The company is created by Bill Bowerman and Phil Knight with $1200 in Portland, Oregon. It was named Blue Ribbon Sports. In 1971, it was officially declared Nike Inc. by Jeff Johnson. Name Nike comes from the name of the Greek goddess of Victory. In the same year Nike made two achievements, Firstly, Graphic design student named Carolyn Davidson designs the swoosh and second Bowerman’s got an idea for a grooved pattern on the sole of trainers when he put rubber on a waffle iron and observed the stylish pattern embossed.
IIieNastase is the first athlete to sign an endorsement contract with Nike. Nike became famous among athletes, when in Year 1974 The Nike Waffle Trainer shoe is patented. With their innovative approach In 1974 Nike develops the first shoe designed for use on grass and lawn: the Nike Shark.
In 1984, Nike signed Michael Jordan for endorsement of their stylish and comfortable shoes. Company also took major steps to promote its brand. In 1987, Nike’s ad for Air Max Shoes was broadcasted. Ad was sound tracked by The Beatles “Revolution”. Nike also launched its first campaign named “Just Do it”. The campaign was initiated with running icon- Walt Stack. The slogan was inspired by serial killer Gary Gilmore.
The first Niketown store opens in Portland in year 1990. Nike publishes its first code of conduct in year 1992 for factory workers. To stay environment friendly and sought ways to reduce the company’s environmental footprint Nike took major step and launched a program”Reuse A-Shoe” to reuse old, worn out athletics shoes for recycling and transforms them into Nike Grind. It was an eco-friendly step towards the society. This major and beneficing program stated in 1993. This period was full of achievements for Nike, as Nike signed American Basketball Player LeBorn James. In 1995, Nike signs apparel contract with the NFL for the outfitting of few of its teams. With the company’s continuous achievements Nike became Marketer of the Year by advertising Age in year 1996.In the same year Nike signed Tiger woods the American Golfer for endorsement deal mostly for apparel. In 1998, company decided to create Nike Golf and in 2000, Mr. Woods stated playing with a Nike Ball. By the end Nike returns were at $6.74 billion.
Nike causes controversy with its advertising campaign slogan, “You don’t win Silver-You Lose Gold” during summer Olympics. Nike’s slogan got harsh criticism from former silver and bronze medallists as well as public. In year 1997, Nike signs hockey stars to countersignature deals to wear their different and unique new line of skates. These new skates named ‘all white’ were different from the normal black standard hockey skates. Even these new skates were liked by Wayne Gretzky. Nike introduces the first “tennis shoe” style golf shoe in the market. Bill Bowerman, co-founder of Nike, dies on December 24 1999. In 2000, Nike Shox support system is introduced. Nike purchases Hurley International, an action sports clothing company. Nike launches NikeGO to increase physical activity among children.Nike became apparel sponsor of Manchester United. Nike acquires bankrupt rival converse for $305million on July 9.Once again Nike named “Advertiser of the Year” by Cannes Advertising Festival. Phil Knight steps down as the CEO. He replaced by William D. Perez. By the end of year 2004 annual turnover of the company exceed $12.25 billion. Nike introduced Nike Free a running shoe.
In 2006, Nike comes in cricket market with the sponsorship of Indian cricket team.Mark Parker replaces Perez as CEO. Nike and Apple jointly launched Sports kit Nike+iPod for runners. With this kit runners are enable to monitor and log runs. Nike introduces AF25. Nike signed Derek Jeter. Nike introduces a new technology shoes ‘Flywire’ made up of thin wires of vectran fibers. These shoes are stronger than steel. Luarlite Foam another creation of Nike is made up of Lunar Foam a material established by NASA that makes shoe shock absorption with slight weight. In year 2010, Many Division I universities wear The Nike Pro Combat jersey collection.Dwyne Wade moves from One Nike subsidiary to another, switching from Converse to Jordan Brand. Nike employs more than 44,000 people worldwide in year 2012.Nike becomes NFL’s official supplier for apparels. In 2012, Nike introduces Flyknit.
Nike became the most valued brand among sports business in year 2014 with the brand value of $19 Billion. Nike signs a deal to become official apparel of NBA League 2017 in Year 2015.Nike raises its revenue target at $ 28 Billion in fiscal year-2015.In year 2017, Nike introduces the Hyper Adapt 1.0 which was inspired from the Air Mags. The Vaporfly 4% running shoe was introduced, inspired by the Breaking2 attempt to break the 2-hour marathon barrier.