Nike

Introduction

NIKE, Inc. (NYSE: NKE[1]) and its subsidiaries are involved in the design, development and marketing of products such as footwear, apparel, equipment and accessories worldwide. Its mission is "to bring innovation and inspiration to every athlete in the world*. *If you have a body, you are an athlete" (Bowerman,B)[2] The corporation caters for all types of sport and lifestyles, designing various forms of footwear from athletic footwear for running, to shoes designed for hiking and outdoor activities. In addition, it sells a line of performance equipment, including golf clubs, sport balls, timepieces, electronic media devices, skates, bats, gloves, swimwear, cycling apparel, children's clothing, school supplies, and eyewear. The company sells its products to retail accounts, through its owned retail stores, and through a mix of independent distributors and licensees.

The company takes its name from the Greek goddess of victory, Nike.

Background/History

Nike is the world's number one manufacturer and marketer of athletic footwear and apparel. It was founded in 1964 when it was firstly called Blue Ribbon Sports and its headquarters are situated in Beaverton, Oregon. It was co-founded by Bill Bowerman, who was the track and field coach for the University of Oregan and Philip H. Knight, a student from the University and a middle-distance runner under Bowerman. Nike was established as one of the world's most familiar brands during the 1980s and 1990s and has propelled to the extent that it now operates 184 stores in the United States and 190 stores globally. It owns facilities in Oregon, Tennessee, North Carolina and The Netherlands, and operates leased facilities for 14 Niketowns, over 200 Nike Factory Stores, a dozen NikeWomen stores and over 100 sales and administrative offices. The company now reaches out to most of the planet, operating in regions of the world such as the US, the Americas, Europe, the Middle East, the Asia Pacific region and Africa. This significant growth in recent years is shown by the fact that the company provides 26,000 full-time jobs. Nike has also expanded financially and has reported net revenues of $13.7 billion, a 12 percent increase from FY'04.[3]

Nike, Inc now markets its products under its own brand Nike Swoosh as well as under Air Jordan, Nike Golf and Team Starter among others, and under brands from wholly owned subsidiaries including Bauer, Cole Haan, Converse, and Hurley International.

Nike Timeline

The following timeline is taken directly from Wikipedia [4]

The 1960s

• 1962
  • Phil Knight drafts a thesis paper at Stanford University in which he asserts that low-priced athletic shoes made in Japan could compete with more expensive footwear made in Germany. After earning his MBA, Knight travels to Japan, where he meets with executives from Onitsuka Tiger and persuades them to make Knight's company, Blue Ribbon Sports, the distributor of Tiger brand footwear for the western United States.

• 1964
  • Knight sends samples of Tiger footwear to University of Oregon track coach Bill Bowerman, for whom Knight ran middle distances while an undergraduate. Bowerman suggests that he and Knight become partners, with Bowerman to provide endorsement clout as well as footwear design ideas. The two shake hands and each pledge $500 to start the new venture.

• 1965
  • Jeff Johnson, a former track rival of Knight's, joins as the company's first full-time salesman. He sells shoes out of the back of his van to high schoolers at track meets.

• 1966
  • Johnson opens the company's first retail outlet in Santa Monica, California. Knight and Bowerman convert their handshake agreement into a formal, written agreement.

• 1967
  • Knight and Bowerman incorporate Blue Ribbon Sports, creating BRS, Inc.

• 1969
  • With annual sales approaching $300,000, Knight resigns as a professor at Portland State University to devote himself full-time to BRS, Inc.