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