Nike is an American multinational corporation engaged in the design, development, manufacturing, and worldwide marketing of sales in footwear accessories and services. The company becomes 89th rank with 32billion in market value in the year 2020. The company’s footwear is in high demand in the market. The company owner is an athlete and has an idea to design the footwear the unique design. He creates footwear based on the needs of the intended audience. He successfully understands the audience’s expectations and delivers them with passion. The amount of hard work giving the company determines its success. The owner won an Olympic gold medal. Nike brand products include shoes, jerseys, shorts, cleats, baselayers, and other sportswear for men, women, and children, as well as clothing for football, track and field, combat sports, tennis, American football, hockey, and cross-training. Cristiano Ronaldo, one of the top three football players, is the Nike brand ambassador. He signs a lifetime contract with Nike for $1 billion. Nike’s brand ambassador logo features his famous kicks. One of the company’s most well-known products is an innovative shoe that can be electrically connect to a smartphone. The footwear contains computing devices that connect to the wearers’ smartphones. Nike’s brand accounts for up to 40% of the global footwear market. Nike’s headquarters are in Beaverton, Oregon, in the Portland metropolitan area, United States. It is the world’s largest supplier and manufacturer of sporting goods. The company’s net revenue is expected to be $46.4 billion USD in 2022. Nike employs approximately 76700 individuals. The company’s net worth has been approximatively $40.3 billion USD. Nike’s CEO from January 2020 to the present is John Donahoe.
On January 25, 1964, Bill Bowerman and Phil Knight established the Nike brand. It was approximately 58 years old.Bill Bowerman is a coach, and Phil Knight is a track athlete at the University of Oregon. In 1960, Bill Bowerman won an Olympic gold medal. He began his career as a coach. He is interested in shoemaking. Otis Davis was a Bill Bowerman student in 1964.
Otis Davis wore shoes made by Bowerman. Davis told everyone this. But no one believes he can make shoes for Otis because he was an Olympic gold medalist. This shoe made of waffle iron resulted in grooves on the soles. When athletes wear them can help them grip the surface of running tracks. It was initially unpopular among users, but after the company met the audience’s expectations, which changed to a good brand.
Naming as Nike:
In January 1964, the company was initially Blue Ribbon Sports. After gaining exposure, the company decided to change its name. ‘Dimension 6’ and ‘Nike’ were chosen as company names. Finally, given the name Nike. Nike comes from the Greek word, which means “victory.” Prior to that, the company was pronouncing “ny-kee.” The name was changed later to Nike. Carolyn Davidson, a student at Portland State University, designed the Nike logo for only $35. The company’s sponsor is on the high team all over the world. The company’s slogans “JUST DO IT” and “SWOOSH” are popular today.
The company sold the first 1300 pairs of shoes for $8000 in 1964. The company sold 20,000 pairs of shoes in 1965.The company opened its first retail store at 3107 Pico Boulevard in Santa Monica, California, in 1966. The company expanded its retail shop in 1967. Blue Ribbon Sports and Japanese shoemaker Onitsuka Tiger parted ways in 1971, and Blue Ribbon Sports launched its footwear line. Blue Ribbon Sports was renamed Nike and registered in the United States Patent and Trademark Office on January 22, 1974. It was the first time Nike used it. Carolyn Davidson created the new “SWOOSH” logo. Hired John Brown and partners in 1976 to form the first advertising agency for the Nike brand. Nike’s famous brand logo, “THERE IS NO FINISH LINE,” is created. Nike introduced new Air Max shoes to the market in 1978, with a beaten song strategy for marketing purposes. Nike obtained 50% of the market share in the footwear brand in 1980, and its slogan became one of the top five advertising slogans. Wieden and Kennedy, primarily an advertising agency, created the slogan. In 1984, the company expanded its production hubs in China, Indonesia, Vietnam, and the United States and began marketing globally. Zoom air shoes were popular and were introduces in 1995.
Tensile Air shoes were the name of the shoes. In 2010, the company opened its largest store in London, measuring 42000 square feet. The store has four floors and sells between 250 and 300 Nike brands.
Company’s Net Worth:
The company’s net worth was $8.7 billion in 2005 where 26000 employers worked. The company’s net worth was $14.4 billion in 2010. The company’s net worth was $21.5 billion in 2015. The company’s net worth is expected to be $31.3 billion in 2020. The company’s net worth will be $40.3 billion in 2022, and it currently employs 79100 people. The company’s total net worth increased by 10% per year.
In 1982, three national television advertisements with Wieden and Kennedy for the broadcast of the New York Marathon. In 1987 Nike brand created a Beatles song against Apple with capital records in North America for US $250000 for recording. Nike discontinued airing advertisements in 1988. In 2005, the company made Nike 6.0 advertisements for T-shirts with logos of “GET HIGH”, “RIDE PIPE” and “DOPE”. The logo is famous for making Nike popular among audiences. It gives value to the customer when using the Nike brand. In 1995, the company signed a deal for 8years for a uniform supplier of the league. The dealing started in 2017. Before that, Addidas made a sponsor for the leagues in 2006. After that, Nike overtook Addidas. The strategies are changing up to the market’s ups and downs. It makes Nike exposed to the audience with the current market.
Nike promotes and advertises many football, basketball, track and field athletes and other athletes. The player becomes wealthy quickly after Nike sponsors him. For example, Michael Jordan has earned more than $1 billion from Nike, named the most valuable endorsement in sports. The player’s personal brand might improve. The best players who have received Nike sponsorship are listed separately below.
The athlete’s first sponsor came from the Romanian city of Ilie Nastase and is a tennis player. Following that was Steve Prefontaine, a long-distance runner. He was a co-founder of Prized Pupil and a Bill Bowerman student at the University of Oregon. The company sponsors to track and field athletes such as Sebastian Coe, Carl Lewis, Jackie Joyner, Kersee, Michael Johnson, and Allyson Felix. Michael Jordan, a basketball player, was sponsored in 1984. Spike Lee’s sponsorship was the most beneficial to the company. Football becomes popular in the 1990s. Ronaldo, Ronaldinho, Francesco Tohi, Thierry Henry, Didier Drogba, Andres Iniesta, and Wayne Rooney are all sponsors by the company. Nike sponsors football’s biggest stars, including Cristiano Ronaldo, Zlatan Ibrahimovic, Neymar, Harry Kane, and Eden Hazard.
Nike Golf, Nike Dunk, Airmax, Foamposite, Nike Skateboard, and Nike CR7 are some of the company’s most well-known products. Nike brand sells a lot of these products.