Bill Bowerman, the University of Oregon coach well known for bringing jogging to America and Phil Knight an accounting major at the University of Oregon, a track runner and a prot g of Bill Bowerman formed a partnership and begun importing shoes from China in 1964. Bowerman's quest for a more lighter and durable racing shoes for his athletes coupled with Knight's desire for a way of living that will not devoid his love of athletics is what birthed Tiger shoes as Nike was originally called.In the early 1960's while the German shoe manufactures dominated the shoe industry, Knight fostered the idea about bringing low-priced, high tech athletic shoes from Japan where shoes were made for cheap to dethrone the incumbent ruler of the US athletic industry.
Knight visited the China shoe factory Onitsuka Tiger in 1962, presented his idea to the representatives of the shoe factory, the Tiger executives liked the idea, Knight received his first sample of the shoes in 1963 and in 1964, Eight thousand worth of tiger shoes was sold by Knight and Bower man's Blue Ribbon Sports Co.While Bowerman tried to improve the new tiger shoe designs, Knight explored avenues to expand and maintain his brainchild by hiring Jeff Johnson in 1965 to sell the shoes. Jeff Johnson was then the Blue Ribbon Sports Co. 's first employee and he sold the tiger shoes out of the back of his van at high school track and meets.
Johnson opened the company's first retail shop in a narrow building at 3107 Pico Blvd. , Santa Monica, California in 1966.In 1971, the swoosh design was created by graphic design artist Carolyn Davidson in June and in 1972 with the vision of Jeff Johnson the first Nike shoe was introduced including the " Moon Shoe" that featured the waffle sole which was distributed to athletes competing in the US Olympic track and Field Trails in Eugene. Llie Nastase was the very first athlete to sign an endorsement contract with Blue Ribbon Sports in 1972 to wear its Nike tennis shoes.In 1973, the American track record holder Steve Prefontaine became the first major track athlete to wear Nike shoes and like Bowerman, Prefontaine with his love for running played a dynamic role in the designing of the Nike shoes until his death in 1975.
John McEnroe in 1978 also signed an endorsement deal with Nike to wear their tennis shoes joining the pioneers of athletes who helped establish the Nike brand in the American community.In 1980, Nike completes an initial offer to the public 2,377,000 shares of Class B common stock and Blue Ribbon Sports Co. ransitioned into Nike, Inc. in 1981, soon after the first public offering of shares. As of May 31st, Nike operated 212 retail stores in the United States only and 206 retail stores internationally.
Nike Inc. has become the number one shoemaker in the world and controls more than 20% of the US athletic shoe market (Hoovers). Through it subsidiary companies, Nike Inc. has transcended from shoe manufacturing to design, development and marketing of apparels, equipments and sports accessories for men, women and children.Nike Inc.
s footwear products include cross-training, soccer, football, running, and urban shoes designed for golf, baseball, skateboarding, bicycling, cheerleading, wrestling, hiking, walking, aquatic activities and other recreational purposes. Some of the athletic accessories include athletic bags, watches and other accessories. Nike Inc. also markets performance equipment such as Nike golf clubs, balls. Sport balls, eyewear, bats, electronic devices, protective equipment and other devices designed for sport activities.
Nike Inc. lso manufactures and distributes ice skates, skate blades, protective gear and hockey sticks; they also provide licenses to produce Nike brand swim wear, children's clothing, school supplies and cycling apparel. Converse based in Massachusetts, Cole ; Haan based in Main, Hurley International based in California and Nike Bauer Hockey also based in New Hampshire are the subsidiary firms Nike Inc has acquired in its effort to reach within and beyond sports.Through their Exeter Brand Groups such as the Starter Team and Asphalt Brand names who are the master licensee of the Shaq and Dunkman brands, Nike Inc. as been able to design and market athletic footwear and apparel for the value retail channel.
Nike Inc. reported an annual revenue for the fiscal year 2006(ending May 31) of $15 million with a net income after taxes of $ 1,392 million, a $180400 increase from last fiscal year's net income of $1, 211,600 (WSJ. com, 2006). Phil Night now at the age of 68, is the chairman of the Board of Directors, Mark G Parker succeeded William D Perez as Chief Executive Officer (CEO), President and Director in 2006 and Donald W.Blair is the Vice President and Chief Financial Officer of Nike Inc. (WSJ.
com, 2006). Bill Bowerman, cofounder of Nike died at age 88 in December of 1999, as a coach, Bowerman imbued in his athletes the need to seek the competitive advantage at every turn; this guiding principle has served Nike Inc. well. In the face of stiff competition from Reebok who was recently acquired by Adidas and is the number Two shoemaker in the industry, Nike Inc.
has channeled its products to over 160 countries all over the world and will continue to make strides.
