Nike is an American multinational corporation that designs, develops, and sells footwear, apparel, equipment, and services worldwide. It is headquartered near Portland, Oregon and is one of the largest athletic shoe and apparel suppliers as well as a major sports equipment manufacturer, with over $24 billion in annual revenue. Nike sponsors top athletes in many sports who use and promote its technology and designs, and has contracted with over 700 retail shops around the world while operating its own Niketown stores. The company manufactures most of its products in factories located throughout Asia.