Nike, Inc. (NYSE: NKE) was founded in 1964, its predecessor was “Blue Ribbon Sports”, which was changed to its current name in 1972. Headquartered in Beaverton, Oregon, USA, it employs 73,100 people worldwide , Is the overlord & leader in sports and sporting goods industry.
Nike, Inc. (NKE):
Nike (NIKE) was established in 1964, formerly known as Blue Ribbon Sports established on January 25, 1964, and officially became Nike, Inc. on May 30, 1971, engaged in footwear, clothing, equipment, and accessories worldwide Product design, development and marketing. It mainly produces sports shoes, sportswear, and sports goods, which are sold under its own brands, including Nike, Air Jordan, Nike Golf, Team Starter, etc., as well as the wholly-owned brand Converse. The most familiar trademarks of the brand include the Just Do It and Swoosh logos.
Nike distributes sports shoes and sports apparel, and its product portfolio includes shoes for running, training, basketball and football, as well as sports urban shoes and children’s shoes. The company also markets special shoes and casual shoes for tennis, golf, baseball, football, lacrosse, race walking, outdoor activities, skateboarding, cycling, volleyball, wrestling, cheerleading, water sports, and many other sports.
Nike provides jersey kits for many football clubs and national and regional football teams around the world, including Chelsea, Paris Saint-Germain, Barcelona, Manchester City, Inter Milan, Brazil, China, France, England, the Netherlands, Portugal, Hong Kong and the United States.
Nike is headquartered in Beaverton, a suburb of Portland, Oregon, with branches in South Korea and Taiwan. Nike’s name is derived from the goddess of victory in Greek mythology, Niche.
Nike, Inc. (NKE) history:
- In 1962, Phil Knight wrote a paper at Stanford University, estimating that cheap sports shoes made in Japan could compete with high-priced sports shoes made in Germany. After earning an MBA degree, Knight went to Japan to meet with managers of the manufacturer Onitsuka Tiger, trying to persuade them to let Knight-owned Blue Ribbon Sports (Blue Ribbon Sports) become Tiger’s agent on the West Coast of the United States.
- In 1964, Knight sent the model of Tiger shoes to the legendary track and field coach Bill Bowerman of the University of Oregon. Knight participated in middle distance running as an undergraduate. Bowerman suggested establishing a partnership with Knight, while Bowerman provided endorsement clout and sneaker design ideas. The two shook hands and each contributed $500 to open a new company.
- In 1965, Jeff Johnson, Knight’s former rival in track and field, joined as the company’s first salesperson. He sold sneakers to college students in the back of his minivan.
- In 1966, Johnson opened the company’s first retail store in Santa Monica, California. Knight and Bowerman turned their handshake agreement into a formal contract.
- In 1967, Knight and Bowerman established the Blue Ribbon Sports Company and registered as BRS, Inc.
- In 1969, Knight quit his job as an accountant at the time and devoted himself to BRS, Inc.
- In 1970, Bowerman experimented with rubber spikes. He poured a liquid rubber mixture into his wife’s waffle container, and later created a waffle sole (‘waffle’ sole).
- In 1971, the relationship between BRS and Onitsuka Tiger deteriorated and Knight began to create a new brand of sports shoes. Knight hired a graphic design student Carolyn Davidson of Portland State University to design the new brand and put the brand on the side of the shoe. She received a salary of $35 and worked for Nike for several years until Nike needed the services of an advertising company. Twelve years later, in 1983, Davidson received a gold ring with diamonds and the Swoosh logo, a certificate, and an unknown number of Nike stocks at a lunch in recognition of her contribution to Nike by designing the Swoosh logo .
- In 1971, in addition to the new logo, BRS also needed a new name for its new product. More than a dozen suggestions, including Knight’s favorite “Dimension Six” were rejected, until Jeff Johnson thought of Nike, the name of the Greek goddess of victory. .
- In 1972, the first Nike product, denoted by Swoosh, was sent to Eugene, Oregon, for athletes participating in the US Olympic track and field trials.
- In 1973, American record holder Steve Pfontany became the first major track athlete to wear Nike running shoes, and many of his teammates switched to Nike shoes until his death on May 30, 1975.
- In 1974, The Waffle Trainer was launched, which soon became the best-selling training shoe in the United States.
- In 1977, Nike’s print advertisement introduced the slogan “There is no finish line”, which was very popular and launched a poster version in response to customer needs.
- In 1978, tennis player “Bad Boy” John Mark Anno signed a contract with Nike.
- In 1979, Nike’s air cushion “Air” technology, patented by inventor M. Frank Rudy, was first applied to Tailwind running shoes. The inflatable film was put into the sole of running shoes to provide cushion protection.
- In 1980, Nike entered China.
- On December 2, 1980, Nike completed its initial public offering and issued 2,377,00 Class B ordinary shares.
- On December 31, 1981, BRS merged with Nike, and the company was named Nike.
- In 1982, Dan Wieden and Dave Kennedy opened their own advertising agency and brought Nike to the new company on April 1. In October, Nike aired its first national TV commercial during the live broadcast of the New York Marathon.
- In 1982, the Air Force 1 basketball shoe became the first Nike basketball shoe to use air cushions on the playing field.
- In 1984, Nike signed with basketball player Michael Jordan. The first generation of basketball shoes Air Jordan launched for Michael Jordan was originally banned by the NBA and attracted wide public attention. The introduction of the Air Jordan basketball shoe series is one of Nike’s key success factors. In the same year, Nike also signed Buckley and John Stockton.
- In 1986, the total annual sales exceeded US$1 billion for the first time.
- In 1987, the Nike Air Max sports shoes were first introduced, using a larger air cushion, and for the first time designed to be visible on the middle side of the sole. This became the first generation of Air Max brand technology, followed by more generations of products. The first generation of Air Max TV commercials, using the Beatles song Revolution, is the first and only time the Beatles’ songs have been used in TV commercials.
- In 1988, Nike first launched the “Just Do It” slogan.
- In 1989, Nike launched a sneaker specially designed for training, and there was a series of commemorative advertisements called “Bo Knows”, with athlete Bo Jackson who participated in the two sports as the protagonist.
- In 1990, the world’s first Niketown store opened in downtown Portland and won many retail design and commercial awards. In the following 10 years, Nike opened 14 Niketown stores in the United States, Britain and Germany.
- In 1990, Nike opened its world headquarters in Washington County, west of Portland, covering an area of 74 acres (0.3 square kilometers).
- In 1993, Nike led the innovative sustainable management plan “Reuse-A-Shoe”, recycling all sports shoes to be divided and ground, used to pave the floor of the stadium and track and field.
- In 1993, Buckley appeared in a controversial Nike TV commercial, claiming “I am not a role model.”
- In 1994, Nike signed a long-term contract with the Brazilian national football team.
- In 1995, Nike launched a TV and print advertising program called “If you let me to play sports”, which pointed out the multiple benefits of encouraging young women to participate in sports.
- In 1996, Nike signed a contract with golfer Tiger Woods, who used Nike Golf products. At that time, Woods had just turned from an amateur to a professional golfer.
- In 1996, Nike’s advertisement at the Atlanta Olympics caused controversy. The publicity slogan “You Don’t Win Silver — You Lose Gold” (you did not win the silver medal, but lost the gold medal) attracted many people, including many. Fierce criticism from former Olympic silver and bronze medalists.
- In 1998, there was a time when Nike changed the “Just Do It” slogan to “I Can” after a poll.
- In 1998, Phil Knight formally established Nike’s product production equipment standards, including minimum age of employment; air quality; compulsory education courses; promotion of small loans; factory supervision and further transparency of Nike’s corporate social responsibility.
- In 1999, Bill Bowerman, one of the founders of Nike, died on December 24 at the age of 88.
- In 1999, although the initial criticism would cause anxiety about the millennium, Nike’s TV commercial “Morning After” won the 2000 Emmy Award for Best TV Commercial. The content of the advertisement is that when a young man was running outside on January 1, 2000, he passed through scene after scene of people worrying about accidents and problems in 2000.
- In 2000, Nike launched the Shox shock absorption and support system, which was first worn by Vince Carter and other members of the US National Basketball team at the 2000 Sydney Olympics.
- In 2001, Nike founded the Casey Martin Award. The award is awarded every year to athletes who strive to improve in adversity-whether the difficulty is physical, volitional, social or cultural. The name of the award was taken from Casey Martin, a professional golfer who was able to use the golf cart in the game due to a rare problem with his right leg and fought hard with the US Supreme Court.
- In 2002, Nike GO was launched, which greatly increased the time spent on sports among young people aged 9 to 15.
- In 2002, rap singer Nili released a top-ranking song about one of Nike’s footwear products “Air Force I”.
- In 2002, Nike won the Emmy Award for the second time with a TV ad called “Move”. This ad features a variety of different sports, connected one by one.
- In 2003, Nike bought Converse, a sports goods company that had gone bankrupt, for US$350 million.
- Since the founding of Nike in 2003, the sales of international products surpassed that of the United States for the first time, witnessing Nike’s continued development into a multinational company.
- In 2003, Nike won the Best Advertiser Award of the Year at the Cannes Advertising Festival. It was the first company to win twice in the 50 years since the festival was held (the first award in 1994).
- In 2003, college basketball star LeBron James signed with Nike and became the best rookie in the NBA that year.
- In 2004, Phil Knight ceased to serve as president and CEO, but continued to serve as chairman. The CEO was succeeded by William D. Perez on December 28.
- In 2004, Nike founded the Exeter Brands Group, a sub-group that produces low-priced sports shoes and sports goods. Brands include Starter, Team Starter, Asphalt, Shaq and Dunkman.
- In 2004, the total annual profit exceeded 12.3 billion U.S. dollars.
- In 2004, Nike launched the “LIVESTRONG” campaign to raise funds for the cyclist Lance Armstrong’s foundation. Selling yellow rubber bracelets for $1, hoping to inspire cancer patients to survive strongly, by September 2005, more than 55 million have been sold.
- In June 2004, Zhu Zhiqiang, a Chinese animation producer with a pen name, sued Nike for plagiarizing its cartoon “Stickman” in business. Nike representatives deny this accusation, claiming that the stickman image lacks originality and is in the public domain. Zhu Zhiqiang eventually won the lawsuit, and Nike was ordered to pay the cartoonist $36,000.
- In 2005, Nike launched the “Air Jordan 20th Generation”. Nike also launched the Nike Free series, which not only protects the feet, but also provides the wearer with advantages like barefoot training.
- In 2005, Nike’s total profit for the year ended May 31 was $13.7 billion, an increase of 12% over the previous fiscal year.
- On June 13, 2006, in response to Nike’s appeal, the Beijing Higher People’s Court ruled that the “black stick villain” did not constitute infringement and rejected Zhu Zhiqiang’s claim.
- October 25, 2012, for $ 225 million sale of the brand Umbro to Iconix Brand Group (Iconix Brand Group, Inc., NASDAQ : ICON).
- On November 7, 2012, at a price of US$500 million (approximately HK$3.875 billion), it sold its handbag and footwear brand Cole Haan to private equity fund Apax Partners.
- On December 10, 2015, he signed a “lifetime contract” with NBA Uranus star LeBron James. This is the first lifetime contract in NIKE’s 44-year history. .
- In June 2018, invited LV and Dior Homme menswear directors Virgil Abloh and Kim Jones to design a World Cup jersey series called “Football, mon amour” for Nike.
- In 2018, Craig Green and Nike launched a joint series, using Nike Flyknit sneaker fabric for menswear design.