Now, he's taking Nike in a new direction, targeting overseas expansion—and not just with the Nike "swoosh." 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. Nike started as Blue Ribbon Sports in the 1960s. Find Nike retail stores near you 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. U.S. sprinter Michael Johnson wears gold Nike shoes at the 1996 Olympic Games in Atlanta. BRS renamed the company Nike, Inc. in 1973. Nike also outfits many college athletic programs, and its work with Oregon's football team helped make the program a recruiting powerhouse. In response to allegations of child labor in its overseas factories, Nike promised to improve working conditions and raise minimum ages. NikeTown in London is the company's largest store. It was nicknamed the "Moon Shoe" because it left craters in the dirt. 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. "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 … PHOTO: In the early 21st century Nike began selling sports-technology accessories, including portable heart-rate monitors and high-altitude wrist compasses. The new strategy includes consistent financial contributions from Nike to LIVESTRONG, including international expansion for the collection, starting in July 2010. Blue Ribbon Sports was founded by Bill Bowerman, track-and-field coach from the University of Oregon, and former Oregon track athlete Phil Knight. Part of what has allowed Nike to expand its online and omnichannel initiatives so quickly, Shi says, is its new global e-commerce platform. Nike debuted its signature "Just Do It" slogan in 1988. PHOTO: Blue Ribbon Sports began making its own shoes, and it launched the Nike brand in the early 1970s. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. CNN Sans ™ & © 2016 Cable News Network. Nike vice president and GM of Greater China Angela Dong explains the company's "category offense" strategy to hit a big revenue goal. To complete your CNN profile and ensure you are able to receive important account information, please verify your email address. 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. Nike is proud to be expanding the Nike Community Impact Fund to Europe. © 2020 Cable News Network. PHOTO: The founders liked the idea of using Nike as a brand name and used it for the company's first athletic shoe. PRODUCTS & ORDERS. Nike’s European Headquarters is located in Hilversum, just 40 minutes from the center of Amsterdam. "I truly believe the American consumer doesn't want to buy products made under abusive conditions. Verification email has been resent. PHOTO: The company was renamed Nike, Inc., in 1978 and went public two years later. Both domestically and overseas Nike operates retail stores, includin… 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. Success! PHOTO: PHOTO: Nike, Inc., formerly (1964–78) Blue Ribbon Sports, American sportswear company headquartered in Beaverton, Oregon. In the same year, it signed an endorsement contract with Romanian ATP tennis player Ilie Năstase. It was the start of many product endorsement packages that have become part of the growth of the Nike brand. To help accomplish the goal, Chinese president Xi Jinping announced plans to expand the country’s “sport economy” to $850 billion by 2025, which would make it the world’s largest. Wally McNamee/Corbis, Workers in Ho Chi Minh City, Vietnam, stitch Nike shoes in July 1997. Formula One champion Michael Schumacher presents his new Nike racing shoe in Cologne, Germany, in January 1996. Scott Houston/Corbis. 38 There are now more strict rules about companies doing marketing techniques like these. 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. In 1996 the company created Nike ACG (“all-conditions gear”), which markets products for extreme sports such as snowboarding and mountain biking. 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… Ezra Shaw/Getty Images. Like Nike’s image as a running and basketball shoe company, Under Armour is presently only associated with American Football. Chat with us 4 am - 11 pm PT 7 days a week. Success! Roland Weihrauch/AP. The name "Nike" comes from the Greek goddess of victory. Formerly grounds of the 1928 Amsterdam Olympic Equestrian Games, the campus features fabulous sport facilities and running tracks. The retail store distributed Onitsuka Tiger shoes, which are now known as Asics. Nike footwear grew in popularity as the company continued … 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). Nike delivers innovative products, experiences and services to inspire athletes. 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. PRODUCTS & ORDERS. Ronaldo’s immense marketability was at the centre of a legal issue that arose in June 2017. Corrections? All Rights Reserved. In addition to the Nike name, the footwear company also debuted the now famous "swoosh" mark that appears on all of its athletic items. Here, Bowerman watches some of his athletes train. Did you know…? According to Mintel, 20%of the U.S. athletic market is controlled by Nike. Years later she was also given stock in the company. PHOTO: Andrew D. Bernstein/NBAE/Getty Images. 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. Just a few years ago, it seemed like the global battle between Nike and Adidas for sneaker dominance was all but over. Paul Kitagaki Jr/The Oregonian/AP. 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. The company was renamed Nike, Inc., in 1978 and went public two years later. Knight poses for a photo in March 1994. Founded as an importer of Japanese shoes, NIKE, Inc. (Nike) has grown to be the world's largest marketer of athletic footwear, holding a g lobal market share of approximately 37 percent. 37 Nike's golden shoes on Olympic athlete Michael Johnson was a strategic marketing technique for Nike. In 1972, Romanian tennis star Ilie Nastase was the first major athlete to sign an endorsement deal for Nike shoes. They opened their first retail outlet in 1966 and launched the Nike brand shoe in 1972. Password reset email has been resent. Nike’s first employee, Jeff Johnson chose the name ‘Nike’. Part of Nike’s success is owed to endorsements by such athletes as Michael Jordan, Mia Hamm, Roger Federer, and Tiger Woods. 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. Last week he set the ambitious goal of increasing sales 40%, to $27 billion, by 2015. 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. James Drake/Sports Illustrated/Getty Images. 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. In the 1990s the company’s image briefly suffered from revelations about poor working conditions in its overseas factories. Omissions? If an account exists, we've sent an email with a link to reset your password. Moreover, he established his own successful “CR7” brand of products that included shoes, underwear, and fragrances. He was Nike's chairman and CEO. But perhaps the company's biggest boom came in the 1980s when it signed basketball star Michael Jordan to an endorsement deal. Blue Ribbon Sports officially changed its name its name to Nike Inc. in 1978 and launched its first clothing line in 1979. Olympic decathlete Ashton Eaton, left, and pro football player Victor Cruz speak at a Nike event in New York in October 2013. It reopened in 2014 with four floors of merchandise. Our editors will review what you’ve submitted and determine whether to revise the article. The business started trading as a retail outlet and continued selling Japanese … 1-800-806-6453 4 am - 11 pm PT 7 days a week. Nike logo. 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 … Logo of Nike. STORE LOCATOR. 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. Nike did a variety of creative marketing techniques that would suggest Olympics, but never mention it in the advertisement. PHOTO: Nike's Asia Pacific & Latin America revenue rose 5 percent, while Europe, Middle East & Africa sales were up 4 percent for the quarter. Europe, Asia, North and Latin America are the main markets in which Nike sells its products, which makes it a truly global organisation. PHOTO: 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. Nike apologized to Muslims for any unintentional offense. Nike's come a long way since its first track shoes. Nike and Adidas remain far ahead, however, not only on the world stage but also in China. PHOTO: That month prosecutors filed a lawsuit that accused Ronaldo of defrauding the…. Nike would expand its worker education programme, with free secondary-school equivalent courses. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. 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. 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). 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. 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 … Knight had been teaching an accounting class there on the side, and he paid Davidson $35 for her work. Knight originally wanted to name Nike ‘Dimension 6’. Nike leads in Chinese market share at 22.1%, followed by Adidas with 18.6% and Anta a distant third at 10.4%. Did you know that the swoosh logo was patterned after the wings … PHOTO: Let us know if you have suggestions to improve this article (requires login). University of Oregon. 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. Serge Attal/The LIFE Images Collection/Getty Images. 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. Johnson was one of the major stars of the Olympics, winning the 200 meters and the 400 meters in record time. ", PHOTO: PHOTO: Here is one of its new soccer cleats launched in New York for the 2014 World Cup. VIDEO 2:40 02:40 Still cautious on Nike into Q4: Widlitz Mike Hewitt/Getty Images. The United Kingdom, France, Germany, Austria, and Switzerland are Nike’s key target markets in Europe. The "swoosh" was created in 1971 by Carolyn Davidson, a graphic design student from Portland State University in Portland, Oregon. Nike was introducing its FuelBand activity tracker, continuing to expand its business past more than shoes. "The Nike product has become synonymous with slave wages, forced overtime, and arbitrary abuse," Knight said when announcing the changes in May 1998. These are the first designs of Nike's trademark stripe, which is now known as the "swoosh." The first Air Jordans hit stores in March 1985, selling at $65 a pair. Today Nike, Inc. dominates the global sports footwear market with a 38% market share. Prefontaine would later become the first track athlete to endorse Nike products. Updated Mike Lawrie/Getty Images. Under Armour is using the same strategy that worked for Nike in Europe. Updates? 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. 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. 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. Knight is fourth from the right. Nike emerged the clear winner. Please click the button below to agree to our Terms and Conditions and acknowledge our Privacy Policy. Edd Griffin/REX/AP. 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. It had sold $70 million worth by May, according to ESPN's Darren Rovell. This timeline shows Nike's revenue in Europe, the Middle East and Africa (EMEA) from 2016 to 2020, by segment. PHOTO: 8:08 AM EDT, Tue March 27, 2018. Bowerman, right, meets with runner Steve Prefontaine after a race in Eugene, Oregon, in June 1970. Alan Levenson/The LIFE Images Collection/Getty Images. A Warner Media Company. Nike is a transnational corporation (TNC) founded nearly half a century ago. 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. The company also makes equipment for just about every sport. Nike is the world market leader in athletic shoes and apparel and operates in more than 200 countries. Hooper's group said the "Air" symbol resembled "Allah" in Arabic, and the shoes were recalled. Between fiscal 2017 and fiscal 2019, the region’s revenues increased at a CAGR of 7.2%. 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