In order to meet this objective, Nike identifies a number of smaller aims and objectives. By 1979, Nike was the leading athletic shoe manufacturer in the United States, controlling half of this quickly expanding market. The company sought to expand its visibility by having its shoes worn by prominent athletes, including tennis players Ile Nastase and. The company had shifted its overseas production away from Japan at this point, manufacturing nearly four-fifths of its shoes in and Taiwan. Let the people see exactly what's happened over the twelve years of my career.
At this time, the company introduced its Swoosh trademark, and the brand name Nike, the Greek goddess of victory. Nike joined the trend with its Nike Town stores, which featured eye-catching displays on the ground floor and escalators that led to merchandise displays on the upper floors. Because Nike al ready held a part of the low-priced athletic shoe market, the company set its sights on the high-priced end of the scale in Japan. Bowerman's first eureka moment for footwear innovation came in 1971, when he and his wife were making waffles for breakfast: It sparked an idea for a grooved pattern on the sole of trainers to help athletes grip running tracks. They both enjoyed sports, especially running and jogging, and believed athletes could achieve greater balance and speed with better shoes. The company began eyeing overseas markets and predicted ample room to grow in Europe. The following year, the company rented its first retail space, next to a beauty salon in Santa Monica, , so that its few employees could stop selling shoes out of their cars.
Starting in 2002 the company also concentrated on building an extensive program to address the perennial charges of labor exploitation. Given the slowing of growth in the U. Sweeney in the Cleveland Plain Dealer. In 1978 the company changed its name to Nike, Inc. Further, they had to maintain their integrity and conviction in the face of intense opposition. Only Nike's innovative Air athletic shoes provided a bright spot in the company's otherwise erratic progress, allowing the company to regain market share from rival. After Knight earned his business degree at the University of Oregon, he attended graduate school in at.
The company also balances these profit-driven goals with a number of social and sustainable aims, including cutting water use, reducing waste and strengthening communities. Three days later Woods announced that he was turning professional. The Waffle outsole transformed the running world and soon after, Nike Air evolved Nike's revolutionary impact on sports. Comparative statistics provided a sense of the phenomenon created by Woods. The slogan spoke to personal as well as athletic goals. In this instance Nike realized that insecurity over success continued past the age of 18. Once combined, adidas and Reebok captured about 20 percent of the U.
The excitement generated by the ads made Nike the fashion sensation of the year and the company quickly regained the athletic shoe market from rival Reebok. Woods attracted legions of new fans to golf, and the grandstands at tournaments in which he competed began to appear more youthful and ethnically diverse. Nike continued expansion of its high-profile Nike Town chain, opening outlets in , , in spring of 1993 and Costa Mesa, California, later that year. In the United States, plans for a new headquarters on a large, rural campus were inaugurated, and an East Coast distribution center in Greenland, , was brought on line. By 1979 Nike sold almost half the running shoes bought in the United States, and the company moved into a new world headquarters building in Beaverton, Oregon. Johnson, to be his successor.
In addition, the company marketed more than 200 different items of clothing. In addition to its shoe business, the company began to make and market a line of sports clothing, and the Nike Air shoe cushioning device was introduced. Knight, Nike employees, and hundreds of athletes past and present mourned the loss of Bowerman, a vital force in creating Nike and its one-of-a-kind products. Nike was struggling at the time, but Jordan fit the strategy on which Philip Knight had founded his company—to market products in the glow of the limelight surrounding maverick sports stars. That same year, however, a new line was released that would boost the company. Nike's headquarters are located near Beaverton, Oregon, and employs more than 44,000 people around the world. In 1990 the company sued two competitors for copying the patented designs of its shoes, and found itself engaged in a dispute with the U.
Following these moves, Nike announced a drop in revenues and earnings in 1987, and another round of restructuring and budget cuts ensued, as the company attempted to come to grips with the continuing evolution of the U. By the following year, when the jogging craze in the United States had started to wane, half of the running shoes bought in the United States bore the Nike trademark. The company was so confident of Norman's value that it had deleted the Reebok logo from his line of clothing, thus highlighting Norman's shark logo. The company agreed to allow outside representatives from labor and human-rights groups to go with the independent auditors on inspections of factories in Asia. Nike is committed to working with and providing reasonable accommodation to individuals with disabilities. Nike's sweatshops employ mostly young women and girls; in fact they are 90% of the work force. Over the past decade, tens of thousands of students, people of faith, activists, and consumers have demanded that retailers take responsibility to clean up sweatshops such as Nike.
With the revenues generated by the stock sale, the company planned continued expansion, particularly in the European market. The city's locations were available only during weekend mornings. Kid LeBron bounced around with earphones on, while Athlete LeBron practiced his athletic moves. Based in Costa Mesa, Califo rnia, Hurley was a designer and distributor of action sports apparel and footwear for surfing, skateboarding, and snowboarding. Whether for men or women, girls or boys, top athletes or beginners, Nike has shoes, apparel, and equipment for everyone. By 1982 the company's line of products included more than 200 differe nt kinds of shoes, including the Air Force I, a basketball shoe, and its companion shoe for racquet sports, the Air Ace, the latest models in the long line of innovative shoe designs that had pushed Nike's e arnings to an average annual increase of almost 100 percent. In 1982 the company outfitted Aston Villa, the winning team in the English and European Cup soccer championships, giving a boost to promotion of its new soccer shoe.
In addition to its wide range of core athletic shoes and apparel, the company also sells Nike and Bauer brand athletic equipment, Cole Haan brand dress and casual footwear, and the Sports Specialties line of headwear featuring licensing team logos. Th e company was poised for greater growth, but Knight was frustrated by a lack of capital to pay for expansion. Nike next bought Converse Inc. Woods's appeal to advertisers was manifold: he was said to be the most gifted golfer in the sport's history, he was handsome and articulate, he was young, and he was multiracial. 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 an actual company, and this hypothetical firm eventually grew to become Nike, Inc. In addition to its shoe business, the company b egan to make and market a line of sports clothing, and the Nike Air s hoe cushioning device was introduced. With the use of Tiger Woods, Nike's sales increased as if it was Nike using Michael Jordan all over again.
University of Oregon track star Steve Prefontaine acted as Nike's first sports star spokesperson, handing the torch to other Jordan precursors, including tennis stars and Andre Agassi and basketball star. Into the Future In the new century, Nike continues to grow. In all four spots Woods offered seemingly simple advice, with the punch line hinging on the impossibility of even the best golfer re-creating his feats. In December 1980, Nike went public, offering two million shares of stock. Rather than divert attention away from this issue, Riswold harnessed its power to Nike's advantage.