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Nike

Nike traces its origins to 1962 when Phil Knight toured a Japanese shoe factory and struck a deal to distribute their shoes in the US. In 1964, Knight and his coach Bill Bowerman formed Blue Ribbon Sports and created the iconic Tiger Cortez shoe. In 1971, they changed the company name to Nike and introduced the iconic swoosh logo. In 1984, Nike signed Michael Jordan and created the iconic Air Jordan shoe, which helped turn the company around and became a massive commercial success despite an NBA ban, establishing Nike as a leader in basketball shoes and celebrity endorsements. Today Nike designs and markets athletic footwear, apparel, and equipment and is focused on creating strong emotional connections with customers through advertising,

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89 views7 pages

Nike

Nike traces its origins to 1962 when Phil Knight toured a Japanese shoe factory and struck a deal to distribute their shoes in the US. In 1964, Knight and his coach Bill Bowerman formed Blue Ribbon Sports and created the iconic Tiger Cortez shoe. In 1971, they changed the company name to Nike and introduced the iconic swoosh logo. In 1984, Nike signed Michael Jordan and created the iconic Air Jordan shoe, which helped turn the company around and became a massive commercial success despite an NBA ban, establishing Nike as a leader in basketball shoes and celebrity endorsements. Today Nike designs and markets athletic footwear, apparel, and equipment and is focused on creating strong emotional connections with customers through advertising,

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fabroroxanne
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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About history Products Advertisement

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Nike, Inc. (stylized as NIKE) is an American athletic footwear and apparel corporation
headquartered near Beaverton, Oregon, United States. 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$46 billion in its fiscal year 2022.
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The global sportswear giant traces its origins to 1962, when former University of Oregon track-and-field athlete Phil Knight
toured the Onitsuka (now Asics) factory in Japan and was impressed by the firm’s quality and speedy production. The trip led to a
deal to distribute the Onitsuka Tiger, the company’s signature shoe, in the United States. By 1964, Knight and his former
University of Oregon coach, Bill Bowerman, formed Blue Ribbon Sports; they created the iconic Tiger Cortez in 1967, their
version of the Onitsuka Tiger.
In 1971, Blue Ribbon split with Onitsuka; and the duo changed the firm’s name to Nike, after the Greek goddess of victory. Its
“swoosh” logo—which became one of the world’s most recognized brand logos—was also introduced that year. Carolyn David, a
Portland State University design student, charged $35 for the logo, although Knight eventually gave her 500 shares of stock in
1983.
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Nike went public in 1980, but struggled until, in 1984, the company spent its entire marketing budget to sign NBA rookie Michael
Jordan in an attempt to breathe life into its basketball shoe division. Jordan signed a five-year, $2.5 million contract to promote the
Air Jordan, a black-and-red basketball shoe that initially sold for $65 a pair (equal to $192 in 2023 dollars). The Nike/Michael
Jordan contract changed how brands sign athletes and other celebrities to marketing deals, as well as how brands market
themselves. The National Basketball Association (NBA) banned Jordan’s shoes, and issued a $5,000 fine each time he wore them.
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Nike embraced the ban and the controversy surrounding the shoes. The company paid the fines on Jordan’s behalf and created ad
campaigns around the ban, saying, “The NBA can’t stop you from wearing them.” Within the first two months of the shoe’s
release, Nike sold $70 million worth of Air Jordans. By the end of 1985, the firm reported revenue in excess of $100 million.
In 1997, Nike spun the Jordan brand into its own division. Instead of the Nike swoosh, Jordan-branded shoes, apparel, and
accessories feature the “Jumpman” logo, a silhouette of Jordan in midair, holding a basketball.
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NIKE, Inc. is engaged in the designing, marketing and distributing of athletic footwear, apparel,
equipment and accessories and services for sports and fitness activities. It sells a line of equipment
and accessories under the NIKE Brand name, including bags, socks, sport balls, eyewear,
timepieces, digital devices, bats, gloves, protective equipment and other equipment designed for
sports activities. The Jordan Brand designs, distributes and licenses athletic and casual footwear,
apparel and accessories predominantly focused on basketball performance and culture using the
Jumpman trademark.
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Nike's promotion strategy is focused on creating strong, emotional connections with their
customers through advertising, sponsorships, and events. They use a variety of marketing channels,
such as television, social media, and influencer marketing, to reach their target audience and build
brand awareness.

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