Saturday Jan 25, 1964 to Present
U.S.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$24.1 billion in its fiscal year 2012 (ending May 31, 2012). As of 2012, it employed more than 44,000 people worldwide. In 2014 the brand alone was valued at $19 billion, making it the most valuable brand among sports businesses. As of 2017, the Nike brand is valued at $29.6 billion. Nike ranked No. 89 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
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. The company initially operated in Eugene as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Phil Knight's automobile.
Nike was criticized for its use of the Beatles song "Revolution" in a 1987 commercial against the wishes of Apple Records, the Beatles' recording company. Nike paid US$250,000 to Capitol Records Inc., which held the North American licensing rights to the recordings, for the right to use the Beatles' rendition for a year.
Nike's World Headquarters are surrounded by the city of Beaverton but are within unincorporated Washington County. The city attempted to forcibly annex Nike's headquarters, which led to a lawsuit by Nike, and lobbying by the company that ultimately ended in Oregon Senate Bill 887 of 2005.
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, an external heel counter, a crashpad in the heel for shock absorption, and Fit Frame technology for a stable fit.
One campaign that Nike began for Earth Day 2008 was a commercial that featured basketball star Steve Nash wearing Nike's Trash Talk Shoe, which had been constructed in February 2008 from pieces of leather and synthetic leather waste from factory floors. The Trash Talk Shoe also featured a sole composed of ground-up rubber from a shoe recycling program. Nike claims this is the first performance basketball shoe that has been created from manufacturing waste, but it only produced 5,000 pairs for sale.
In 2012, Nike is listed as a partner of the (PRODUCT)RED campaign together with other brands such as Girl, American Express, and Converse. The campaign's mission is to prevent the transmission of the HIV virus from mother to child by 2015 (the campaign's byline is "Fighting For An AIDS Free Generation").
Nike bought back $8 billion of Nike's class B stock in four years after the current $5 billion buyback program was completed in the second quarter of fiscal year 2013. Up to September 2012, Nike Inc. has bought back $10 billion of stock.
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 deal includes using Nike's range of golf clubs, a move Nick Faldo previously described as "dangerous" for McIlroy's game.
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. Future orders of shoes or clothes for delivery between December and April, rose to $10.4 billion. Nike shares (NKE) rose 0.6 percent to $78.75 in extended trading.
In 2015, a new self-lacing shoe was introduced. 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. Fox Foundation. This was done again in 2016.
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 brand took over for Adidas, who provided the uniforms for the league since 2006.
In November 2015, Nike announced it would initiate a $12 billion share buyback, as well as a two-for-one stock split, with shares to begin trading at the decreased price on December 24. The split will be the seventh in company history.
In a company public announcement on March 15, 2018, Parker said Trevor Edwards, a top Nike executive who was seen as a potential successor to the chief executive, was relinquishing his position as Nike's brand president and would retire in August.
In September 2018, Nike announced it had signed former American football quarterback Colin Kaepernick, noted for his controversial decision to kneel during the playing of the US national anthem, to a long-term advertising campaign.
In July 2019, Nike released a shoe featuring a Betsy Ross flag called the Air Max 1 Quick Strike Fourth of July trainers. The trainers were designed to celebrate Independence Day. The model was subsequently withdrawn after Colin Kaepernick told the brand he and others found the flag offensive because of its association with slavery.
In March 2020, Nike reported a 5% drop in Chinese sales associated with stores' closure due to the COVID-19 outbreak. It was the first decrease in six years. At the same time, the company's online sales grew by 36% during Q1 of 2020. Also, the sales of personal training apps grew by 80% in China.
On June 24, 2021, during an earnings call with investors, CEO John Donahoe stated that "Nike is a brand that is of China and for China", in response to a question about competing against Chinese brands.