking Nike in a new direction, targeting overseas expansion—and not just with the Nike "swoosh." In 1972, Romanian tennis star Ilie Nastase was the first major athlete to sign an endorsement deal for Nike shoes. Nike would expand its worker education programme, with free secondary-school equivalent courses. PHOTO: Knight poses for a photo in March 1994. In the early 21st century Nike began selling sports-technology accessories, including portable heart-rate monitors and high-altitude wrist compasses. Edd Griffin/REX/AP. Nike debuted its signature "Just Do It" slogan in 1988. Under Armour is using the same strategy that worked for Nike in Europe. Let us know if you have suggestions to improve this article (requires login). It had sold $70 million worth by May, according to ESPN's Darren Rovell. 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