The first Air Jordans hit stores in March 1985, selling at $65 a pair. It was nicknamed the "Moon Shoe" because it left craters in the dirt. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. Nike apologized to Muslims for any unintentional offense. The history of Nike goes back to 1963-64, when Phil Knight,a mid-distance runner, and Bill Bowerman, a track coach,set up a company called Blue Ribbon Sports, and began to import and sell high-tech running shoes from Japan. Omissions? PRODUCTS & ORDERS. Find Nike retail stores near you Just a few years ago, it seemed like the global battle between Nike and Adidas for sneaker dominance was all but over. Updated Nike debuted its signature "Just Do It" slogan in 1988. Knight had been teaching an accounting class there on the side, and he paid Davidson $35 for her work. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Verification email has been resent. Formula One champion Michael Schumacher presents his new Nike racing shoe in Cologne, Germany, in January 1996. That month prosecutors filed a lawsuit that accused Ronaldo of defrauding the…. Throughout its history, Nike has signed endorsement deals with some of the biggest names in sports, including Schumacher, Tiger Woods, Roger Federer and LeBron James. In the early 21st century Nike began selling sports-technology accessories, including portable heart-rate monitors and high-altitude wrist compasses. To help accomplish the goal, Chinese president Xi Jinping announced plans to expand the country’s “sport economy” to $850 billion by 2025, which would make it the world’s largest. U.S. sprinter Michael Johnson wears gold Nike shoes at the 1996 Olympic Games in Atlanta. Nike did not make the cost of the commercial public, and by the spring of 2002 the company had moved on to other, more product-focused campaigns. Nike did a variety of creative marketing techniques that would suggest Olympics, but never mention it in the advertisement. Chat with us 4 am - 11 pm PT 7 days a week. The "swoosh" was created in 1971 by Carolyn Davidson, a graphic design student from Portland State University in Portland, Oregon. Nike is proud to be expanding the Nike Community Impact Fund to Europe. © 2020 Cable News Network. Alan Levenson/The LIFE Images Collection/Getty Images. All Rights Reserved. Success! Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree.... …contract from the sportswear company Nike. PHOTO: Bowerman, right, meets with runner Steve Prefontaine after a race in Eugene, Oregon, in June 1970. Nike is the world market leader in athletic shoes and apparel and operates in more than 200 countries. Here is one of its new soccer cleats launched in New York for the 2014 World Cup. University of Oregon. PHOTO: Nike has been so successful by continual innovative ideas and timely investments that have resulted in Nike remaining a leading brand across the world as well as making huge profits every year. Nike footwear grew in popularity as the company continued … Nike’s first employee, Jeff Johnson chose the name ‘Nike’. PHOTO: Today Nike, Inc. dominates the global sports footwear market with a 38% market share. Edd Griffin/REX/AP. Knight poses for a photo in March 1994. Roland Weihrauch/AP. CNN Sans ™ & © 2016 Cable News Network. In the same year, it signed an endorsement contract with Romanian ATP tennis player Ilie Năstase. But perhaps the company's biggest boom came in the 1980s when it signed basketball star Michael Jordan to an endorsement deal. Nike and Adidas remain far ahead, however, not only on the world stage but also in China. Adidas AG (German: [ˈʔadiˌdas]; stylized as adidas since 1949) is a German multinational corporation, founded and headquartered in Herzogenaurach, Germany, that designs and manufactures shoes, clothing and accessories.It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike… The company also makes equipment for just about every sport. It was the start of many product endorsement packages that have become part of the growth of the Nike brand. The founders liked the idea of using Nike as a brand name and used it for the company's first athletic shoe. Nike emerged the clear winner. Between fiscal 2017 and fiscal 2019, the region’s revenues increased at a CAGR of 7.2%. Adidas has been unsuccessful in an attempt to expand its trademark three-stripe design in the EU after a court ruled it was not “distinctive” enough. According to Mintel, 20%of the U.S. athletic market is controlled by Nike. Moreover, he established his own successful “CR7” brand of products that included shoes, underwear, and fragrances. PHOTO: Under Armour is using the same strategy that worked for Nike in Europe. The name "Nike" comes from the Greek goddess of victory. Here, Bowerman watches some of his athletes train. In addition to individual athletes, Nike has signed apparel deals with major sports teams across the world, including London soccer club Arsenal. In fact, it takes a lot of research, hard work, and growth at home before a retailer can take that "go big, or go home" step. Last week he set the ambitious goal of increasing sales 40%, to $27 billion, by 2015. In 1996 the company created Nike ACG (“all-conditions gear”), which markets products for extreme sports such as snowboarding and mountain biking. Part of Nike’s success is owed to endorsements by such athletes as Michael Jordan, Mia Hamm, Roger Federer, and Tiger Woods. Founded in 1964 by University of Oregon track athlete Philip Knight and his coach Bill Bowerman, Nike has become a leading player in the athletic footwear and apparel industry. Formerly grounds of the 1928 Amsterdam Olympic Equestrian Games, the campus features fabulous sport facilities and running tracks. PHOTO: 1-800-806-6453 4 am - 11 pm PT 7 days a week. It had sold $70 million worth by May, according to ESPN's Darren Rovell. Signed basketball star Michael Jordan to an endorsement deal ago, it seemed like the global Sports footwear market a. Account exists, we 've sent an email with a 38 % market share first employee, Jeff chose! N'T want to buy products made Under abusive conditions ago, it signed endorsement... 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