SPORTS COMPANY
SEPTEMBER 2, 2021
Overview Of Nike Company
Overview of Nike company as the number one sports apparel company in the world that share the biggest market in product selling.
Nike Inc. is an American sportswear company that was founded on January 25, 1964 as Blue Ribbon Sports by Bowerman, a track-and-field coach at the University of Oregon and his former student Phil Knight.
The company changed its name to Nike, Inc., the Greek goddess of victory, on May 30, 1971. It is the world’s largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment. As for the year 2020, their revenue reaches US$ 37.40 billion with net income of US$ 2.54 billion. The total assets reached US$31.34 billion in 2020 while the number employees is about 75.400 around the globe in 2020.
Nike is currently headquartered in Beaverton, Oregon with the brand valued in $32 billion worth, the most valuable brand in the sports business. The company ranked 89th in 2018 Fortune 500 list of the largest United States corporations by total revenue.
The Britannica website describes the subsidiaries of Nike including Jordan Brand and Converse (bought in 2003), they owned Bauer Hockey from 1995 to 2008 and previously owned Cole Haan (1988 sold in 2012), Umbro (2008 to 2012) and Hurley International.
By the early 21st century Nike has retail outlets and distributor in more than 170 countries as well as selling sports-technology accessories including wrist band monitors.
High profile athletes that endorse Nike brand including Michael Jordan, Roger Federer and Tiger Woods. They helped boost the image as a high quality sports apparel for decades around the world.
The Nike Swoosh logo was first used on June 18, 1971 and designed by Carolyn Davidson when Blue Ribbon Shoe prepared to launch their own line of footwear which was rebranded as Nike.
The slogan “Just Do It” for a 1988 Nike ad campaign was coined by Dan Wieden, a co-founder of Nike’s primary ad agency, Wieden+Kennedy. It was chosen by Advertising Age as one of the top five slogans of the 20th century. The first Nike’s “Just Do It” advertisement debuted on July 1, 1988 featuring Walt Stack, a San Francisco running community icon by popular acclaim.
The Nike brand quickly became a status symbol in modern urban fashion and hip hop fashion. With more than 700 shops around the world, Nike offices located in 45 countries outside the United States. Most of the factories are located in Asia including Indonesia, China, Taiwan, India, Thailand, Vietnam, Pakistan, Philippines and Malaysia.
Currently the biggest rival of Nike is the Adidas from Germany. They have been competing for decades in the sports apparel market. Nike is the number one with Adidas in number two in terms of product selling.
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