The First year In Business
In 1964, in its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $8,000.
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History of Nike, Inc.
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.
Establishing
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.
Acquiring a Full-Time Employee
By 1965 the fledgling company had acquired a full-time employee, and sales had reached $20,000.
The First Retail Store
In 1966, BRS opened its first retail store, located at 3107 Pico Boulevard in Santa Monica, California next to a beauty salon, so its employees no longer needed to sell inventory from the back of their cars.
BRS Expanded Retail and Distribution Operations on The East Coast
In 1967, due to rapidly increasing sales, BRS expanded retail and distribution operations on the East Coast, in Wellesley, Massachusetts.
The Relationship between BRS and Onitsuka Tiger Was Nearing an End
By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end. BRS prepared to launch its own line of footwear, which would bear the Swoosh newly designed by Carolyn Davidson.
The Swoosh Was First Used by Nike
The Swoosh was first used by Nike on June 18, 1971.
Registering The Swoosh With The U.S. Patent and Trademark Office
The Swoosh was registered with the U.S. Patent and Trademark Office on January 22, 1974.
The Company Hired Its First Advertising Agency
In 1976, the company hired John Brown and Partners, based in Seattle, as its first advertising agency.
Creating The First "brand ad" For Nike
In 1977, John Brown and Partners agency created the first "brand ad" for Nike, called "There is no finish line", in which no Nike product was shown.
Nike Expanded Its Product Line
Throughout the 1980s, Nike expanded its product line to encompass many sports and regions throughout the world.
The Company Went Public
By 1980, Nike had attained a 50% market share in the U.S. athletic shoe market, and the company went public in December of that year.
Releasing Nike Air Max
Nike Air Max is a line of shoes first released by Nike, Inc. in 1987.
Using The Beatles Song "Revolution" In a Commercial
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 First acquisition
Nike has acquired several apparel and footwear companies over the course of its history, some of which have since been sold. Its first acquisition was the upscale footwear company Cole Haan in 1988.
Nike's first "Just Do It" Advertisement
Walt Stack was featured in Nike's first "Just Do It" advertisement, which debuted on July 1, 1988.
Nike Moved Into Its Eight-Building World Headquarters Campus
In 1990, Nike moved into its eight-building World Headquarters campus in Beaverton, Oregon.
The First Nike Retail Store
The first Nike retail store, dubbed Niketown, opened in downtown Portland in November 1990.
Nike Released Air Huarache
Additional product lines were introduced by Nike, such as Air Huarache, which debuted in 1992.
Purchasing Bauer Hockey
Nike purchased Bauer Hockey in 1994.
Purchasing Hurley International
In 2002, Nike bought surf apparel company Hurley International from founder Bob Hurley.
Nike acquired Converse
In 2003, Nike paid US$309 million to acquire Converse, makers of the Chuck Taylor All-Stars line of sneakers.
Nike acquired Starter
The company acquired Starter in 2004.
Nike Launched The SPARQ Training Program/Division
In 2004, Nike launched the SPARQ Training Program/Division.
The Official Kit Sponsor For The Indian Cricket Team
Nike has been the official kit sponsor for the Indian cricket team since 2005.
Nike's World Headquarters Problem
Nike's World Headquarters are surrounded by the city of Beaverton but are within unincorporated Washington County. The city attempted to forcibly annex Nike's headquarters, which led to a lawsuit by Nike, and lobbying by the company that ultimately ended in Oregon Senate Bill 887 of 2005.
Nike Financial State of 2005
The Total Assets of Nike corporation in 2005 was 8,794 mil. US$.
Nike Introduced Air Zoom Vomero Running Shoe
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.
Nike Financial State of 2006
The Total Assets of Nike corporation in 2006 was 9,870 mil. US$.
Nike Sold Starter
In order to refocus on its core business lines, Nike began divesting of some of its subsidiaries in the 2000s. It sold Starter in 2007.
Nike Financial State of 2007
The Total Assets of Nike corporation in 2007 was 10,688 mil. US$.
Nike acquired Umbro
The company acquired Umbro, known as the manufacturers of the England national football team's kit, in 2008.
Nike became The First Company To Receive Cannes advertising Award Twice
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 sold Bauer Hockey
Nike sold Bauer Hockey in 2008.
Nike Introduced The Air Jordan XX3
In 2008, Nike introduced the Air Jordan XX3, a high-performance basketball shoe designed with the environment in mind.
Nike's Campaign at The Earth Day 2008
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.
Nike Financial State of 2008
The Total Assets of Nike corporation in 2008 was 12,443 mil. US$.
Nike Financial State of 2009
The Total Assets of Nike corporation in 2009 was 13,250 mil. US$.
Nike Financial State of 2010
The Total Assets of Nike corporation in 2010 was 14,419 mil. US$.
Nike Statement about Its Factories producing Converse Products
As of July 2011, Nike stated that two-thirds of its factories producing Converse products still do not meet the company's standards for worker treatment.
Nike Financial State of 2011
The Total Assets of Nike corporation in 2011 was 14,998 mil. US$.
Nike Sold Umbro
Nike sold Umbro in 2012.
Nike Was Listed as a Partner of The (PRODUCT) RED
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").
The Asian Football Confederation
In 2012, Nike carried a commercial partnership with the Asian Football Confederation.
Nike Inc. Has Bought Back $10 Billion of Stock
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 $10 billion of stock.
Nike Financial State of 2012
The Total Assets of Nike corporation in 2012 was 15,465 mil. US$.
Nike Sold Cole Haan
Nike sold Cole Haan in 2013.
The Dow Jones Industrial Average
Nike was made a member of the Dow Jones Industrial Average in 2013, when it replaced Alcoa.
Nike Signed Rory McIlroy
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.
Nike announced It Suspended Its Contract With Oscar Pistorius
On February 21, 2013, Nike announced it suspended its contract with South African limbless athlete Oscar Pistorius, due to his being charged with premeditated murder.
Nike's Quarterly Profit Rose
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 $78.75 in extended trading.
Nike Financial State of 2013
The Total Assets of Nike corporation in 2013 was 17,545 mil. US$.
One of The biggest Strikes In Mainland China
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.
Nike's Kit Supply Deal With Manchester United
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.
Nike Financial State of 2014
The Total Assets of Nike corporation in 2014 was 18,594 mil. US$.
Introducing The Nike Mag
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.
Phil Knight announcemed That He Would Step Down
Phil Knight announced in mid-2015 that he would step down as chairman of Nike in 2016.
Nike Signed an 8-year Deal With The NBA
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.
Nike announced It Would Initiate a $12 Billion Share Buyback
In November 2015, Nike announced it would initiate a $12 billion share buyback, as well as a two-for-one stock split, with shares to begin trading at the decreased price on December 24. The split will be the seventh in company history.
Nike Financial State of 2015
The Total Assets of Nike corporation in 2015 was 21,597 mil. US$.
Phil Knight Officially Stepped Down
Phil Knight officially stepped down from all duties with the company on June 30, 2016.
Nike Financial State of 2016
The Total Assets of Nike corporation in 2016 was 21,379 mil. US$.
Nike announced Its Launch of a Plus-Size Clothing Line
In March 2017, Nike announced its launch of a plus-size clothing line, which will feature new sizes 1X through 3X on more than 200 products.
The Paradise Papers
On 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that Nike is among the corporations that used offshore companies to avoid taxes.
Nike Financial State of 2017
The Total Assets of Nike corporation in 2017 was 23,259 mil. US$.
The Fiscal year 2018
For the fiscal year 2018, Nike reported earnings of US$1.933 billion, with an annual revenue of US$36.397 billion, an increase of 6.0% over the previous fiscal cycle. Nike's shares traded at over $72 per share.
Nike's announcement about Trevor Edwards's Retire
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.
Nike announced It Would Initiate a $15 Billion Share Buyback
In June 2018, Nike announced it would initiate a $15 billion share buyback over four years, to begin in 2019 upon completion of the previous buyback program.
Nike announced It Had Signed Former American Football Quarterback Colin Kaepernick
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.
Nike's Market Capitalization
Nike's market capitalization was valued at over US$114.5 billion in October 2018.
Nike Financial State of 2018
The Total Assets of Nike corporation in 2018 was 22,536 mil. US$.
Nike Released a Shoe Featuring a Betsy Ross Flag
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.
John Donahoe was announced as the next CEO
In October 2019, John Donahoe was announced as the next CEO and succeeded Parker on January 13, 2020.
Nike stopped selling directly through Amazon
In November 2019, the company stopped selling directly through Amazon, focusing more on direct relationships with customers.
Nike reported a 5% drop in Chinese sales
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.
John Donahoe stated that "Nike is a brand that is of China and for 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.