Nike, Inc.

Knight and Bowerman

Nike Flagship - NYC (48155560636)

Blue ribbon sports logo

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Nike swoosh logo71

Old Nike logo

Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$37.4 billion in its fiscal year 2020. As of 2020, it employed more than 75,400 people worldwide. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of "Just Do It" and the Swoosh logo.

History

Nike was originally founded as Blue Ribbon Sports (BRS) by Bill Bowerman and Phil Knight on January 25, 1964. The company officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike, the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, and subsidiaries including Brand Jordan, and Converse. Nike also owned Bauer Hockey (later renamed Nike Bauer) between 1995 and 2008, and previously owned Cole Haan and Umbro. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of "Just Do It" and the Swoosh logo.

Products

Nike produces a wide range of sports equipment. Their first products were track running shoes. They currently also make shoes, jerseys, shorts, cleats, baselayers, etc. for a wide range of sports, including track and field, baseball, ice hockey, tennis, association football (soccer), lacrosse, basketball, and cricket. Nike Air Max is a line of shoes first released by Nike, Inc. in 1988. The most recent additions to their line are the Nike 6.0, Nike NYX, and Nike SB shoes, designed for skateboarding. Nike has recently introduced cricket shoes called Air Zoom Yorker, designed to be 30% lighter than their competitors'. In 2008, Nike introduced the Air Jordan XX3, a high-performance basketball shoe designed with the environment in mind.

Marketing

Nike promotes its products by sponsorship agreements with celebrity athletes, professional teams, and college athletic teams. However, the company's marketing strategy is not solely dependent on traditional advertisements. Nike also utilizes digital marketing, social media, and innovative product design to engage with its consumers. The "Just Do It" slogan and the Swoosh logo are some of the most recognizable branding elements in the world.

Controversies

Nike has been criticized for contracting with factories (known as Nike sweatshops) in countries such as China, Vietnam, Indonesia, and Mexico. The company has been subject to much critical coverage of the often poor working conditions and exploitation of cheap overseas labor employed in the free trade zones where their goods are typically manufactured. Sources for this criticism include documentaries, often showing footage of children working in poor conditions, and advocacy groups. Nike has made efforts to improve conditions, and the company's efforts include initiatives to increase the environmental friendliness of their products and the sustainability of their supply chain.

Sponsorships

Nike pays top athletes in many sports to use their products and promote and advertise their technology and design. Nike's first professional athlete endorser was Romanian tennis player Ilie Năstase. The first track endorser was distance runner Steve Prefontaine. Prefontaine was the prized pupil of the company's co-founder, Bill Bowerman, while he coached at the University of Oregon. Today, the Steve Prefontaine Building is named in his honor at Nike's corporate headquarters.

See Also

• Air Jordan
• Nike Skateboarding
• Converse
• Umbro

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