Nike is one of the most recognizable and successful brands in the world, but how did it start? Its story began more than 50 years ago with a handshake between two people and a vision for a revolutionary type of footwear. In this article, we’ll explore the fascinating origins of Nike and how it became the global powerhouse it is today.
Nike was founded in 1964 as Blue Ribbon Sports by Bill Bowerman and Phil Knight. In 1971, the company officially became Nike, named after the Greek goddess of victory. The company initially operated as a distributor for the Japanese shoemaker Onitsuka Tiger, making most sales at track meets out of Knight’s automobile. In 1978, Nike introduced its first line of apparel. Throughout the 1980s, Nike expanded its product line to include many other sports and regions throughout the world.
How Was Nike Created?
Nike 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 was founded on January 25, 1964, as Blue Ribbon Sports, by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971.
Early Years
In 1962, Phil Knight, a middle-distance runner at the University of Oregon, wrote a paper for his Stanford University graduate business course, proposing a business plan for importing Japanese sneakers to the United States. Knight found a partner in his old track coach, Bill Bowerman, who shared Knight’s entrepreneurial vision. They formed Blue Ribbon Sports, and in 1964 began selling Tiger-brand running shoes from Japan.
Growth and Expansion
In 1971, the company officially changed its name to Nike, after the Greek goddess of victory. The company began to expand its product line to include apparel and accessories, and by the 1980s, Nike had become a leader in the industry.
The company continued to expand and innovate throughout the 1990s and 2000s, introducing new technologies such as Nike Air, Nike+ (an online product personalization service), and Flyknit (a lightweight and breathable fabric technology).
Nike Today
Today, Nike is a global leader in the sporting goods industry and is one of the most recognizable brands in the world. The company employs more than 70,000 people worldwide and has more than 1,000 retail stores in the United States. Nike’s products are sold in over 170 countries and it sponsors some of the biggest names in sports, including Cristiano Ronaldo, LeBron James, and Michael Jordan.
Top 6 Frequently Asked Questions
What Year Was Nike Founded?
Nike was founded in 1964 by Phil Knight and Bill Bowerman. The company was originally called Blue Ribbon Sports and was a distributor for the Japanese shoe brand Onitsuka Tiger. Knight and Bowerman began by selling the shoes out of their cars, but eventually opened their first retail store in Santa Monica, California in 1966. The company was renamed Nike in 1971 and went public in 1980.
Who Created the Nike Swoosh?
The Nike Swoosh was created in 1971 by Carolyn Davidson, a graphic design student at Portland State University. She was paid $35 for her design, which was initially rejected by Phil Knight. He eventually accepted the design and it has become a globally recognized symbol.
What Were the First Products Nike Produced?
The first products produced by Nike were the Cortez running shoe and the Nike Tailwind. The Cortez was designed by Bill Bowerman, who was a track coach at the University of Oregon. The Tailwind was Nike’s first shoe with their iconic Air cushioning technology.
Who Is the Current CEO of Nike?
The current CEO of Nike is John Donahoe, who was appointed in January 2020. Donahoe previously served as the CEO of ServiceNow, eBay, and Bain & Company. He is the 10th CEO of Nike and the first non-founder to serve in the role.
How Has Nike Grown Over the Years?
Nike has grown significantly since its founding in 1964. The company has gone from selling shoes out of cars to becoming one of the world’s largest apparel companies. In 2019, Nike reported a revenue of $39.12 billion and has over 70,000 employees worldwide.
What Is Nike’s Mission Statement?
Nike’s mission statement is “to bring inspiration and innovation to every athlete in the world.” The company has a focus on creating innovative products that are designed to help athletes reach their goals and perform at their best. Additionally, Nike has a commitment to corporate responsibility and sustainability, which is reflected in their mission statement.
Nike is one of the most successful and iconic sports brands in the world, and it all started with a handshake between two good friends. From a small shoe factory in Oregon, Nike has grown to become an international leader in sports apparel, footwear, and equipment. The hard work, dedication, and innovation of founders Bill Bowerman and Phil Knight have created a company that continues to inspire and impact athletes around the world. Nike has not only revolutionized the way people view and participate in sports, but has set the standard for the future of the industry.
