Nike, Inc - Company Overview, History, Products
Nike Inc. is one of the most popular American multinational companies that manufactures and sells footwear, clothing apparel, sports equipment, accessories, and other services. Nike is currently involved in design development manufacturing worldwide marketing and sales of its own merchandise products. It is currently headquartered in Beaverton, Oregon near the Portland metropolitan area. Nike currently employs more than 76,700 employees worldwide.
The most popular thing that Nike has been famous for is its large supply of athletic shoes and sports equipment that are made in collaboration with famous sports personalities like Michael Jordan, Ronaldo, and Rory Mcilroy. Nike did the biggest collaboration with athlete Rory Mcilroy in 2013 for about $250 million for the next 10 years.
In the financial year 2021, Nike generated a revenue of more than 45 billion dollars which made it one of the most valuable sports luxury brands. Nike's currently listed on the New York stock exchange market with a market capital of 180 billion dollars. Nike currently holds 313th rank in the Fortune 500 companies by revenue in the United States. The CEO of Nike is John Donahoe.
The name of the company Nike was derived from the word called the Greek goddess of Victory. Nike includes multiple subsidiary brands like Nike Pro, Nike Air Jordan, Air force 1, Nike Dunk, Nike CR7, Nike Skateboarding, Nike +, Nike Converse, Foamposite, and Nike Blazers. The motto of the Nike brand is 'Just Do It'.
History of Nike:
Nike was founded by Bill Bowerman and Phil Knight as a Blue ribbon sports (BRS) company on January 25, 1964. Later on, its name was changed to Nike Inc in 1971. At the start of the company at the University of Oregon, Nike used to train student-athletes for the summer Olympics and then manufacture Nike shoes for them after they won. This led to common thinking within the people's minds that these shoes help them to win medals at Olympics.
By 1965, Nike made $20,000 dollars in the sales of its sneakers. By 1980, Nike had achieved a 50 percent market share for sneakers and athletic shoes. Nike also bought Bauer Hockey from 1994 to 2009 and some other companies including Cole Haan, Umbro, and Hurley International. In 1971, in addition to the manufacturing of their sports apparel and clothing, Nike also started its advertisement business using their high-profile football and basketball stars using the trademarks of "Just Do It'' and the Swoosh logo.
Nike acquired multiple clothing apparel and footwear brands like Bauer Hockey in 1994, Hurley International in 2002, and Converse in 2003 for 309 million dollars. In 2015, Phil Knight stepped down from the board of Nike and resigned. Then in 2019, John Donahoe became the CEO of Nike and its next brand president. He also started directly collaborating with E-commerce websites like eBay and Amazon for Nike during the Covid-19 period.
Nike - Products and Services:
The various production services of Nike are as follows:
Athletic Shoes - Nike is hugely known for its athletic shoes like Nike Air Max and Nike Jordan which are made in collaboration with a famous basketball player Michael Jordan. Nike has also partnered with football star Ronaldo to release his own version of the shoes.
Sneakers - These casually designed shoes made by Nike are the second highest revenue gainer for them which include Air force 1, Nike dunk, Foamposite, Nike Skateboarding, Nike +, and Nike Blazers.
Sports Equipment - Nike also sells its sports equipment for various sports like football, basketball, cricket, baseball, golf, and ultimate frisbee.
Clothing Apparel - Nike also has its own clothing apparel lineup which includes t-shirts, shorts, and other sports clothing that one might need while playing.
Jerseys - Since Nike sponsors multiple sports teams in football, baseball, and other sports, it also sells its jerseys to football fans or basketball fans. For example, Nike sells the jersey of Liverpool FC officially.
Sponsored Merchandise - Nike is famous for promoting and advertising its sports brands by paying top athletes to use its products. Like this successful basketball player Michael Jordan is officially a billionaire due to the successful Nike Jordan athletic shoes. Other players sponsored by Nike include Ronaldo, Neymar, Rory Mcilroy, Carl Lewis, Tiger Woods, Sebastian Coe, and many more. Nike sells merchandise like shoes, clothing, and sports equipment by asking these popular athletes to use them.
Hence, Nike is one of the largest multinational sports companies that is famous for its sales of athletic shoes, sneakers especially the Jordan and clothing apparel, sports equipment, and other services. It is the largest supplier of athletic shoes all over the world and it is the most valuable brand in its legacy of sports.