Nike has grown to be the world's largest marketer of athletic footwear, holding a g lobal market share of approximately 37 percent. In the United States, Nike products are sold through about 22, retail accounts; worldwi de, the company's products are sold in more than countries.
Both domestically and overseas Nike operates retail stores, including Nike Towns and factory outlets. Nearly all of the items are manufactured b y independent contractors, primarily located overseas, with Nike invo lved in the design, development, and marketing.
In addition to its wi de range of core athletic shoes and apparel marketed under the flagsh ip Nike brand, the company also sells footwear under the Converse, Ch uck Taylor, All Star, and Jack Purcell brands through wholly owned su bsidiary Converse Inc.
The firm also sells Nike and Bauer brand ath letic equipment; Hurley surfing, skateboarding, and snowboarding appa rel and footwear; and Cole Haan brand dress and casual footwear. Nike has relied on consistent innovation in the design of its products an d heavy promotion to fuel its growth in both U.
Knight, a Stanford University business graduate who had bee n a member of the track team as an undergraduate at the University of Oregon. Traveling in Japan after finishing business school, Knight g ot in touch with a Japanese firm that made athletic shoes, the Onitsu ka Tiger Co.
Knight was convinced that Japanese runnin g shoes could become significant competitors for the German products that then dominated the American market. Bowerman had long been experime nting with modified running shoes for his team, and he worked with ru nners to improve the designs of prototype Blue Ribbon Sports BRS sh oes.
The following y ear, the company rented its first retail space, next to a beauty salo n in Santa Monica, California, so that its few employees could stop s elling shoes out of their cars. A shoe with the upper portion made of nylon went into de velopment inand the following year Bowerman and another employ ee came up with the Boston shoe, which incorporated the first cushion ed midsole throughout the entire length of an athletic shoe.
Also in the company was incorporated as BRS, Inc. Th e company was poised for greater growth, but Knight was frustrated by a lack of capital to pay for expansion. Inusing financing fro m the Japanese trading company Nissho Iwai Corporation, BRS was able to manufacture its own line of products overseas, through independent contractors, for import to the United States.
At this time, the comp any introduced its Swoosh trademark and the brand name Nike, the Gree k goddess of victory.
These new symbols were initially affixed to a s occer shoe, the first Nike product to be sold. A year later, BRS broke with its old Japanese partner, Onitsuka Tigerafter a disagreement over distribution, and kicked off promotion of its own products at the U.
Nike shoes were geared to th e serious athlete, and their high performance carried with it a high price. Bowerman continued his innovations in running-shoe design with the in troduction of the Moon shoe inwhich had a waffle-like sole tha t had first been formed by molding rubber on a household waffle iron.
This sole increased the traction of the shoe without adding weight. In BRS opened its first U. This growth was fueled in part by aggres sive promotion of the Nike brand name. The company sought to expand i ts visibility by having its shoes worn by prominent athletes, includi ng tennis players Ilie Nastase and Jimmy Connors.
At the Olympic Trials these efforts began to pay off as Nike shoes were worn by ris ing athletic stars. To keep up with demand, the company opened new factories, add ing a stitching plant in Maine and additional overseas production fac ilities in Taiwan and Korea. International sales were expanded when m arkets in Asia were opened in and in South America the following year.
European distributorships were lined up in Nike continued its promotional activities with the opening of Athleti cs West, a training club for Olympic hopefuls in track and field, and by signing tennis player John McEnroe to an endorsement contract.
In the company changed its name to Nike, Inc. The company expanded its line of products that year, adding athletic shoes for children. By Nike sold almost half the running shoes bought in the United States, and the company moved into a new world headquarters building in Beaverton, Oregon.
In addition to its shoe business, the company b egan to make and market a line of sports clothing, and the Nike Air s hoe cushioning device was introduced. In DecemberNike went public, offering two million shares o f stock. With the revenues generated by the stock sale, the company p lanned continued expansion, particularly in the European market.
In t he United States, plans for a new headquarters on a large, rural camp us were inaugurated, and an East Coast distribution center in Greenla nd, New Hampshire, was brought on line. In addition, the company boug ht a large plant in Exeter, New Hampshire, to house the Nike Sport Re search and Development Lab and also to provide for more domestic manu facturing capacity.
The company had shifted its overseas production a way from Japan at this point, manufacturing nearly four-fifths of its shoes in South Korea and Taiwan. It established factories in mainlan d China in By the following year, when the jogging craze in the United States ha d started to wane, half of the running shoes bought in the United Sta tes bore the Nike trademark.
The company was well insulated from the effects of a stagnating demand for running shoes, however, because it gained a substantial share of its sales from other types of athletic shoes, notably basketball shoes and tennis shoes.
Given slowing growth in the U.
The company o pened a factory in Ireland to enable it to distribute its shoes witho ut paying high import tariffs, and in bought out its distributor s in England and Austria, to strengthen its control over marketing an d distribution of its products.History Nike was previously known as Blue Ribbon Sports (RBS) founded in by Phil Knight and Bill Bowerman.
Phil Knight was a middle distance runner hailing from Portland who trained under track and field coach Bill Bowerman. Nike, Inc.: Nike, Inc., American sportswear company headquartered in Beaverton, Oregon. It was founded in as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight.
The company was renamed Nike, Inc., in and went public two years later. A Brief History of Nike.
July 22, Oregon – and the rest is history. Today Nike, Inc. dominates the global sports footwear market with a 38% market share. The company employs more than 40, people around the world and generates more than $21 billion a year in sales. NIKE, Inc. - Company Profile, Information, Business Description, History, Background Information on NIKE, Inc.
Your source for the latest NIKE, Inc. stories, news and company information. Nike News > History. Nike News Your source for the latest NIKE, Inc.
stories. jerseys. The History of Nike Prints. Nike, Inc. SuccessStory. History. Nike was previously known as Blue Ribbon Sports (RBS) One such company is Umbro. right now, Nike has two subsidiaries, Converse Inc. and Hurley International. Nike sponsors several football, tennis and basketball players.
They also have a .