By 1965 the fledgling company had acquired a full-time employee and sales had reached $20,000. Bowerman's efforts first paid off in 1968, when a shoe known as the Cortez, whic h he had designed, became a big seller.īRS sold 1,300 pairs of Japanese running shoes in 1964, its first yea r, to gross $8,000. Innovation in running shoe design eventually would become a corn erstone of the company's continued expansion and success. Bowerman had long been experime nting with modified running shoes for his team, and he worked with ru nners to improve the designs of prototype Blue Ribbon Sports (BRS) sh oes. Knight's one-man venture became a partnership in the follow ing year, when his former track coach, William Bowerman, chipped in & #36 500 to equal Knight's investment.
In the course of setting up his agreement with Onitsuka Tiger, Knight invented Blue Ribbon Sports to satisfy his Japanese partner's expectations that he represented a n actual company, and this hypothetical firm eventually grew to becom e Nike, Inc.Īt the end of 1963, Knight's arrangements in Japan came to fruition w hen he took delivery of 200 pairs of Tiger athletic shoes, which he s tored in his father's basement and peddled at various track meets in the area. Knight was convinced that Japanese runnin g shoes could become significant competitors for the German products that then dominated the American market. Traveling in Japan after finishing business school, Knight g ot in touch with a Japanese firm that made athletic shoes, the Onitsu ka Tiger Co., and arranged to import some of its products to the Unit ed States on a small scale. Knight, a Stanford University business graduate who had bee n a member of the track team as an undergraduate at the University of Oregon. Nike's precursor originated in 1962, a product of the imagination of Philip H. The ubiquitous presence of the Nike brand and its Swoosh trademark led to a backlash against the company by the late 20th century, parti cularly in relation to allegations of low wages and poor working cond itions at the company's Asian contract manufacturers. Nike has relied on consistent innovation in the design of its products an d heavy promotion to fuel its growth in both U.S. The firm also sells Nike and Bauer brand ath letic equipment Hurley surfing, skateboarding, and snowboarding appa rel and footwear and Cole Haan brand dress and casual footwear. and sells under the brands Starter, Shaq, and Asphalt in the discount retailer channel through another subsidiary, Exeter Brands Group LLC. In addition to its wi de range of core athletic shoes and apparel marketed under the flagsh ip Nike brand, the company also sells footwear under the Converse, Ch uck Taylor, All Star, and Jack Purcell brands through wholly owned su bsidiary Converse Inc.
Nearly all of the items are manufactured b y independent contractors, primarily located overseas, with Nike invo lved in the design, development, and marketing. Both domestically and overseas Nike operates retail stores, including Nike Towns and factory outlets. 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. (Nike) has grown to be the world's largest marketer of athletic footwear, holding a g lobal market share of approximately 37 percent. Founded as an importer of Japanese shoes, NIKE, Inc.
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