Nike

In 1957, a Coach and an athlete met at the University of Oregon, and together they went on to establish the most successful athletic footwear company in the world. Bill Bowerman and Phil Knight are these founders. The history of Nike can be split up into sections of three decades. From 1961 to 1971, Knight decided that dealing Tiger, a Japanese company, would break up the World domination in athletic shoes by Germany. He traveled to Japan and met with the executives for Tiger. When asked what company he represented, Knight, caught off guard, uttered the words “Blue Ribbon Sports,” giving birth to the forerunner of Nike. Soon the revenue on the company began to rise, and finally in 1971, student Carolyn Davidson designed the Swoosh for $35.00.
From 1972 to 1980, Blue Ribbon Sports underwent quite a few changes. BRS split from Tiger and became Nike, named after the Greek Goddess of Victory. Nike also expanded to Australia, Europe, and Asia. By 1979, Nike claims 50 percent of the running market, and in 1980, the 2,700-employee company went public. Between 1981 and 1991, Nike began to expand their marketing strategies by sponsoring top athletes. Some of these athletes include Carl Lewis who won four gold metals at the L.A. Olympics and John McEnroe. In 1985, Nike discovered a rookie for the Chicago Bulls who would later become one of their biggest sellers, Michael Jordon. Air Jordon was established, and the next year, the revenue reached the 107 billion-dollar mark. By 1989, the Just Do It campaign had been in effect for two years
From 1991 and on, Nike continues to grow. Not only does Nike corner the market in The United States, but also in other countries, including Canada, Japan, and Taiwan.

Category: Business