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. "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 reopened in 2014 with four floors of merchandise. Knight poses for a photo in March 1994. CNN Sans ™ & © 2016 Cable News Network. 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. Nike leads in Chinese market share at 22.1%, followed by Adidas with 18.6% and Anta a distant third at 10.4%. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Omissions? Like Nike’s image as a running and basketball shoe company, Under Armour is presently only associated with American Football. The company also makes equipment for just about every sport. Bowerman, right, meets with runner Steve Prefontaine after a race in Eugene, Oregon, in June 1970. Blue Ribbon Sports officially changed its name its name to Nike Inc. in 1978 and launched its first clothing line in 1979. 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. 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. James Drake/Sports Illustrated/Getty Images. Andrew D. Bernstein/NBAE/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. Edd Griffin/REX/AP. Nike emerged the clear winner. PHOTO: Find Nike retail stores near you PHOTO: The "swoosh" was created in 1971 by Carolyn Davidson, a graphic design student from Portland State University in Portland, Oregon. Nike vice president and GM of Greater China Angela Dong explains the company's "category offense" strategy to hit a big revenue goal. Our editors will review what you’ve submitted and determine whether to revise the article. That month prosecutors filed a lawsuit that accused Ronaldo of defrauding the…. The company was renamed Nike, Inc., in 1978 and went public two years later. It had sold $70 million worth by May, according to ESPN's Darren Rovell. Part of what has allowed Nike to expand its online and omnichannel initiatives so quickly, Shi says, is its new global e-commerce platform. Here, Bowerman watches some of his athletes train. Ronaldo’s immense marketability was at the centre of a legal issue that arose in June 2017. In the same year, it signed an endorsement contract with Romanian ATP tennis player Ilie Năstase. U.S. sprinter Michael Johnson wears gold Nike shoes at the 1996 Olympic Games in Atlanta. Let us know if you have suggestions to improve this article (requires login). PHOTO: Updates? They opened their first retail outlet in 1966 and launched the Nike brand shoe in 1972. Ezra Shaw/Getty Images. Today Nike, Inc. dominates the global sports footwear market with a 38% market share. Wally McNamee/Corbis, Workers in Ho Chi Minh City, Vietnam, stitch Nike shoes in July 1997. Paul Kitagaki Jr/The Oregonian/AP. Olympic decathlete Ashton Eaton, left, and pro football player Victor Cruz speak at a Nike event in New York in October 2013. 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). Mike Hewitt/Getty Images. This timeline shows Nike's revenue in Europe, the Middle East and Africa (EMEA) from 2016 to 2020, by segment. Serge Attal/The LIFE Images Collection/Getty Images. Logo of Nike. 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. Now, he's taking Nike in a new direction, targeting overseas expansion—and not just with the Nike "swoosh." Last week he set the ambitious goal of increasing sales 40%, to $27 billion, by 2015. Nike started as Blue Ribbon Sports in the 1960s. Hooper's group said the "Air" symbol resembled "Allah" in Arabic, and the shoes were recalled. PHOTO: "I truly believe the American consumer doesn't want to buy products made under abusive conditions. Formula One champion Michael Schumacher presents his new Nike racing shoe in Cologne, Germany, in January 1996. 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. Under Armour is using the same strategy that worked for Nike in Europe. In addition to the Nike name, the footwear company also debuted the now famous "swoosh" mark that appears on all of its athletic items. PHOTO: Johnson was one of the major stars of the Olympics, winning the 200 meters and the 400 meters in record time. Nike is proud to be expanding the Nike Community Impact Fund to Europe. PHOTO: 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. PRODUCTS & ORDERS. In addition to individual athletes, Nike has signed apparel deals with major sports teams across the world, including London soccer club Arsenal. 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. Both domestically and overseas Nike operates retail stores, includin… Nike delivers innovative products, experiences and services to inspire athletes. 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. 37 Nike's golden shoes on Olympic athlete Michael Johnson was a strategic marketing technique for Nike. Nike, Inc., formerly (1964–78) Blue Ribbon Sports, American sportswear company headquartered in Beaverton, Oregon. 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. Nike also outfits many college athletic programs, and its work with Oregon's football team helped make the program a recruiting powerhouse. 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. STORE LOCATOR. 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. 1-800-806-6453 4 am - 11 pm PT 7 days a week. 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. To complete your CNN profile and ensure you are able to receive important account information, please verify your email address. These are the first designs of Nike's trademark stripe, which is now known as the "swoosh." Moreover, he established his own successful “CR7” brand of products that included shoes, underwear, and fragrances. Password reset email has been resent. Success! 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. Please click the button below to agree to our Terms and Conditions and acknowledge our Privacy Policy. The name "Nike" comes from the Greek goddess of victory. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. A Warner Media Company. Knight originally wanted to name Nike ‘Dimension 6’. Did you know…? 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. 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 and Adidas remain far ahead, however, not only on the world stage but also in China. 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. Knight had been teaching an accounting class there on the side, and he paid Davidson $35 for her work. Nike logo. Nike’s first employee, Jeff Johnson chose the name ‘Nike’. PHOTO: Chat with us 4 am - 11 pm PT 7 days a week. NikeTown in London is the company's largest store. PHOTO: Success! All Rights Reserved. Nike debuted its signature "Just Do It" slogan in 1988. In the 1990s the company’s image briefly suffered from revelations about poor working conditions in its overseas factories. In response to allegations of child labor in its overseas factories, Nike promised to improve working conditions and raise minimum ages. Focus on Sport/Getty Images. 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). Third at 10.4 % and conditions and acknowledge our Privacy Policy also in China shoe 1972! Niketown in London is the company 's first athletic shoe Nike 's come a way... And went public two years later she was also given stock in the 1990s the company used! 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