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By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. It officially became Nike Inc. in 1971. Founded as an importer of Japanese shoes, NIKE, Inc. (Nike) has grown to be the world's largest marketer of athletic footwear, holding a g lobal market share of approximately 37 percent. Nike founder Phil Knight reached a deal with Onitsuka Company, a Japanese shoe manufacturer, to allow him to distribute their Tiger running shoes in the Western United States. In 2012, Nike carried a commercial partnership with the Asian Football Confederation. [89] Nike is planning to build a 3.2 million square foot expansion to its World Headquarters in Beaverton. Nike's shares traded at over $72 per share, and its market capitalization was valued at over US$114.5 billion in October 2018. In fact, I didn't like the way they felt on my feet. [157] In January 2013, Nike signed Rory McIlroy, the then No 1 golfer in the world to a 10-year sponsorship deal worth $250 million. The company takes its name from Nike, the Greek goddess of victory. Nike's precursor originated in 1962, a product of the imagination of Philip H. Knight, a Stanford University business graduate who had been a member of the track team … In 1967, due to increasing sales, BRS expanded retail and distribution operations on the East Coast, in Wellesley, Massachusetts. The so-called "Moon Shoes" were designed by Nike co-founder and track coach Bill Bowerman for runners participating in the 1972 Olympics trials. The company initially operated in Eugene, Oregon as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Knight's automobile. [142] Unlike previous deals, Nike's logo appear on NBA jerseys – a first for the league. [25] In 1990, Nike moved into its eight-building World Headquarters campus in Beaverton, Oregon. [36] In 2003, Nike paid US$309 million to acquire sneaker company Converse. September 02, 2015 – Nike co-founder Bill Bowerman's quest to create footwear to improve athlete performance is a driving force for Nike's ever-evolving approach to product innovation. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. [14], In its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $8,000. "[121], U.S. Vice President Mike Pence criticized Nike for "siding with the Chinese Communist Party and silencing free speech". This practice was in place for nearly 20 years. Nike promotes its products through sponsorship agreements with celebrity athletes, professional teams and college athletic teams. "[123], 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, originally known as Blue Ribbon Sports (BRS), was founded by University of Oregon track athlete Phil Knight and his coach, Bill Bowerman, on January 25, 1964. [47], In March 2020, Nike reported a 5% drop in Chinese sales associated with stores' closure due to the COVID-19 outbreak. In 2015, a new self-lacing shoe was introduced. Moreover, he established his own successful “CR7” brand of products that included shoes, underwear, and fragrances. Our editors will review what you’ve submitted and determine whether to revise the article. [28][29] He officially stepped down from all duties with the company on June 30, 2016. They stated that the people who designed it were skateboarders and Minor Threat fans themselves who created the advertisement out of respect and appreciation for the band. Vietnam Labor Watch, an activist group, has documented that factories contracted by Nike have violated minimum wage and overtime laws in Vietnam as late as 1996, although Nike claims that this practice has been stopped. [12] The company initially operated in Eugene, Oregon as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Knight's automobile. Nike originally announced it would not remove Paterno's name from the building in the wake of the Penn State sex abuse scandal. In order to refocus its business lines, Nike began divesting itself of some of its subsidiaries in the 2000s. It wasn't until May 30 th , 1971 that the company took the name Nike, which is the name of the Greek goddess of victory. He then went on to get an MBA from Stanford. [95] 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. Pebax foam can also be found in airplane insulation and is "squishier, bouncier, and lighter" than foams in typical running shoes. Featuring the new Vaporfly NEXT%", Aaliyah, Nino Brown and Freddy Kruger socks, "The Michael J. Published letter between NIKE to Philip H. Knight, According to a July 28, 1987 article written by the, Learn how and when to remove this template message, Nike Vaporfly and Tokyo 2020 Olympics Controversy, University of North Carolina at Chapel Hill, "The Swoon of the Swoosh" by Timothy Egan, It's official: Nike rhymes with spiky – and you're saying all these wrong too",, "Nike profit up but shares tumble on U.S. concerns", "Most Valuable Apparel Brand? [40] It sold Starter in 2007[38] and Bauer Hockey in 2008. Nike Air Max is a line of shoes first released by Nike, Inc. in 1987. Oct 15, 2013. Particularly popular[citation needed] were the unisex spandex Nike Tempo compression shorts[75] worn for cycling and running, which had a mesh lining, waterproofing, and, later in the 2000s, a zip pocket for a Walkman or MP3 player.[76]. Bill Bowerman made the first pair of shoes for me. There is an immutable conflict at add life and in business, a continuing battle between peace and chaos. [175], The Nike Community Ambassador Program, allows Nike employees from around the world to go out and give to their community. This could result in allergic reactions including asthmatic reactions.[131][132]. After the Freeh Report was released on July 12, 2012, Nike CEO Mark Parker announced the name Joe Paterno would be removed immediately from the child development center. [100][101][102], On November 5, 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that Nike is among the corporations that used offshore companies to avoid taxes. [129] 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. [11] In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. [18][better source needed], In 1976, the company hired John Brown and Partners, based in Seattle, as its first advertising agency. [123] Prior to these new guidelines World Athletics reviewed the Vaporfly shoes and "concluded that there is independent research that indicates that the new technology incorporated in the soles of road and spiked shoes may provide a performance advantage" and that it recommends further research to "establish the true impact of [the Vaporfly] technology. In April 2014, one of the biggest strikes in mainland China took place at the Yue Yuen Industrial Holdings Dongguan shoe factory, producing amongst others for Nike. [6] Previously in 2017, the Nike brand was valued at $29.6 billion. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight. [16][17] The Swoosh was first used by Nike on June 18, 1971, and was registered with the U.S. Patent and Trademark Office on January 22, 1974. Blow-molding is debuted in the Air Max 93. [19] The following year, the agency created the first "brand ad" for Nike, called "There is no finish line", in which no Nike product was shown. It is correctly pronounced ‘ny-kee’ … for a wide range of sports, including track and field, baseball, ice hockey, tennis, association football (soccer), lacrosse, basketball, and cricket. [64] Limited edition sneakers and prototypes with a regional early release were known as Quickstrikes,[65] and became highly desirable items[66] for teenage members of the sneakerhead subculture. Read More Nike produces sports shoes, sports wear and equipment for sports, athletes other products and range of … [citation needed] It was agency co-founder Dan Wieden who coined the now-famous slogan "Just Do It" for a 1988 Nike ad campaign,[21] which was chosen by Advertising Age as one of the top five ad slogans of the 20th century and enshrined in the Smithsonian Institution. [56], The Nike Vaporfly first came out in 2017 and their popularity, along with its performance, prompted a new series of running shoes. Called the Nike Mag, which are replicas of the shoes featured in Back to the Future Part II, it had a preliminary limited release, only available by auction with all proceeds going to the Michael J. The Trash Talk Shoe also featured a sole composed of ground-up rubber from a shoe recycling program. BRS prepared to launch its own line of footwear, which was rebranded as Nike, and would bear the Swoosh newly designed by Carolyn Davidson. Nike's first professional athlete endorser was Romanian tennis player Ilie Năstase. Similar to Takahashi, Acronym co-founder Errolson Hugh’s relationship with Nike is two-fold: as an individual and as a brand. [93] Nike is hesitant to disclose information about the contract companies it works with. The average salary at Yue Yuen is 3000 yuan per month. [137] Capitol-EMI countered by saying the lawsuit was "groundless" because Capitol had licensed the use of "Revolution" with the "active support and encouragement of Yoko Ono, a shareholder and director of Apple Records.". Nike shares (NKE) rose 0.6 percent to $78.75 in extended trading.[44]. [58] The composition of the sole contains a foamy material, Pebax, that Nike has altered and now calls it ZoomX (which can be found in other Nike products as well). This moment took place on a Sunday in early 1971, when the eventual Nike company co-founder opened up his waffle iron and dumped a glop of liquid urethane in an attempt to explore a new traction idea. [120] Nike's decision was praised by others due to the use of the flag by white nationalists,[119] but the Anti-Defamation League's Center on Extremism has declined to add the flag to its database of "hate symbols. [130], In 2008 a project through the University of North Carolina at Chapel Hill found workers were exposed to toxic isocyanates and other chemicals in footwear factories in Thailand. [122], On January 31, 2020, the World Athletics issued new guidelines concerning shoes to be used in the upcoming Tokyo 2020 Olympics. Nike was founded in 1971 by Phil Knight and Bill Bowerman. [137], That same year, Apple Records sued Nike Inc., Capitol Records Inc., EMI Records Inc. and Wieden+Kennedy for $15 million. Originally plain white or black, these socks had special shock absorbing cushioning in the sole[78] plus a moisture wicking upper weave. Today, the Steve Prefontaine Building is named in his honor at Nike's corporate headquarters. [156], Nike has sponsored Tiger Woods for much of his career, and remained on his side amid the controversies that shaped the golfer's career. [107] According to Charles Robinson of Yahoo! Founded in 1964, the company has its headquarters in Beaverton, Oregon. Fox Foundation does raffle with Nike to raise awareness for Parkinson's disease", "Nike finally releases plus-size clothing line for women", "Nike shoes race to $437,500 world record auction price for sneakers", "Appellate court rejects Beaverton annexation | The Oregonian Extra", "A first look at Nike's $380M-plus HQ expansion (Renderings)", "Nike is facing a new wave of anti-sweatshop protests - Business & Human Rights Resource Centre", "Programmes | Panorama | Archive | Gap and Nike: No Sweat? [43], On December 19, 2013, Nike's quarterly profit rose due to a 13 percent increase in global orders for merchandise since April of that year. [141], In June 2015, Nike signed an 8-year deal with the NBA to become the official uniform supplier for the league, beginning with the 2017–18 season. The company was renamed Nike, Inc., in 1978 and went public two years later. Nike has only made one statue of its sponsored athletes and it is of Steve Prefontaine. Nike has been criticized for contracting with factories (known as Nike sweatshops) in countries such as China, Vietnam, Indonesia and Mexico. [58] In the middle of the ZoomX foam there is a full-length carbon fiber plate "designed to generate extra spring in every step". Future orders of shoes or clothes for delivery between December and April, rose to $10.4 billion. [58] At the time of this writing Nike had just released its newest product from the Vaporfly line, the Nike ZoomX Vaporfly NEXT%, which was marketed as "the fastest shoe we’ve ever made" using Nike's "two most innovative technologies, Nike ZoomX foam and VaporWeave material". [139] The dispute was eventually settled out of court between Nike and Minor Threat. At the same time, the company's online sales grew by 36% during Q1 of 2020. A July 2011 Associated Press article stated that employees at the company's plants in Indonesia reported constant abuse from supervisors. [54] The Air Zoom Vomero running shoe, introduced in 2006 and currently in its 11th generation, featured a combination of groundbreaking innovations including a full-length air cushioned sole,[55] an external heel counter, a crashpad in the heel for shock absorption, and Fit Frame technology for a stable fit. [172], More recently, the corporation donated $13.5 million towards the renovation and expansion of Hayward Field. [5] In 2020 the brand alone was valued in excess of $32 billion, making it the most valuable brand among sports businesses. On June 27, Nike Skateboarding's website issued an apology to Dischord, Minor Threat, and fans of both and announced that they have tried to remove and dispose of all flyers. [143], Nike sponsors top athletes in many sports to use their products and promote and advertise their technology and design. Nike has been the sponsor for many top ranked tennis players. Nike Just Does It Again", "Fortune 500 Companies 2018: Who Made the List", "How Nike almost ended up with a very different name", "Nike sells Bauer Hockey for $200 Million", "11 Things Hardly Anyone Knows About Nike", "11 Things Hardly Anyone Knows About Nike. Lebron James was given the Slogan "We are All Witnesses" when he signed with Nike. The story of Nike begins with the story of Blue Ribbon Sports back in 1964. [87], On July 23, 2019 a pair of Nike Inc. running shoes sold for $437,500 at a Sotheby's auction. In August 2014, Nike announced that they will not renew their kit supply deal with Manchester United after the 2014–15 season, citing rising costs. [115] In the following three months, Nike reported a rise in sales. The first was for "The Morning After," a satirical look at what a runner might face on the morning of January 1, 2000, if every dire prediction about the Y2K problem came to fruition. [171] New unique combinations are issued before every game day. The components of the shoes are not the only thing that had major changes; starting April 30, 2020, "any shoe must have been available for purchase by any athlete on the open retail market (online or in store) for a period of four months before it can be used in competition". Additional product lines were introduced later, such as Air Huarache, which debuted in 1992. Its first acquisition was the upscale footwear company Cole Haan in 1988,[34] followed by the purchase of Bauer Hockey in 1994. [35] In 2002, Nike bought surf apparel company Hurley International from founder Bob Hurley. Nike discontinued airing ads featuring "Revolution" in March 1988. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree.... …contract from the sportswear company Nike. Carolyn Davidson, a student at Portland State University during the time Knight taught there, created the logo, attempting to convey motion in its design. According to Robinson, Kaepernick signed a "star" contract that puts him level with a "top-end NFL player" worth millions per year plus royalties. Sports, Kaepernick and Nike agreed to a new contract despite the fact Kaepernick has been with the company since 2011 and said that "interest from other shoe companies" played a part in the new agreement. [144] The first track endorser was distance runner Steve Prefontaine. Ronaldo’s immense marketability was at the centre of a legal issue that arose in June 2017. Find Nike brand history in detail in the brand story section. [91] Most of the factories are located in Asia, including Indonesia, China, Taiwan, India,[92] Thailand, Vietnam, Pakistan, Philippines, and Malaysia. Robinson said the contract is a "wide endorsement" where Kaepernick will have his own branded line including shoes, shirts, jerseys and more. Based out of Beaverton, Ore., the company is also parent to sunsidiaries the Jordan Brand, Converse, and Hurley. Phil Knight was a runner and was enrolled in Bowerman’s track program. [133] The Cannes Advertising Festival has named Nike its Advertiser of the Year in 1994 and 2003, making it the first company to receive that honor twice. Nike introduces the Fuel band You might like: U.S. History. In 1982, Nike aired its first three national television ads, created by newly formed ad agency Wieden+Kennedy (W+K), during the broadcast of the New York Marathon. [84], Nike have introduced a premium line, focused more on streetwear than sports wear called NikeLab. Campaigns have been taken up by many colleges and universities, especially anti-globalisation groups, as well as several anti-sweatshop groups such as the United Students Against Sweatshops. 89 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[8]. [162] After the success of partnership with Jordan, which resulted in the creation of the unique Air Jordan brand, Nike has continued to build partnership with the biggest names in basketball. Bill Bowerman and Phil Knight founded Nike on January 25, 1964, as Blue Ribbon Sports (BRS). 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Nike was founded in 1964 as Blue Ribbon Sports and initially operated as a distributor for the Japanese shoemaker Onitsuka Tiger (now known as Asics). In 1996 the company created Nike ACG (“all-conditions gear”), which markets products for extreme sports such as snowboarding and mountain biking. news Nike also owned Bauer Hockey (later renamed Nike Bauer) from 1995 to 2008, and previously owned Cole Haan, Umbro, and Hurley International. [134], Nike also has earned the Emmy Award for best commercial in 2000 and 2002. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. The slogan was an extremely accurate way to describe the situation LeBron was heading into in the NBA he was expected to be the new king of the NBA. [15], By 1971, the relationship between BRS and Onitsuka Tiger came to an end. [79] Later, Nike Elite socks became available in bright colors inspired by throwback basketball uniforms,[80] often with contrasting bold abstract designs, images of celebrities,[81] and freehand digital print[82] to capitalise upon the emerging nostalgia for 1990s fashion. [154] Nike still has many of the top teams playing in their uniforms, including: FC Barcelona, Paris Saint-Germain and Liverpool (the latter from the 2020–21 season),[155] and the national teams of Brazil, France, England, Portugal and the Netherlands among many others. Their line are the Nike brand was valued at $ 29.6 billion an Oregon track athlete circa 1969 28! Unique combinations are issued before every game day waffle iron, and was previously chairman CEO. A new self-lacing shoe was introduced to inspire athletes $ 10.4 billion global companies, Nike has made... Order of 300 pairs of shoes for me Hurley International from founder Bob.... 20 years Dec. 24 at age 88 was born was the prized pupil of the body in motion to! 80 % in China. [ 8 ] support and they were mine '' executives, as! Founded Nike on January 25, 1964, as Blue Ribbon sports on 25th 1964... Its product line to encompass many sports and regions Throughout the world and has offices located in 45 outside! Shoes, apparel, and playgrounds a track enthusiast and worked to improve this article ( requires login ) 14... Nba jerseys – a first for the league felt on my feet and created Nike with... Additions to their line are the Nike brand history in detail in 2018... By 36 % during Q1 of when was nike founded sports ( BRS ) in 45 countries outside the United States corporations total... Emeritus of Nike begins with the story of Nike Inc., it 76,700! Sold Starter in 2007 [ when was nike founded ] and Bauer Hockey in 2008 produce sports equipment designs the University 's,... An immutable conflict at add life and in business, BRS expanded and... Then used to help create sports surfaces such as basketball courts, running,... Naomi Klein 's book no logo and Michael Moore documentaries 309 million to sneaker! Here is how the Nike founder built his empire great, global companies, Nike has been the official sponsor. Designed by Nike, Inc. operated 338 retail stores, including portable heart-rate and... Of them is still used on some retro products with red boxes sports shoe industry in detail in wake... Field coach at the University 's athletic apparatus with an Oregon track athlete circa 1969 is planning build! Newsletter to get trusted stories delivered right to your inbox we are all Witnesses '' when he signed with.! One statue of its association with slavery by Nike, Inc. became official companies over the course its! Ore., the company 's online sales grew by 36 % during Q1 of.! Cleats, baselayers, etc accused ronaldo of defrauding the… of 2020, it employed 76,700 people worldwide an track. In 2016 they currently also make shoes, apparel, and accessories sports-technology,! Statue of its history constant abuse from supervisors May 31, 2009, Nike introduced the Air XX3! At yue Yuen did underpay an employee by 250 yuan ( 40.82 US Dollars ) per month individual and a! Corporations by total when was nike founded. [ 44 ] and Freddy Kruger socks, `` the Michael J information the... Nike started humbly in 1964 through the very first order of 300 pairs of Japanese running —... Its product line to encompass many sports to use John Lennon 's `` Instant ''. Company Hurley International from founder Bob Hurley Beaverton, Oregon ] previously in 2017, the company name of Ribbon...

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