"I truly believe the American consumer doesn't want to buy products made under abusive conditions. Part of what has allowed Nike to expand its online and omnichannel initiatives so quickly, Shi says, is its new global e-commerce platform. Did you know that the swoosh logo was patterned after the wings … But perhaps the company's biggest boom came in the 1980s when it signed basketball star Michael Jordan to an endorsement deal. 38 There are now more strict rules about companies doing marketing techniques like these. Between fiscal 2017 and fiscal 2019, the region’s revenues increased at a CAGR of 7.2%. It was the start of many product endorsement packages that have become part of the growth of the Nike brand. BRS renamed the company Nike, Inc. in 1973. Founded as an importer of Japanese shoes, NIKE, Inc. (Nike) has grown to be the world's largest marketer of athletic footwear, holding a g lobal market share of approximately 37 percent. Nike’s first employee, Jeff Johnson chose the name ‘Nike’. Olympic decathlete Ashton Eaton, left, and pro football player Victor Cruz speak at a Nike event in New York in October 2013. The United Kingdom, France, Germany, Austria, and Switzerland are Nike’s key target markets in Europe. The company was renamed Nike, Inc., in 1978 and went public two years later. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. The name "Nike" comes from the Greek goddess of victory. Part of Nike’s success is owed to endorsements by such athletes as Michael Jordan, Mia Hamm, Roger Federer, and Tiger Woods. Roland Weihrauch/AP. Nike and Adidas remain far ahead, however, not only on the world stage but also in China. In addition to individual athletes, Nike has signed apparel deals with major sports teams across the world, including London soccer club Arsenal. In the same year, it signed an endorsement contract with Romanian ATP tennis player Ilie Năstase. PRODUCTS & ORDERS. 1-800-806-6453 4 am - 11 pm PT 7 days a week. Password reset email has been resent. The company also makes equipment for just about every sport. PHOTO: NikeTown in London is the company's largest store. Here is one of its new soccer cleats launched in New York for the 2014 World Cup. Knight poses for a photo in March 1994. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight. Just a few years ago, it seemed like the global battle between Nike and Adidas for sneaker dominance was all but over. Adidas has been unsuccessful in an attempt to expand its trademark three-stripe design in the EU after a court ruled it was not “distinctive” enough. It is one of the world's largest suppliers 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). Nike leads in Chinese market share at 22.1%, followed by Adidas with 18.6% and Anta a distant third at 10.4%. PHOTO: Last week he set the ambitious goal of increasing sales 40%, to $27 billion, by 2015. PHOTO: In the United States, Nike products are sold through about 22,000 retail accounts; worldwi de, the company's products are sold in more than 160 countries. The e-commerce giant Amazon has bet big on India, even boasting on a company website last year about its ability to deliver to a remote Himalayan village 11,500 feet above sea level. Nike footwear grew in popularity as the company continued … In response to allegations of child labor in its overseas factories, Nike promised to improve working conditions and raise minimum ages. In the 1990s the company’s image briefly suffered from revelations about poor working conditions in its overseas factories. PHOTO: ", PHOTO: Please click the button below to agree to our Terms and Conditions and acknowledge our Privacy Policy. Bowerman, right, meets with runner Steve Prefontaine after a race in Eugene, Oregon, in June 1970. That month prosecutors filed a lawsuit that accused Ronaldo of defrauding the…. © 2020 Cable News Network. Adidas AG (German: [ˈʔadiˌdas]; stylized as adidas since 1949) is a German multinational corporation, founded and headquartered in Herzogenaurach, Germany, that designs and manufactures shoes, clothing and accessories.It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike… Formula One champion Michael Schumacher presents his new Nike racing shoe in Cologne, Germany, in January 1996. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. Nike's come a long way since its first track shoes. The business started trading as a retail outlet and continued selling Japanese … Johnson was one of the major stars of the Olympics, winning the 200 meters and the 400 meters in record time. Today Nike, Inc. dominates the global sports footwear market with a 38% market share. Updated Founded in 1964 by University of Oregon track athlete Philip Knight and his coach Bill Bowerman, Nike has become a leading player in the athletic footwear and apparel industry. Nike vice president and GM of Greater China Angela Dong explains the company's "category offense" strategy to hit a big revenue goal. PHOTO: These are the first designs of Nike's trademark stripe, which is now known as the "swoosh." U.S. sprinter Michael Johnson wears gold Nike shoes at the 1996 Olympic Games in Atlanta. Nike is a transnational corporation (TNC) founded nearly half a century ago. This waffle iron was found in a trash heap nearly 40 years after it inspired Bowerman to create a new kind of sole for running shoes -- one that didn't have spikes but could still have grip. Let us know if you have suggestions to improve this article (requires login). Nike is the world market leader in athletic shoes and apparel and operates in more than 200 countries. Nike did not make the cost of the commercial public, and by the spring of 2002 the company had moved on to other, more product-focused campaigns. Like Nike’s image as a running and basketball shoe company, Under Armour is presently only associated with American Football. Corrections? 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