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's first full-time employee, Jeff Johnson, was hired in 1965. Johnson was brought on board by Phil Knight and Bill Bowerman to help with the growing demand for Onitsuka Tiger shoes in the United States. At the time, the company was still known as Blue Ribbon Sports. Johnson played a significant role in helping to organize and manage the company's operations, particularly in sales and marketing. He is often credited with being a key figure in transforming Blue Ribbon Sports from a small, shoe-importing business into a more structured organization. Johnson was also involved in the development of Nike's early marketing strategies, which eventually helped build the foundation for the global brand Nike would become.
Nike's first retail store, originally under the name Blue Ribbon Sports, opened in 1966 in Santa Monica, California. This marked a significant milestone for the company as it transitioned from being an importer of Onitsuka Tiger shoes to a more formalized business with its own storefront. The store was designed to sell the Onitsuka Tiger shoes directly to customers, a crucial step in growing the business and building a local presence. The opening of the retail store helped Blue Ribbon Sports establish a direct relationship with consumers, allowing them to better understand customer needs and preferences. This move was also an early step toward the eventual development of Nike as a global brand, laying the groundwork for the company's later success in both retail and product innovation. The Santa Monica store helped set the stage for Nike’s expansion into its own branded products in the years that followed.
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.
On May 30, 1971, Blue Ribbon Sports officially became Nike, Inc., named after the Greek goddess of victory, Nike (Νίκη).
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.
In 1972, Romanian tennis player Ilie Năstase became Nike's first professional athlete endorser, marking the beginning of the company's extensive history of sponsoring top athletes across various sports.
In 1972, the first version of the Waffle Racer, nicknamed the 'Moon Shoe', is released with the first Swoosh logo. Additionally, the Nike Cortez is released during the Mexico Olympics, marking a significant milestone in Nike's track shoe development.
In 1973, distance runner Steve Prefontaine became the first track endorser for Nike. He was a significant figure for the company, especially due to his close relationship with co-founder Bill Bowerman and the naming of a building in his honor at Nike's corporate headquarters.
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.
In 1982, Nike aired its first three national television ads during the broadcast of the New York Marathon, marking a significant milestone in the company's advertising 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.
Nike releases the Internationalist, initially designed for long-distance runners and gaining recognition as one of the best long-distance running shoes. It was first showcased at the New York City Marathon.
The Air Pegasus is introduced as an accessible running shoe suitable for all runners, and its line continues with regular updates to this day. It has become a staple in Nike's running shoe offerings.
In 1984, Nike's profits exceeded the $1 billion mark, showcasing the company's remarkable financial success and market dominance.
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.
After his college career, Michael Jordan went on to establish the highly successful Air Jordan athletic shoe line, which became iconic in the world of sports and fashion.
In April 1985, Air Jordans were released to the public after being first introduced in 1984 exclusively for Michael Jordan.
The NBA banned Jordan's shoes and issued fines, but Nike embraced the controversy, paying the fines and creating ad campaigns around the ban. Within two months of the shoe's release, Nike sold $70 million worth of Air Jordans.
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.
The Air Jordan 1, featuring the iconic 'Jumpman' logo, is initially produced exclusively for Michael Jordan. Its prototype, the Air Ship, was banned by the NBA for not meeting uniform regulations, leading to the release of the iconic Jordan 1 to the general public a year later.
Nike introduces the Dunk basketball shoe, which has since been released in various colorways and materials, including limited editions sought after by collectors. The model is available in low, mid, and high top versions.
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.
In 1987, Nike faced criticism for using the Beatles song 'Revolution' in a commercial without the approval of Apple Records, leading to a legal dispute and payment of US$250,000 to Capitol Records Inc.
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, Nike significantly raised its marketing budget from $8 million to $48 million in order to convince customers of the superiority of its shoes. A substantial portion of this budget was allocated to paying celebrities, including Michael Jordan, millions of dollars to endorse and promote its products.
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.
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 the 1990s, the first Nike store opened in downtown Portland, marking a significant milestone for the company.
In 1990, Nike moved into its eight-building World Headquarters campus in Beaverton, Oregon, signifying a significant expansion and consolidation of its operations.
Nike faced criticism for its use of sweatshops and child labor in the 1990s, leading to protests in major cities and documented violations of minimum wage and overtime laws in countries such as China, Vietnam, Indonesia, and Mexico.
In 1990, Nike named its first child care facility after Joe Paterno at the company's headquarters. However, the name was later removed in 2012 following the release of the Freeh Report in the wake of the Penn State sex abuse scandal.
The NikeTown store chain debuted in 1990, enhancing the shopping experience and exposing consumers to Nike's full range of products.
Nike released the Air Max 90 in 1990, a shoe designed by renowned Nike designer Tinker Hatfield. Originally named the Air Max 3, it underwent a re-release in 2000.
For more than 30 years, the Nike Explore Team Sport Research Lab has been delivering scientific insight to drive performance innovations across the Nike brand. The lab serves as the global repository for the science of human performance and potential.
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.
In 1993, Nike introduced Reuse-A-Shoe, a program aimed at collecting athletic shoes for recycling.
In 1993, Nike was awarded Advertiser of the Year at the Cannes Advertising Festival, recognizing its outstanding advertising efforts.
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.
Niketown Los Angeles opens in Beverly Hills, marking a significant expansion of Nike's retail presence.
In 1996, Nike established the Nike equipment division, signaling a strategic expansion of their product offerings.
Tiger Woods signs a sponsorship deal with Nike in 1996, marking the beginning of a long-term partnership that includes promoting Nike equipment, apparel, and releasing a signature golf clothing and footwear line.
Nike unveiled the 'Nike Air Max 97,' which featured full-length visible air cushioning, marking a significant advancement in footwear technology.
Nike spun the Jordan brand into its own division, featuring the 'Jumpman' logo. This move marked a significant milestone in the evolution of the brand.
In 1998, Nike signed several hockey stars, such as Sergei Fedorov and Jeremy Roenick, to endorsement deals to wear their new line of skates. The skates stood out due to their unique colors and design, with Fedorov gaining attention for his distinctive 'all-white' Nike skates.
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.
Nike introduced the first 'tennis shoe' style golf shoe into the market in 1998, sparking a trend of comfortable golf shoes. This innovation marked a significant development in golf shoe design and comfort.
In 1998, Nike introduced its first golf balls, expanding its product line to include golf equipment. This marked Nike's entry into the golf equipment market, further diversifying its offerings.
In the face of widespread protest, Nike raised the minimum age of its workers, increased monitoring, and adopted United States OSHA clean-air standards in overseas factories in 1998, addressing labor standards issues.
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 purchases Hurley International, an action sports clothing company, in 2002.
Nike launches NikeGO, a grassroots initiative aimed at increasing physical activity among youths aged 9–15, in 2002.
Nike becomes the apparel sponsor of Manchester United in 2002, holding the sponsorship until 2010.
Nike introduces its first line of golf clubs in 2002.
Nike faced a lawsuit from a Chinese graphics designer for its stickman ad campaign, which resulted in a legal battle and a public apology issued by Nike.
In 2002, Nike founds Nike SB to enter the fast-growing skateboarding shoe and clothing market, and it has since become one of the market leaders with a comprehensive range of products and pro athletes with signature lines.
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.
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.
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.
Nike launches the Second Coming, a group of NBA basketball players representing Nike Basketball.
Nike unveils AF25, marking 25 years of the Air Force shoe line.
Nike acquired soccer uniform maker Umbro in 2007, enhancing its presence in the soccer apparel and equipment sector.
In 2007, New England–based environmental organization Clean Air-Cool Planet ranked Nike among the top three companies (out of 56) in a survey of climate-friendly companies.
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.
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.
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.
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 2023, Nike became the presenting sponsor of Reviving Baseball in Inner Cities, which encourages youth in underserved communities to participate in baseball and softball.
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.