-
1222
Nike is Founded
Nike was originally called Blue Ribbon Sports. It was founded by Bill Bowerman who was a track and field coach at University of Oregon. His former student Phil Knight also helped found the company. -
First Retail Outlet
The first retail outlet was opened on Pico Boulevard in Santa Monica California. The sales were -
Nike Shoe Brand Launched
Nike officially becomes Nike and is no longer called Blue Ribbon. Phil wanted to name in "Dimension 6," but Bill was inspired by a Greek Goddess of victory named Nike. -
Swoosh Invented
They wanted a student from Portland University to create the logo. Carolyn Davis designed the Nike Swoosh. She got paid $2/ hour reviving $35 total. Phil din't love it at first, but it grew on him and he offered her 500 stock shares worth over $1 million today -
"Waffle" Sole Design Invented
While thinking over breakfast on a way to give running shoes more traction, the coach saw the grooves in the waffle his wife made him and wondered what it would look inverted. He came up with the idea to create the sole of a tennis shoe like a waffle to create traction. -
First Sports Figure Endorsement
Ilie Nastaste was the first professional sports figure to be endorsed by Nike. He was a famous tennis player, now in the tennis hall of fame. He had many fines, suspensions, and other behavior issues, but Nike still signed with her -
Nike Signs with Michael Jordan
Before Jordan's first pro season Nike got an endorsement with him. Jordan had never worn a Nike show before, but agreed to sign with them. They offered him $500,00 for 5 years, 2 Mercedes, and custom shoes -
Slogan "Just Do It"
A campaign was advertised and the company continued to grow. The slogan was apparently inspired by the last words of American murderer Gary Gilmore before the firing squad, "Let's do it." -
First Nike-town Store
The first Nike-town Store opened in Portland Oregon. It was opened to pay a tribute to company spokespersons. The store also offered customers with access to their products -
Nike Signs With Tiger Woods
Tiger woods signed a 5 year deal with nike for $40 million. They have been doing deals for 17 years and in 2013 he recently signed again. Tiger woods has gone through some things like a sex scandal, but Nike remained loyal to him and it paid off. -
Higher Wages
In the face of widespread protest, Nike raises the minimum age of its workers, increases monitoring, and adopts U.S. OSHA clean-air standards in overseas factories. Nike was getting bad publicity with the way the oversea workers were being treated and had to make improvements to bring sales up. -
Bill Bowerman Passes
He was 88 when he died in a retirement home in Oregon. He did an interview the week before he passed and was asked if he feared death. His response was, “Well, they might as well recognize it’s going to happen. Me? I’m well beyond the average age, so every day is a bonus, and I’m grateful for it." This was very tragic for everyone in the Nike company and his family -
Nike Acquires Hurley
Nike bought Hurly from its founder Bob Hurly. It was a $36.4 billion deal, but Nike did not release the terms of the deal. This was very big for Nike because they did not have any exposure no skateboarding, snowboarding, and surfing gear. With the help of Bob they had lots new merchandise to work with -
Nikes Signs Two Elite Basketball Players
Nike signed Lebron James a month before Kobe Bryant. The contract with Lebron was valued at $90 million in 7 years. Kobe paid $8 million to get out his deal with Adidas to sign with Nike -
Nike buy Converse for $309 million
Buying the company created a more dynamic customer base. Nike loved Chuck Taylor's shoe designed and was thrilled to bind the two companies. -
Phil Knight Steps Down
Phil Knight seeped down from co-founder at age 76. He said Nike was more than just a job it was his life and he was planning on staying involved. He also left a spot on the board to his son Travis. -
Vietnam becomes #1 Producer
Nike orginally produced their shoes in the US but soon they outsourced the work to factories in China. In 2010 Vietnam became Nike's Largest Shoe producer out producing China and indonesia. -
Nike becomes offical supplier to NFL
The NFL signed a 8 year contract with Nike. All NFL uniforms and sideline apparel would be Nike. There was an issue in the 2017-2018 season when some uniforms started ripping, but new material was made. -
Nike becomes official supplier for NBA
It was a $1 billion deal. Like the NFL the contract lasted 8 years. Nike made uniforms for the team USA Olympic team and proceeded to work with the NBA. -
Nikes Revenue is $28 billion
Nikes president Mark Parker said they were ahead of schedule for revenue. He said they should hit $50 billion by 2020
