Nike, Inc. is a major American supplier of athletic shoes, apparel, and sports equipment. Founded in 1964 as Blue Ribbon Sports, it rebranded as Nike, Inc. in 1971. The company is named after the Greek goddess of victory, Nike. Nike sponsors high-profile athletes and teams worldwide, with iconic trademarks like 'Just Do It' and the Swoosh logo. As of 2020, Nike employed 76,700 people globally and was valued at over $32 billion, ranking as the most valuable brand in sports businesses.
In 1963, Phil Knight, shortly after graduating from Stanford University, became the sales agent for Onitsuka Tiger shoes in the US. This marked the beginning of the relationship between Nike (originally Blue Ribbon Sports) and Onitsuka Tiger, which later faced legal disputes.
Nike was founded in 1964, originally known as Blue Ribbon Sports. It later rebranded to Nike in 1971 and became one of the largest sports brands in the world.
Nike, Inc. was founded on January 25, 1964, as 'Blue Ribbon Sports' by Bill Bowerman and Phil Knight. It officially became Nike, Inc. on May 30, 1971.
In 1965, Nike had enough revenue to hire their first full-time employee, marking a significant milestone in the company's growth.
In 1966, Blue Ribbon Sports opened its first retail store at 3107 Pico Boulevard in Santa Monica, California, marking a significant milestone in the company's expansion.
Due to increasing sales, Blue Ribbon Sports expanded its retail and distribution operations to the East Coast, specifically in Wellesley, Massachusetts, in 1967.
In 1970, Bill Bowerman creates the first waffle sole by experimenting with pouring rubber into his wife's waffle iron. This innovation revolutionized running shoes.
Phil Knight, the founder of Nike, aimed to build a company focused on meeting the needs of athletes. His vision included creating innovative products tailored to enhance athletic performance.
Nike has successfully utilized meaningful graphics in its branding over the years, setting a benchmark for effective logo design and brand communication.
On May 30, 1971, 'Blue Ribbon Sports' officially became Nike, Inc., taking its name from Nike, the Greek goddess of victory.
Tension between BRS and Onitsuka Tiger increased in 1971 as the latter attempted a takeover of BRS. In 1972, the relationship between BRS and Onitsuka Tiger came to an end, and BRS prepared to launch its own line of footwear.
Nike launches the Blazer basketball shoe, which gains popularity after being worn by NBA player George Gervin, also known as 'The Iceman'. This marks Nike's entry into the consciousness of basketball fans.
Nike releases the Waffle Racer, featuring a sole inspired by Bill Bowerman's original waffle-like creation. It becomes the best-selling sneaker on the market, gaining immense popularity.
In 1976, the company hired John Brown and Partners, based in Seattle, as its first advertising agency. This marked a significant step in Nike's marketing and branding strategy.
In 1977, Nike executive Rob Strasser penned a list of 10 principles that captured the irreverence and competitiveness of early Nike employees. These principles reflected the company's us-against-the-world spirit and laid the foundation for its future success.
Nike releases the Tailwind, the first running shoe to include air pockets in its outsole, revolutionizing sports shoe history. It marks a significant advancement in athletic footwear.
Nike introduced the 'Air' technology with the launch of the Air Tailwind running shoe in 1979.
By 1980, Nike had attained a 50% market share in the U.S. athletic shoe market, and the company went public in December of that year, marking a major milestone in its corporate history.
Nike introduces the Air Force 1, the first basketball shoe to utilize air in the sole. It has since been reissued in various versions, becoming iconic in the world of sports footwear.
In 1983, Nike introduced the Pegasus, marking the first edition of a successful line of running shoes that remains popular to this day.
In 1984, Phil Knight signed NBA rookie Michael Jordan to a lucrative endorsement deal, which would go on to revolutionize sports marketing and elevate Nike's status as an international powerhouse.
In April 1985, Air Jordans were released to the public after being first introduced in 1984 exclusively for Michael Jordan.
Nike SB, a specialized line of footwear and apparel designed for skateboarding, was launched by Nike in 1985. It has since become popular among skateboarders and sneaker enthusiasts.
By 1985, Nike experienced a significant drop in running shoe revenues, falling from $240 million to $120 million. This decline highlighted the challenges the company faced in adapting to changing market trends.
Nike releases the Air Trainer 1, designed for a range of activities to reduce the risk of injury from unsuitable footwear. It gains popularity among tennis players, marking Nike's entry into the tennis market.
The Air Max sneaker was first released by Nike in 1987. It featured a visible air-cushioning unit and became a revolutionary design in the athletic footwear industry.
In 1987, Reebok's sales exceeded those of Nike, signaling a shift in market leadership within the athletic shoe industry. This competition intensified the rivalry between the two brands.
In 1988, Nike introduced its iconic slogan 'Just Do It,' which became synonymous with the brand's ethos of determination and empowerment. This slogan played a key role in solidifying Nike's position in the market.
Wieden+Kennedy, Nike's primary ad agency, created the first 'brand ad' for Nike, called 'There is no finish line', in which no Nike product was shown. In 1988, the now-famous slogan 'Just Do It' was launched, becoming one of the top five ad slogans of the 20th century.
The "Bo Knows" ad campaign, which featured baseball and football star Bo Jackson, was launched in 1989.
In 1990, Nike moved into its eight-building World Headquarters campus in Beaverton, Oregon, signifying a significant expansion and consolidation of its operations.
Nike released the Air Huarache in 1991, which gained immense popularity among runners and transitioned into mainstream casual wear. The design, featuring neoprene inspired by wetsuits, contributed to its widespread appeal.
During the 1992 Olympics, members of the United States 'Dream Team' insisted on wearing Nike shoes while receiving their gold medals. This event underscored Nike's strong presence and influence in the world of sports and athletics.
Since 1993, Nike has worked on its Reuse-A-Shoe program. This program is Nike's longest-running program that benefits both the environment and the community by collecting old athletic shoes of any type in order to process and recycle them.
Nike enters the ice hockey market by acquiring Canstar, the parent company of Bauer Hockey, and begins producing all hockey equipment.
Nike signs long-term partnerships with the Brazilian and United States soccer teams, expanding its presence in the soccer market.
Nike causes controversy with its advertising campaign during the Summer Olympics in Atlanta, featuring the slogan, 'You Don't Win Silver — You Lose Gold,' which draws harsh criticism from many sources.
Nike unveiled the 'Nike Air Max 97,' which featured full-length visible air cushioning, marking a significant advancement in footwear technology.
In 1998, Phil Knight committed Nike to standards for its affiliated manufacturing facilities, covering aspects such as minimum wage, air quality, education programs, and factory monitoring. This move aimed to enhance transparency of Nike's corporate social responsibility practices.
On November 18, 1999, Nike officially reached a milestone by becoming a 10 billion dollar company.
Bill Bowerman, the co-founder of Nike, passes away at the age of 88 on December 24th.
Since the 2000–01 season, Nike has been the official ball supplier for the Premier League, solidifying its position in the world of football.
A BBC documentary uncovered occurrences of child labor and poor working conditions in a Cambodian factory used by Nike, leading to further criticism and actions to curb the practice.
Nike becomes the apparel sponsor of Manchester United in 2002, holding the sponsorship until 2010.
Nike acquires once-bankrupt rival Converse for $305 million on July 9, 2003.
In 2004, Phil Knight stepped down as the CEO and President of Nike, with William D. Perez taking over as CEO. However, Knight continued to serve as the chairman of Nike.
Nike became the official kit sponsor for the Indian cricket team from 2005 to 2020.
On June 27, 2005, Nike Skateboarding issued an apology to Dischord Records and Minor Threat for appropriating imagery and text from the band's album cover, leading to a settlement between Nike and Minor Threat.
William Perez resigns from Nike due to misalignment with Phil Knight on the company's long-term growth strategy.
Nike announces annual revenue of $15 billion for the fiscal year 2006, ending on May 31.
In 2007, Nike made a strategic move by entering the cricket market with a 5-year sponsorship deal for the Indian cricket team, demonstrating its commitment to expanding into new sports markets.
Nike introduces shoes featuring new Flywire and Lunarlite Foam materials. Flywire is a new technology made up of thin wires of vectran fibers, which are 5 times stronger than steel and never lose strength. Lunar Foam is a material developed by NASA that gives the shoe excellent shock absorption and a great feel with minimal weight.
In 2009, Nike introduced Lunarlon, a lightweight foam midsole inspired by space travel, offering enhanced stability, impact absorption, and spring back for runners. The Lunar Racer 1 was among the first shoes to feature this technology.
In 2010, Nike secured an endorsement agreement with basketball star LeBron James, leading to the launch of the LeBron James signature shoe line.
In July 2011, environmental group Greenpeace published a report regarding water pollution impacting the Yangtze River emitted from a major textile factory operated by Nike supplier Youngor Group.
In 2012, Nike partnered with the (PRODUCT)RED campaign to prevent the transmission of HIV from mother to child.
Nike announced it suspended its contract with South African athlete Oscar Pistorius, due to him being charged with premeditated murder.
On December 19, 2013, Nike's quarterly profit rose due to a 13 percent increase in global orders for merchandise, signaling its strong financial performance and market demand.
One of the biggest strikes in mainland China took place at the Yue Yuen Industrial Holdings Dongguan shoe factory, producing for Nike, due to underpayment of employees and poor working conditions.
Nike consolidated its position in basketball in 2015 when it signed an 8-year deal with the NBA, taking over from the league's previous uniform sponsor, Adidas.
Nike, with $30 billion in annual revenue, has become the leading athletic-apparel brand globally. However, its journey to dominance was not easy.
A study reflected that Nike was the 3rd most relevant brand for Gen-Z in China in 2016.
Phil Knight announced in mid-2015 that he would step down as chairman of Nike in 2016. He officially stepped down from all duties with the company on June 30, 2016, marking a major leadership transition.
Nike signed a deal with the NBA requiring all franchise team members to wear jerseys and shorts with the Swoosh logo, beginning with the 2017/18 season.
The Paradise Papers revealed that Nike used offshore companies to avoid taxes, detailing how it transferred ownership of its Swoosh trademark to a Bermudan subsidiary to boost after-tax profits.
In 2018, Nike spent $11.5 billion, nearly a third of its sales, on marketing and endorsement contracts.
A pair of Nike Inc. running shoes, known as the 'Moon Shoes' and designed by Nike co-founder Bill Bowerman, sold for $437,500 at a Sotheby's auction on July 23, 2019.
In October 2019, John Donahoe was announced as the next CEO of Nike, and he succeeded Parker on January 13, 2020, marking a significant change in the company's top leadership.
On January 31, 2020, World Athletics issued new guidelines concerning shoes in response to criticisms about the Nike Vaporfly running shoes, which were accused of providing athletes with an unfair advantage. The guidelines included restrictions on sole thickness and embedded plates, as well as a requirement for the shoes to be available for purchase by any athlete for a specific period before use in competition.
Nike reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 30 June 2020 at 317 Kt (+12/+4% y-o-y) and plans to reduce emissions 65% by 2030 from a 2015 base year.
On March 29, 2021, American rapper Lil Nas X partnered with an art collective to release a modified pair of Nike Air Max 97s called Satan Shoes, which included controversial elements such as a Bible verse, human blood, and a limited production of 666 pairs. Nike distanced themselves from the shoes and filed a lawsuit to stop their distribution.
Michael Jordan and Jordan Brand have announced the latest grantees in their fight against systemic racism, demonstrating their commitment to addressing this issue.
The Nike MLB City Connect Series aims to explore the connection between baseball, community, and culture, emphasizing the bond among these elements.
Nike's Vice President of Social & Community Impact discusses the initiative of creating communities of play, emphasizing the company's commitment to making a positive impact in the communities where they operate.
Nike Air Max 95 Global Access is introduced, offering a new design and style for customers worldwide.
After acquiring RTFKT, Nike launched the Dunk Genesis Cryptokicks collection, featuring over 20,000 NFTs, with one design by Takashi Murakami selling for $134,000 in April 2022.
In January 2023, a study concluded that Nike was the most popular sportswear brand in the US.
In March 2023, a survey reported that millennials with health and wellness concerns ranked Nike as their preferred brand for purchases.
In July 2023, a study found that Americans consider Nike as one of the Most Inclusive Brands.
On February 16, 2024, Nike announced plans to reduce its workforce by 2% in an effort to cut costs and reinvest in areas like health.
On February 21, 2024, Nike Inc. Cl B stock outperformed the market, showing an increase in value.
On February 22, 2024, Nike Inc. Cl B stock underperformed the market, experiencing a decline in value.
Elhadji Mare provides a buyer's guide for Nike Kobe shoes, offering insights for potential buyers.
Elhadji Mare discusses the best Nike shoes available on StockX platform.