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The Story of Nike brand, how it was founded and how it reached the top sportwear MarketShare in the world
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- 2. The Founders Bill Bowerman Phil Knight
- 3. William (Bob) Jay Bowerman 1911-1999 An American track and field coach at the University of Oregon. Born in Portland, Oregon, His father was a former governor. Attended the University of Oregon to play football and study journalism. 2nd Lieutenant in the US army and got promoted to a commander in 1944. Became the head track coach at the University of Oregon, in 1948.
- 4. Philip Hampson Knight 1938 University of Oregon and the Stanford Graduate School of Business. (MBA) He was part of the track and field club under coach Bill Bowerman at the University of Oregon. Owner of the stop motion film production company Laika. As of 2023, Forbes estimated his net worth at $40 billion Donated over $2 billion hundreds of millions of dollars to each of schools and universities, as well as Oregon Health & Science University.
- 5. How it is started? The company was founded in 1964 by a student Phil Knight (Phil Knight), he was a middle-distance runner in the team of the University of Oregon and his coach Bill Bowerman (Bill Bowerman).
- 6. The Problem: "Can Japanese sports shoes do to German sports shoes what Japanese cameras did to German cameras?"
- 7. 1975 1979 1980 1984 1987 1972 1971 1964 1963 Signed a Contract with Onitsuka Tigers in Japan Founded Blue Ribbon Sports. Ad for new Air Max using Beatles‘ "Revolution," Nike completes IPO with a price of 18 cents a share. Founded Nike Inc. Nike Waffle Trainer shoe was created. Nike signs Michael Jordan, launching Air Jordan series Nike Air was created Romanian tennis player Ilie Nastase endorsement
- 8. 1991 1995 1996 1998 1999 1990 1989 1988 1988 Just Do It Slogan inspired by the serial killer Gary Gilmore “Just Do It” campaign launched featuring 80-year-old running icon Walter Stack running across the Golden Gate Bridge. Nike co-founder Bill Bowerman dies at 88 Tiger Woods "Bo Knows" ad campaign baseball and football star Bo Jackson. First factory code of conduct. Protest A few Team of NFL First Niketown store opens in Portland, Oregon Nike Revenue 6.74 Billion Long Term Contract W Brazilian Teams
- 9. 2012 2014 2017 2018 2021 2006 2004 2003 2002 An environmentally preferred rubber 96% fewer toxins Nike buy Hurley Surfing As it stands in 2021, Nike, Inc. exists as the biggest and largest supplier of athletic shoes, apparel and other sporting equipment. NBA’s Official Supplier Acquires Converse $309 million. NFL’s Official Supplier. Ad Campaign featuring Colin Kaepernick Most Valued Brand Among sports $19 billion Phil Knight Steps down as CEO Lebron James Kobe Bryant Mike Parker CEO
- 10. Air Max using Beatles‘ "Revolution,“ Song
- 11. Death of Matthew Knight In May 2004, two years after Knight bought Vinton, his son Matthew, aged 34 years, traveled to El Salvador to film a fund-raising video for Christian Children of the World, a Portland nonprofit organization. However, while scuba diving he died due to an undetected congenital heart defect. Knight resigned as Nike CEO on November 18, 2004, several months after Matthew's funeral but retained the position of chairman of the board and William Perez was appointed.
- 12. Nike Partners with 13 Women Athletes to Bring Equality to Sports 2022
- 13. Top Athletes Sponsored by Nike
- 17. Nike Facts Nike, is the world leader in athletic footwear and apparel. Nike employed over 83,000 people and operated more than 1,000 retail stores worldwide as of 2023. Footwear Revenues Account for 64% of Total Revenues Nearly 12% of Revenues Come from Emerging Markets Nike holds a 38.23% total market share In February 2022, Nike.com had over 98 million visits In 2022, Nike’s global revenue amounted to about $46.71 billion U.S. dollars
- 18. NIKE Annual Revenue (Millions of US $) 19,176 19,014 20,117 23,331 25,313 27,799 30,601 32,376 34,350 36,397 39,117 37,403 44,538 46,710 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 2,009 2,010 2,011 2,012 2,013 2,014 2,015 2,016 2,017 2,018 2,019 2,020 2,021 2,022
- 19. Competition
- 20. Controversy
- 21. Sweat Shops Nike has faced a long history of controversy over its labor practices. The company was founded on a principle of finding cheaper labor to produce same- quality goods and followed this unfailingly, till it finally came back to bite them. While reports of abuse at the Nike factories still persist, many human rights activists have acknowledged Nike's efforts to have minimized the worst problems at these factories, and the public outcry today over the company's labor conditions is a shadow of what it once was.
- 22. Tiger Woods Nike was happy to stand by golfer Tiger Woods through multiple scandals Woods was first involved in a car crash before also publicly admitting that he had been unfaithful to then-wife Elin Nordegren in a series of affairs. Despite various other personal turbulence in recent years, the brand continues to collaborate with the now 47-year-old.
- 23. Colin Kaepernick In 2018, Nike made a huge splash, tweeting a photo of NFL player Colin Kaepernick as the new face of its brand. The 49ers quarterback had become a lightning rod for controversy back in 2016 after being the first football player to take a knee during the national anthem in protest of police brutality toward black Americans. The ad garnered a predictable mix of support and controversy. Some, seeing Nike's endorsement of Kaepernick as a betrayal of patriotic values, chose to quite publicly announce their boycott of Nike by posting videos of themselves burning their Nike shoes. 49ers management consequently did not renew Kaepernick's contract and no other NFL team signed him.
- 24. NIKE AD Featuring San Francisco 49ers QB Colin Kaepernick
- 25. “Besty Ross” Flag in 2019 In 2019, Nike was forced to drop its Fourth of July sneakers because they featured an early American flag, known as 'Betsy Ross,' on the heel. 'Nike has chosen not to release the Air Max 1 Quick Strike Fourth of July as it featured the old version of the American flag,' a Nike spokeswoman told the outlet.
- 26. Partnering with transgender influencer Dylan Mulvaney in 2023 Nike sparked backlash earlier this week after partnering with transgender influencer Dylan Mulvaney on its latest sports bra campaign It remains unclear how much money Mulvaney was paid for the postings, but insiders dealing with social media sponsorships previously told DailyMail.com she could be making more than $50,000 per paid post.
- 27. Kyrie Irving to being engulfed in anti-Semitic controversy 2022 NBA star Kyrie Irving signed with Nike in 2011 and had a signature line of shoes from 2014 in an annual endorsement deal believed to be worth at least $11 million. But, in 2022, the sportswear giant was forced to part ways with the basketball pro. Irving faced criticism after sharing a link to the Amazon page for the 2018 film Hebrews to Negroes: Wake Up Black America, which contained anti-Semitic tropes.
- 28. Resources • https://www.forbes.com/sites/mikeozanian/2014/10/07/the-forbes-fab-40-the- worlds-most-valu able-sports-brands-2014/#161224ad3885 • https://revenuesandprofits.com/how-nike-makes-money-understanding-nike- business-model/ http://mallenbaker.net/article/clear-reflection/nike-and-child- labour-how-it-went-from-laggard-to-leader • https://www.commondreams.org/headlines01/1020-01.htm • https://www.bizjournals.com/portland/news/2017/06/15/nike-announces-1- 400-layoffs-new-corp orate.html
- 29. • List of Nike sponsorships – Wikipedia • Number of Nike's U.S. retail stores 2023 | Statista • History of Nike: Timeline and Facts – TheStreet • Shoe Dog by Phil Knight | Instaread • Nike History Timeline (businessinsider.com) • NIKE timeline | Timetoast timelines • https://news.nike.com/news/nike-inc-reports-fiscal-2016-fourth-quarter-and- full-year-results
Editor's Notes
- William Jay Bowerman (February 19, 1911 – December 24, 1999) was an American track and field coach and co-founder of Nike, Inc.[1] Over his career, he trained 31 Olympic athletes, 51 All-Americans, 12 American record-holders, 22 NCAA champions and 16 sub-4 minute milers.[2] Bowerman disliked being called a coach,[3] and during his 24 years at the University of Oregon, the Ducks track and field team had a winning season every year but one, attained 4 NCAA titles, and finished in the top 10 in the nation sixteen times. As co-founder of Nike, he invented some of their top brands, including the Cortez and Waffle Racer, and assisted in the company moving from being a distributor of other shoe brands to one creating their own shoes in house. Born in Portland, Oregon, Bowerman's father Jay was a former governor;[4] his mother, Elizabeth Hoover Bowerman, had grown up in Fossil. In 1929, Bowerman attended the University of Oregon to play football and study journalism. At the suggestion of longtime track coach Bill Hayward, he also joined the track team. He was a member of Beta Theta Pi Fraternity. After graduating, he taught biology and coached football at Franklin High School in Portland in 1934. In 1935, Bowerman moved back to Medford to teach and coach football during which won a state title in 1940.[6] Bowerman married Barbara Young on June 22, 1936. Their first son, Jon, was born June 22, 1938. William J. Bowerman, Jr. ("Jay") was born November 17, 1942. Their third son, Tom, was born May 20, 1946. Military career[edit] Bowerman had been in the ROTC and Army Reserve, and then joined the United States Army as a 2nd Lieutenant in the days following the Pearl Harbor attack. He was assigned to Fort Lawton in Washington and served a year there before being assigned to the 86th Mountain Infantry Regiment at Camp Hale in Leadville, Colorado. He was in the 87th Mountain Infantry Regiment, the regiment became a part of the 10th Mountain Division.[7] Bowerman's duty entailed organizing the troops' supplies and maintaining the mules used to carry the supplies in the mountains. On December 23, 1944, the division arrived in Naples, Italy and soon moved north to the mountains of northern Italy.[8] During his tour of duty, Bowerman was promoted to commander of the 86th Regiment's First Battalion at the rank of Major.[9] Bowerman negotiated a stand-down of German forces near the Brenner Pass in the days before the surrender of the German army in all of Italy.[10] For his service, Bowerman received the Silver Star and four Bronze Stars. He was honorably discharged in October 1945.[11]
- Philip Hampson Knight (born February 24, 1938) is an American billionaire business magnate who is the co-founder and chairman emeritus of Nike, Inc., a global sports equipment and apparel company. He was previously its chairman and CEO.[1] As of October 2023, Forbes estimated his net worth at $40 billion.[2][3] He is also the owner of the stop motion film production company Laika. Philip Hampson Knight (born February 24, 1938) is an American billionaire business magnate who is the co-founder and chairman emeritus of Nike, Inc., a global sports equipment and apparel company. He was previously its chairman and CEO.[1] As of October 2023, Forbes estimated his net worth at $40 billion.[2][3] He is also the owner of the stop motion film production company Laika. Knight is a graduate of the University of Oregon and the Stanford Graduate School of Business. (MBA) He was part of the track and field club under coach Bill Bowerman at the University of Oregon with whom he would later co-found Nike. Knight has donated hundreds of millions of dollars to each of his alma maters, as well as Oregon Health & Science University. He has donated over $2 billion to these three institutions Politics[edit] Knight is a registered Republican and a frequent contributor to Republican political candidates in Oregon. In 2010, he donated $400,000 to Chris Dudley, the then Republican nominee for Governor of Oregon. Knight occasionally supports Democrats, however; in 1986 he financed Neil Goldschmidt's successful campaign, and in 2014, he donated $250,000 to the re-election campaign of Democrat John Kitzhaber.[98][99] He donated $3.5 million to Republican Knute Buehler during the 2018 Oregon gubernatorial election.[100] Regarding this donation, Knight criticized the unfunded Oregon Public Employees Retirement System and the general fiscal state of Oregon, implying Democratic governor Kate Brown was at fault.[98]
- Phil Knight finished his MBA at Stanford At University of Oregon, he ran for the school's track and field team, putting him into contact with their coach, Bill Bowerman. Aside from an intensely competitive ethos, Bowerman displayed a fascination with optimizing his runners' shoes, constantly tinkering with different models after learning from a local cobbler. According to Nike, Knight was the first student to try one of Bowerman's shoes. After the University of Oregon, Knight went through Stanford's MBA program, during which he wrote a paper theorizing that the production of running shoes should move from its current center in Germany to Japan, where labor was cheaper. Knight got the chance to put this theory to the test with a trip to Japan shortly after his 1962 graduation. He struck a deal with a group of Japanese businessmen to export the country's popular Tiger shoes into the U.S. Coach Bowerman, who long believed that German shoes, though the best on the market, weren't anything too special to be replicated or even improved on, supported Knight's venture, entering into a 50-50 business deal for ownership of their new company $500 each, Blue Ribbon Sports, established in Eugene, Oregon, on Jan. 25, 1964. History of Nike After founding Blue Ribbon Sports, Knight tested the waters for his imported shoes, initially selling them out of his car when he came back to the States. It quickly became clear that a demand existed for these cheaper but still high-quality alternatives to the Adidas (ADDYY) and Pumas (PUMSY) that dominated the market. In 1965, the ever-inventive Bowerman proposed a new shoe design to the Tiger shoe company, one that sought to provide the right support for runners with a cushioned innersole, soft sponge rubber in the forefoot and top of the heel, hard sponge rubber in the middle of the heel, and a firm rubber outsole. This design would turn out to be both a major success and source of conflict between Blue Ribbon and its Japanese supplier. Dubbed the Tiger Cortez, the shoe dropped in 1967 and became an instant hit for its comfortable, sturdy, and stylish design. Around the time of its success, though, relations soured between Blue Ribbon and Tiger. Knight claims that the Japanese company was seeking a way out of its exclusivity deal with Blue Ribbon and sought to sink the company. Tiger claims to have discovered Blue Ribbon Sports selling their own version of the Tiger Cortez under a new line of shoes they called "Nike." Either way, the two formally split in 1971 with a lawsuit from Tiger following. A judge eventually settled that both companies could sell their own versions of the model, leading to the only sneaker to become a best-selling model for two different shoe companies as the Nike Cortez and the Tiger Corsair (now sold by Tiger's modern incarnation, Asics). Following the split with Tiger, Blue Ribbon Sports fully rebranded itself as Nike. Phil Knight initially wanted to call the company "Dimension 6," but Jeff Johnson, thankfully, got the inspiration for Nike after seeing the Greek goddess of victory's name in a dream. Before this though, the new brand needed its own logo. They reached out to a design student at the nearby Portland State University, Carolyn Davis, to provide sketches. Phil Knight reluctantly settled on a swoosh design, reportedly saying, "Well, I don't love it, but maybe it will grow on me." Davis charged $2/hour and received a total of $35 for the logo. In 1983 Phil Knight, apparently having come around to the logo, held a party for Davidson and awarded her 500 shares of stock, speculated to be worth roughly $1 million today. After coming into existence proper on May 30, 1971, Nike, Inc. continued the success of Blue Ribbon Sports, helped first by the success of the Tiger Cortez and then by Bowerman's innovative "Waffle" sole design. While thinking over breakfast on a way to give running shoes more traction, the coach saw the grooves in the waffle his wife made him and wondered what it would look inverted. Not one to pass on an idea, Bowerman poured melted urethane into his waffle iron. Unfortunately, he forgot to add any anti-stick agent onto the iron and it glued shut. But nevertheless, the idea had taken root, and with the help of another waffle iron and presumably a good spray, he designed his ideal sole and the iconic "Waffle Trainer" was born. This shoe was a major success for Nike, the first of many to come as the company maintained a strong and steady growth through its early days, culminating in its 1980 IPO, which immediately made Phil Knight a millionaire with shares worth $178 million. Since then, the company has only continued to grow, helped on in part by a series of clever ad campaigns, most famously the 1988 "Just Do It" ad campaign (apparently inspired by the last words of American murderer Gary Gilmore before the firing squad, "Let's do it.") The company's other greatest asset has been its celebrity endorsements. They struck big signing athletes like Tiger Woods, Kobe Bryant, and Lebron James in the early stages of their career. By far the most lucrative endorsement Nike has ever had, both for the company and its sponsor, has been with Michael Jordan. Spotting potential, Nike tried to swoop in for an endorsement from Jordan before the start of his first season with the pros in 1984. Despite having never worn a pair of Nikes before and harboring hope for a deal with Adidas, Jordan ended up signing on with Nike after a meeting in which they promised the soon-to-be star $500,000 a year for five years, two die cast Mercedes cars, and shoes customized to his specific requests. The deal proved a smash hit for Nike, with Jordan quickly rising to super stardom and his shoe line, Air Jordans, hitting the market to make over $100 million in revenue by the end of 1985. Air Jordans continue to be a cash cow for Nike. Despite some recent declines in sales, the brand still nets the company a staggering $2.8 billion in sales for 2018. Jordan continues to make roughly $100 million a year in Nike royalties alone. Nike Timeline 1964 - Phil Knight and Bill Bowerman found Blue Ribbon Sports. 1971 - Cutting ties with Onitsuka Tiger (now Asics), Blue Ribbon Sports becomes Nike Inc., using swoosh logo created by Portland State University student Carolyn Davis for $35 1971 - Bowerman comes up with iconic sole pattern for Waffle Trainers after putting rubber into a waffle iron 1972 - Romanian tennis player Ilie Nastase becomes the first athlete to sign an endorsement with Nike. 1979 - Nike introduces patented "Air" technology with new Tailwind shoe. 1980- Nike completes IPO with a price of 18 cents a share. 1984 - Nike signs Michael Jordan, launching Air Jordan series. 1987 - Nike drops ad for new Air Max shoes set to The Beatles' "Revolution," making it the first ad to use the band's music. 1988 - First "Just Do It" campaign launches with ad featuring 80-year-old running icon Walter Stack running across the Golden Gate Bridge. 1989 - "Bo Knows" ad campaign drops featuring baseball and football star Bo Jackson. 1990 - First Niketown store opens in Portland, Oregon. 1991 - Activist Jeff Ballinger publishes report exposing low wages and poor working conditions among Indonesian Nike factories. Nike responds by instating its first factory codes of conduct. 1996 - Nike signs Tiger Woods. 1998 - In the face of widespread protest, Nike raises the minimum age of its workers, increases monitoring, and adopts U.S. OSHA clean-air standards in overseas factories. 1999 - Nike co-founder Bill Bowerman dies at 88. 2002 - Nike acquires surf-apparel company Hurley. 2003 - Nike signs Lebron James and Kobe Bryant. 2004 - Nike acquires Converse for $309 million. 2004 - Phil Knight steps down as CEO and president of Nike, but retains chairman role as William D. Perez becomes the company's new CEO. 2008 - Nike signs Derek Jeter. 2012 - Nike becomes official supplier for NFL apparel. 2015 - Nike becomes official supplier for NBA apparel. 2018 - Nike unveils ad campaign featuring athlete and political activist Colin Kaepernick, garnering a mix of public approval and backlash. Controversy Sweatshops Nike has faced a long history of controversy over its labor practices. The company was founded on a principle of finding cheaper labor to produce same-quality goods and followed this unfailingly, till it finally came back to bite them. Nike's factories were initially in Japan, but then moved to cheaper labor in South Korea, China, and Taiwan. As the economies of these countries developed, Nike again shifted, moving away from labor in South Korea and Taiwan to focus on China, Indonesia, and Vietnam. Not much was noted of this until activist Jeff Ballinger published a report in 1991, documenting the poor working conditions of Nike's operations across Indonesia. This was followed with a popular article in Harper's Magazine, detailing the life of an Indonesian Nike employee who worked for 14 cents an hour. Outrage fermented among the public, with protests against the shoe ware giant at the 1992 Olympics and an increased media scrutiny on the plight of sweatshop workers. This came at the same time the company sought to expand its Niketown retail stores, resulting in mass protests around the planned expansions. With protests around college campuses, calls for boycotting the company, and pressure put on its stars like Michael Jordan to denounce the brand, Nike made a concerted effort in 1998 to improve the labor conditions of its factories. It included raising the minimum age among workers, increasing the monitoring of factory conditions, and enforcing U.S. standards for clean air. This was followed by Nike's creation of the Fair Labor Association in 1999, and audit of roughly 600 factories between 2002-2004, and the public disclosure of all of its factory locations in 2005. While reports of abuse at the Nike factories still persist, many human rights activists have acknowledged Nike's efforts to have minimized the worst problems at these factories, and the public outcry today over the company's labor conditions is a shadow of what it once was. Colin Kaepernick On Labor Day of 2018, Nike made a huge splash, tweeting a photo of NFL player Colin Kaepernick as the new face of its brand. The 49ers quarterback had become a lightning rod for controversy after being the first football player to take a knee during the national anthem in protest of police brutality toward black Americans. He received a mix of support and backlash from the public, with some calling him a hero and others criticizing his actions as "un-American." This controversy only intensified with Donald Trump making criticism of the protest Kaepernick started a central talking point in his campaign and, later, presidency. 49ers management consequently did not renew Kaepernick's contract and no other NFL team signed him. Fittingly, the ad overlay of the black-and-white photo of Kaepernick's face with the text, "Believe in something. Even if it means sacrificing everything," and the classic Nike slogan, "Just Do It." below. The ad garnered a predictable mix of support and controversy. Some, seeing Nike's endorsement of Kaepernick as a betrayal of patriotic values, chose to quite publicly announce their boycott of Nike by posting videos of themselves burning their Nike shoes. This proved largely ineffectual, with most people mocking Nike boycotters on social media, and the company's stock soaring, increasing by over $6 billion less than a month after the campaign began. Some on the left also took issue with the ad, citing it as an example of "commodity activism," whereby corporations co-opt a social movement for profits. How Green is Nike? While Nike's taken strides to increase its eco-friendliness, joining the Sustainable Apparel Commission and implementing a number of reusable materials in its clothing, it still has a way to go. The primary environmental criticism following Nike has been its refusal to eliminate hazardous materials from its supply chain. As pointed out by Greenpeace, this affects everything from factory workers to waterways to consumers. The hazardous chemicals pollute the environment, threaten to poison those who work with them, and allow a potential health risk to persist among users of Nike's apparel. Nike has claimed to be working toward elimination of these toxic chemicals. While these claims have been met with dubiousness over the past couple years, in 2018, Nike showed some serious signs of growth, expanding its PFC-free portfolio to 93% of products. What's Happening in 2019? Over 2019, most news on Nike has revolved around its political stances. Days before the Fourth of July, the company canceled the release of a sneaker bearing the 13-star American flag of Betsy Ross on the shoe's heel. Reportedly, this decision came after Colin Kaepernick privately voiced his criticisms of the design to Nike, seeing as the 13-star flag represented America during a time of slavery and has been used in tandem with the Confederate flag by hate groups including the Ku Klux Klan. The choice to drop the shoe nevertheless sparked a media firestorm with conservative pundits and social media commentators criticizing Nike for its lack of patriotism. Outside of the political sphere, Nike has also unveiled plans for a subscription service for kids. This comes at a time when apparel companies are increasingly looking toward subscription-based models to attract customers. It'll be Nike's first test of this and opens the door for kids 2 through 10 to have varying access across a selection of roughly 100 shoes for a monthly fee. Nike Stock As with many companies in 2019, Nike's fate has been closely tied to the ongoing speculation over tariffs in the current China-U.S. trade war. Given that Nike manufactures roughly 27% of its apparel in China, the prospect of increasing tariffs poses a real problem to its supply chain. The company has been proactive in dealing with this issue, slowly shifting more of its operations from China into Vietnam. Regardless of these looming threats, Nike has weathered 2019 relatively unscathed, even landing among the top 15 analyst picks among the Dow. Nike (NKE) - Get Free Report closed at $81.03 a share, down 2.75%, on Aug. 14. It's never too late - or too early - to plan and invest for the retirement you deserve. Get more information and a free trial subscription toTheStreet's Retirement Dailyto learn more about saving for and living in retirement. Got questions about money, retirement and/or investments? EmailRobert.Powell@TheStreet.com.
- Fujita Nikon Zeiss Voigtlander By the late 1960's this price war had become fratricidal as wages in Japan had risen, resulting in a generalised fall in profits. In 1971 Nixon broke the gold standard, devaluing the US dollar and the price of German camera imports rose rapidly. German camera manufacturing collapsed. The end of the West German Zeiss and Voigtlander operations set the scene for a reduction in quality. It was no longer necessary to make things at a level of fit and finish comparable to the West Germans. In the 1970's the Japanese camera companies further reduced production costs by ending precision mechanical construction and substituting cheaper electronic designs and fully automated production line techniques
- In May 2004, two years after Knight bought Vinton, his son Matthew, aged 34 years, traveled to El Salvador to film a fund-raising video for Christian Children of the World, a Portland nonprofit organization. However, while scuba diving in Lake Ilopango, near San Salvador, he died from a heart attack 46 m underwater due to an undetected congenital heart defect. Knight and Travis traveled to El Salvador to return Matthew's body to the US. Laika Studio's 2005 short film Moongirl was dedicated to Matthew's memory. Knight resigned as Nike CEO on November 18, 2004, several months after Matthew's funeral but retained the position of chairman of the board. Knight's replacement was William Perez, former CEO of S.C. Johnson & Son, Inc., who was eventually replaced by Mark Parker in 2006. In 2011, the Matthew Knight Arena at the University of Oregon was named in his honor.[
- Serena Williams, Angela Davis, Dina Asher-Smith, Ada Hegerberg, Deyna Castellanos, Simone Manuel, Bebe Vio, Nafi Thiam, Scout Bassett, Ibtihaj Muhammad, Sabrina Ionescu, Shelly-Ann Fraser-Pryce, and Shalane Flanagan. List of Nike sponsorships – Wikipedia
- Nike’s Acquisition Strategy The company has purchased and sold several sports apparel and footwear companies throughout its history. In 1988, the company purchased the high-end shoe company Cole Haan, followed by the purchase of Bauer Hockey in 1994. From Hurley International's founder Bob Hurley, Nike purchased the surfwear company in 2002. Converse was acquired by Nike for $309 million in 2003. During 2004 and 2007, the organization acquired Starter and football jersey maker Umbro. As Nike refocused its business interests in the 2000s, it began divesting some of its subsidiaries. In 2007, it sold Starter and in 2008, Bauer Hockey, followed by Umbro and Cole Haan. As of 2020, Nike owns only one subsidiary: Converse Inc. In February 2021, Nike restarted its acquisitions in light of the new strategy, lead by CEO John Donahoe. The company acquired Datalogue, a New York-based company focused on digital distribution and machine learning technology. The ultimate goal is to further develop Nike’s e-commerce capabilities and fuel revenue growth utilizing heavily on this segment. As a result of this move, digital sales for the fiscal year rose nearly 50% to $5.5 billion, softening the blow of COVID-19.
- – Emerging markets hold a significant portion of Nike’s revenue. In fiscal 2022, Nike’s footwear revenue in the Asia Pacific and Latin America regions amounted to approximately 4.11 billion U.S. dollars. The company’s growth in China and India, along with a resurgence in regions like Latin America, indicate that emerging markets will continue to be a major contributor to Nike’s future success. Nike holds a 38.23% total market share. The 2022 Nike market share showcases its ongoing influence in the industry, despite increasing revenue for competitors. The company spent $3.1 billion on marketing and promotion. With a market capitalization of $197.8 billion, Nike is among the 50 most valuable companies in the world. Nike stats show that it’s still the most popular sports brand in the world. In February 2022, Nike.com had over 98 million visits. The United States had the highest number of visitors to Nike’s official website. It is widely known that Nike specifically targets the U.S. online audience. American visitors accounted for 34% of total visitors, with the Republic of Korea in second place at 11%, and the U.K. in third at 5%. In 2022, Nike’s global revenue amounted to about $46.71 billion U.S. dollars, which is an increase of over two billion compared to the previous financial year. In its latest earnings report, Nike reported a 17% increase in revenue. This marks the company’s best performance in 42 quarters, with the exception of a 95% growth in the fourth quarter of 2021 as retail stores reopened after pandemic lockdowns. “Nike’s results this quarter are a testament to our deep connection with consumers,” said John Donahoe, President and CEO of Nike Inc., in a statement. “Our growth was broad-based and was driven by our expanding digital leadership and brand strength. These results give us confidence in delivering the year as our competitive advantages continue to fuel our momentum.” Number of Nike's U.S. retail stores 2023 | Statista History of Nike: Timeline and Facts – TheStreet Shoe Dog by Phil Knight | Instaread Nike History Timeline (businessinsider.com) NIKE timeline | Timetoast timelines
- Year Revenue 2022 $46,710 2021 $44,538 2020 $37,403 2019 $39,117 2018 $36,397 2017 $34,350 2016 $32,376 2015 $30,601 2014 $27,799 2013 $25,313 2012 $23,331 2011 $20,117 2010 $19,014 2009 $19,176
- Strategy Study: How Nike Runs The Sportswear Game (cascade.app)
- Nike has faced a long history of controversy over its labor practices. The company was founded on a principle of finding cheaper labor to produce same-quality goods and followed this unfailingly, till it finally came back to bite them. Nike's factories were initially in Japan, but then moved to cheaper labor in South Korea, China, and Taiwan. As the economies of these countries developed, Nike again shifted, moving away from labor in South Korea and Taiwan to focus on China, Indonesia, and Vietnam. Not much was noted of this until activist Jeff Ballinger published a report in 1991, documenting the poor working conditions of Nike's operations across Indonesia. This was followed with a popular article in Harper's Magazine, detailing the life of an Indonesian Nike employee who worked for 14 cents an hour. Outrage fermented among the public, with protests against the shoe ware giant at the 1992 Olympics and an increased media scrutiny on the plight of sweatshop workers. This came at the same time the company sought to expand its Nike town retail stores, resulting in mass protests around the planned expansions. With protests around college campuses, calls for boycotting the company, and pressure put on its stars like Michael Jordan to denounce the brand, Nike made a concerted effort in 1998 to improve the labor conditions of its factories. It included raising the minimum age among workers, increasing the monitoring of factory conditions, and enforcing U.S. standards for clean air. This was followed by Nike's creation of the Fair Labor Association in 1999, and audit of roughly 600 factories between 2002-2004, and the public disclosure of all of its factory locations in 2005.
- The sportswear company has a long-standing relationship with Tiger Woods dating back to his first contract with the brand in 1996. And, over time, it has become abundantly clear that Nike would be turning a blind eye to his indiscretions. In 2009, the golfer's wholesome image took a battering but the sportswear giant seemed unfazed. Woods was first involved in a car crash before also publicly admitting that he had been unfaithful to then-wife Elin Nordegren in a series of affairs. It was feared that the events may have impacted his marketability, but Nike stood by their athlete. 'He is the best golfer in the world and one of the greatest athletes of his era,' a Nike spokeswoman said in a statement at the time. 'We look forward to his return to golf. He and his family have Nike's full support.' Despite various other personal turbulence in recent years, the brand continues to collaborate with the now 47-year-old.
- On Labor Day of 2018, Nike made a huge splash, tweeting a photo of NFL player Colin Kaepernick as the new face of its brand. The 49ers quarterback had become a lightning rod for controversy after being the first football player to take a knee during the national anthem in protest of police brutality toward black Americans. He received a mix of support and backlash from the public, with some calling him a hero and others criticizing his actions as "un-American." This controversy only intensified with Donald Trump making criticism of the protest Kaepernick started a central talking point in his campaign and, later, presidency. 49ers management consequently did not renew Kaepernick's contract and no other NFL team signed him. Fittingly, the ad overlay of the black-and-white photo of Kaepernick's face with the text, "Believe in something. Even if it means sacrificing everything," and the classic Nike slogan, "Just Do It." below. The ad garnered a predictable mix of support and controversy. Some, seeing Nike's endorsement of Kaepernick as a betrayal of patriotic values, chose to quite publicly announce their boycott of Nike by posting videos of themselves burning their Nike shoes. This proved largely ineffectual, with most people mocking Nike boycotters on social media, and the company's stock soaring, increasing by over $6 billion less than a month after the campaign began. Some on the left also took issue with the ad, citing it as an example of "commodity activism," whereby corporations co-opt a social movement for profits.
- 'Nike has chosen not to release the Air Max 1 Quick Strike Fourth of July as it featured the old version of the American flag,' a Nike spokeswoman told the outlet. The Betsy Ross flag, which features 13 white stars in a circle representing the 13 original US colonies, was created during the American Revolution. It was a time when lawmakers advocated for the expansion of slavery and declared that those born into it were slaves for life. The flag has more recently been appropriated by some extremist groups which are opposed to the country's increasing diversity.
- Nike sparked backlash earlier this week after partnering with transgender influencer Dylan Mulvaney on its latest sports bra campaign - but it is not the first time the brand has been embroiled in scandal. The sportswear giant has been plagued with a series of controversies over the years after suffering multiple missteps. Recent points of contention include sneakers emblazoned with 'racist' flags, lawsuits over gender discrimination and accusations of forced labor. Here, FEMAIL has laid bare the worst scandals to haunt Nike to date.
- The sportswear giant was forced to severe its ties with Kyrie Irving to avoid being engulfed in anti-Semitic controversy NBA star Kyrie Irving signed with Nike in 2011 and had a signature line of shoes from 2014 in an annual endorsement deal believed to be worth at least $11 million. But, in 2022, the sportswear giant was forced to part ways with the basketball pro. Irving faced criticism after sharing a link to the Amazon page for the 2018 film Hebrews to Negroes: Wake Up Black America, which contained anti-Semitic tropes. Nike started by suspending its partnership with the athlete after he initially refused to apologize. Eventually, the company decided to part ways with Irving for good. In a statement at the time, Nike said it was 'deeply saddened and disappointed by the situation.' The brand also revealed that it would not launch the Kyrie 8s - the shoe designed by the player and company - which were set to be released late last year. Irving offered a belated apology following his suspension, but only after several contentious exchanges with the media including one instance, in which he told reporters: 'I'm not going to stand down on anything I believe in.'