Nike is a brand which is loved by sports enthusiasts and fashion savvy people across the globe. The Nike background dates back to 1964, USA when it was founded by Bill
Founding Date: January 25th, 1964
Company Name: Nike, Inc
Industry: Apparels and Accessories
Country: Washington County, Oregon, USA
Company Website: www.nike.com
Bowerman and Phil Knight. The company has its headquarters in Beaverton, Oregon. It is known for its amazing range of sports accessories and apparels, which leading sports players vouch by. In 2012, the company’s annual revenue was estimated to be at US$2.4 billion.
Nike Background – The Beginning
Phil Knight was a middle distance runner from Portland and he coached under Bill Bowerman. The coach felt that his pupil’s performance would drastically improve if he had a better pair of shoes. Thus, the master set himself to the task and came up with various sports shoes versions but none were really great.
During the same time, Phil wrote a paper for his MBA studies which was a suggestion to manufacture shoes that were in league with the ones found in the German market. However, when no one took note of his ideas, he went on to incorporate his ideas by imported shoes from Japan and sell them in the local market. His former coach proposed to join him and thus was established Blue Ribbon Sports in 1964. Though, the company started off at a slow rate, it soon started showing high sales figures.
The Launch of Nike Background
As their bargain paid off, Phil and Bill decided to launch a new line of shoes. They faced a lot of challenges and finally in 1971 went on launch shoes that were lighter in weight and had better traction. In the year 1972, they introduced their sports shoes in US Track and Field Trials.
The company roped in Steve Prefontaine who was a well known athlete with a number of track records to his credit, to be their first ever brand ambassador. In 1979, Nike came up with a new technology named Nike Air which reinstated their position in the market as a tough competition to other sports shoes companies.
Thanks to the success they achieved, they were able to go public in 1980. They went on to become the top athletic shoe suppliers in the American market.
Diversification into Accessories and Apparels
Encouraged by the acceptance their athletic and training shoes got from the customers, Nike launched shoes for different sporting events like tennis, cricket, soccer, baseball, basketball etc.
They also diversified into designing and manufacture of sports jerseys, socks, leggings, shorts, skirts, caps and all things that a sportsperson would need for a game. Their innovations in these apparels were highly appreciated by the sports stars who found these quite comfortable for play.
The Nike Success
From the early Nike background, the company has come a long way and experienced great success. It has a special line of custom made apparels, shoes and accessories for leading sports stars. It acquired a number of companies to expand its horizons. With more than 44000 employees working for it, the company’s’ value is estimated at $10 billion.