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is an American global firm that creates and sells footwear, clothing, equipment, accessories, and services all over the world. The company’s headquarters can be found in the Portland metropolitan area, specifically in the city of Beaverton, Oregon. With about US$37.4 billion in sales in its fiscal year 2020, it is by far the largest seller of athletic shoes and apparel and a major manufacturer of sports equipment worldwide (ending May 31, 2020).
As of the year 2020, it had 76,700 workers across the globe. By itself, the brand was worth more than $32 billion in 2020, making it the most valuable sports company brand. In 2017, Nike was estimated to be worth $29.6 billion as a brand. On the 2018 Fortune 500 list of the largest American companies, Nike came in at number 89.
Blue Ribbon Sports was started on January 25, 1964, by Bill Bowerman and Phil Knight, and was renamed Nike, Inc. on May 30, 1971. The corporation was named after Nike, the Greek goddess of triumph. Besides the Nike name, the company also sells products under the Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Nike Air Force 1,
Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7, and Jordan Brand and Converse names. In addition to Cole Haan, Umbro, and Hurley International, Nike owned Bauer Hockey from 1995 until 2008. The Niketown retail chain is a division of the firm that produces athletic apparel and gear. The “Just Do It” slogan and the Nike Swoosh emblem are globally known symbols of the company’s sponsorship of numerous famous sportsmen and sports teams.
Origins and history
Blue Ribbon Sports (BRS) was formed on January 25, 1964 by University of Oregon track star Phil Knight and his coach, Bill Bowerman. The company began in the trunk of Knight’s car in Eugene, Oregon as a distributor for the Japanese shoe company Onitsuka Tiger. Otis Davis, an athlete for the University of Oregon coached by Bowerman and a gold medallist at the 1960 Summer Olympics, claims that Bowerman made the first pair of Nike shoes for him instead of Phil Knight.
So far as Davis can tell, “I was the first to tell Tom Brokaw the fact. What the world’s billionaires think makes no difference to me. My first pair of shoes was crafted by Bill Bowerman. They don’t take me seriously. The moment I put them on my feet, I knew I would not like them. Neither the tightness nor the lack of support was ideal. However, I realised they were mine after noticing Bowerman remove them from the waffle iron “.
BRS earned $8,000 in revenue from the sale of 1,300 pairs of Japanese running shoes in its first year of operation. Sales hit $20,000 by 1965. BRS’s initial store was located at 3107 Pico Boulevard, Santa Monica, California, and it debuted in 1966. As business grew, BRS opened a store and delivery centre in Wellesley, Massachusetts, in 1967.
Acquisitions
Throughout its existence, Nike has bought and sold a number of competing shoe and clothing brands. Starting with high-end shoemaker Cole Haan in 1988 and moving on to hockey equipment manufacturer Bauer in 1994, the company has made several acquisitions. Nike purchased Bob Hurley’s surfwear company, Hurley International, in 2002. Converse was purchased by Nike for $309 million in 2003.
In 2004, it purchased Starter, and in 2007, it bought the soccer uniform manufacturer Umbro. In the 2000s, Nike started selling off several of its subsidiaries in an effort to streamline its operations and concentrate on its core businesses. In 2007, it sold the Starter brand, and in 2008, Bauer Hockey. Sales of Umbro and Cole Haan occurred in 2012 and 2013, respectively. Converse Inc. will be Nike’s sole subsidiary in 2020. The [insert reference here]
In March of 2018, Nike purchased Zodiac, a consumer data analytics firm. Celect, a Boston-based provider of predictive analytics, was purchased by the corporation in August of 2019. Shoe manufacturer RTFKT Studios was acquired by Nike in December 2021. Datalogue, a New York-based digital sales and machine learning technology firm, was bought by Nike in February 2021.
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— Nike.com (@nikestore) October 5, 2022
Finance
In 2013, Nike replaced Alcoa on the Dow Jones Industrial Average. There was a 13 percent increase in worldwide orders for Nike products between April 2013 and December 2013, contributing to a 19 percent increase in quarterly profit. The total value of clothing and footwear ordered for December–April delivery increased to $10.4 billion. In after-hours trade, Nike shares (NKE) gained 0.6% to $78.75.
Earlier this year, Nike announced a $12 billion share repurchase and a two-for-one stock split, with the new stock price going into effect on December 24. This will be the seventh such division the corporation has undergone. The [insert reference here] The company announced in June 2018 that it would commence a $15 billion share buyback over four years, starting in 2019.
Earnings for Nike totaled $1.933 billion in fiscal year 2018, up 6.0% year-over-year, on revenue of $36.397 billion. In October of 2018, Nike’s stock price was over $72 per share, giving the company a market size of over US$114.5 billion. As a result of the COVID-19 pandemic, Nike reported a 5% decline in sales in China in March 2020 as a result of store closures. It was the first decline in six years. Online sales for the company increased by 36% in Q1 of 2020. Additionally, in China, sales of fitness-oriented applications increased by 80 percent.
