Nike Inc. pronounced as “naiki or naik” is an American giant in sportswear industry. It is a multinational corporation headquartered in Beaverton, Oregon, in the Portland metropolitan area. The Company committed in design, development, manufacturing and worldwide marketing-sales of footwear, apparel, equipment, accessories.
How it’s stated?
Nike, was known as Blue Ribbon Sports (BRS). It was founded in January 25th, 1964. It was founded by Bill Bowerman who was track/field coach at University of Oregon and his former student Phil Knight. They did open their first retail outlet in 1966. At the beginning they started as a distributor for Japanese shoe maker company Onitsuka Tiger.
After few successful years in 1971 the relationship between Onitsuka Tiger and BRS came to end. At that time Phil Knight and Bill Bowerman decided to start their own manufacturing company and launched the Nike brand in 1972. The company officially changed their name to Nike inc. in 1978, after two years in 1980 they became public.
The company’s name Nike, inspired from the Goddess of Victory. The logo created by Carolyn Davidson in 1971 who was an graphic designer student of Portland State University.
Do you know?
- Bowerman invented an iconic sole pattern after putting rubber into a waffle iron in 1971 for Waffle trainers.
- Ilie Nastase was the first athlete signed by Nike in 1972.
- They launched the “AIR” technology in 1979.
- In 1987 they introduced new Air Max shoes to the Beatles for making their first ad with the band’s music.
- The “Just do it” campaign launched in 1988.
- They get criticized for poor working conditions, low wages in Indonesian Factories in 1991.
- In 1996 they Launched Nike ACG (all conditioning gear).
- They became official supplier for NFL (2012) and NBA (2015).
- In 1990s Nike received criticism for contracting with factories in China, Vietnam, Indonesia and Mexico (known as Nike Sweatshops). There was poor working conditions and low wages.
- In 1990s They has been criticized for using child labor in Cambodia and Pakistan factories where they contracted to manufacture soccer balls.
- They faced criticism after launching Vapor fly shoes in Tokyo Olympic 2020. Research says the shoes can improve efficiency by up to 4.2% because it reduces soreness in the legs.
- Recently on March 29, 2021 They criticized for launching Nike Air Max 97s, which was called Satan shoes. The shoes are black and red with a bronze pentagram, inspired from Bible verse Luke 10:18 as It was filled with 1 drop or 60 cc of human blood. Nike denied and stated that they were uninvolved for this creation.
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From the 1980s Nike expanded their business with lots of acquisitions like Cole Han (1988 to 2012), Converse (2003), Constar Sports, Inc. (1994 to 2008), Umbro (2008 to 2012).
The Nike was valued near around 35 billion U. S. Dollar in 2020. As of 2020, it has more around 76,000 employees at the moment, in 170 counties. They serves more than 30 major sports and consumer lifestyles. The US giant topped the ranking of the world’s most valuable apparel brands 7th time in a row.