That month prosecutors filed a lawsuit that accused Ronaldo of defrauding the…. [108] In response, some people set fire to their own Nike-branded clothes and shoes or cut the Nike swoosh logo out of their clothes, and the Fraternal Order of Police called the advertisement an "insult";[109][110][111] others, such as LeBron James,[112] Serena Williams,[113] and the National Black Police Association,[111] praised Nike for its campaign. Sources for this criticism include Naomi Klein's book No Logo and Michael Moore documentaries. The company takes its name from Nike, the Greek goddess of victory. In 1990s, Nike has received unending criticism[94] for its use of sweatshops. As of July 23, 2020, Knight was ranked by Forbes as the 26th richest person in the world, with an estimated net worth of US$39.2 billion. Similar to Takahashi, Acronym co-founder Errolson Hugh’s relationship with Nike is two-fold: as an individual and as a brand. 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. [133] The Cannes Advertising Festival has named Nike its Advertiser of the Year in 1994 and 2003, making it the first company to receive that honor twice. The plate may be in more than one part but those parts must be located sequentially in one plane (not stacked or in parallel) and must not overlap". Nike and its Jordan brand sponsored 85 men's and women's basketball teams in the NCAA tournament. Nike has been the sponsor for many top ranked tennis players. [103][104][105], Appleby documents detail how Nike boosted its after-tax profits by, among other maneuvers, transferring ownership of its Swoosh trademark to a Bermudan subsidiary, Nike International Ltd. Nike paid US$250,000 to Capitol Records Inc., which held the North American licensing rights to the recordings, for the right to use the Beatles' rendition for a year. "What we don't need is a major corporation like Nike, which tries to appeal to the younger generation, out there giving credence to the drug issue," Menino told The Boston Herald. [47], In March 2020, Nike reported a 5% drop in Chinese sales associated with stores' closure due to the COVID-19 outbreak. According to Robinson, Kaepernick signed a "star" contract that puts him level with a "top-end NFL player" worth millions per year plus royalties. [146], Nike is a major sponsor of the athletic programs at Penn State University and named its first child care facility after Joe Paterno when it opened in 1990 at the company's headquarters. Nike has been criticized for contracting with factories (known as Nike sweatshops) in countries such as China, Vietnam, Indonesia and Mexico. Nike was founded in 1964 as Blue Ribbon Sports and initially operated as a distributor for the Japanese shoemaker Onitsuka Tiger (now known as Asics). [169], Nike maintains strong ties, both directly and through partnerships with Phil Knight, with the University of Oregon. [12] The company initially operated in Eugene, Oregon as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Knight's automobile. They stated that the people who designed it were skateboarders and Minor Threat fans themselves who created the advertisement out of respect and appreciation for the band. In 1966, BRS opened its first retail store at 3107 Pico Boulevard in Santa Monica, California. The deal required all franchise team members to wear jerseys and shorts with the Swoosh logo, beginning with the 2017/18 season. Nike Founder. [37] The company acquired Starter in 2004[38] and soccer uniform maker Umbro in 2007.[39]. Nike also owned Bauer Hockey (later renamed Nike Bauer) from 1995 to 2008, and previously owned Cole Haan, Umbro, and Hurley International. He was a track enthusiast and worked to improve the performance of his athletes. 89 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[8]. In late June 2005, Nike received criticism from Ian MacKaye, owner of Dischord Records, guitarist/vocalist for Fugazi and The Evens, and front man of the defunct punk band Minor Threat, for appropriating imagery and text from Minor Threat's 1981 self-titled album's cover art in a flyer promoting Nike Skateboarding's 2005 East Coast demo tour.[138]. Our editors will review what you’ve submitted and determine whether to revise the article. Under that bill's terms, Beaverton is specifically barred from forcibly annexing the land that Nike and Columbia Sportswear occupy in Washington County for 35 years, while Electro Scientific Industries and Tektronix receive the same protection for 30 years. At Nike, we serve athletes...billions of them. People don't believe me. Nike Air Max is a line of shoes first released by Nike, Inc. in 1987. In April 2014, one of the biggest strikes in mainland China took place at the Yue Yuen Industrial Holdings Dongguan shoe factory, producing amongst others for Nike. However, due to harsh criticism from some organizations like CorpWatch, Nike has disclosed information about its contract factories in its Corporate Governance Report. [120] Nike's decision was praised by others due to the use of the flag by white nationalists,[119] but the Anti-Defamation League's Center on Extremism has declined to add the flag to its database of "hate symbols. From the late 2000s into the 2010s, Nike Elite basketball socks began to be worn as everyday clothes by hip-hop fans and young children. What was born was the “waffle tread” we still see on Nike’s iconic footwear today. [45] The split will be the seventh in company history. In addition to inhalation, dermal exposure was the biggest problem found. [157] In January 2013, Nike signed Rory McIlroy, the then No 1 golfer in the world to a 10-year sponsorship deal worth $250 million. They opened their first retail outlet in 1966 and launched the Nike brand shoe in 1972. His first shipment of Tiger shoe samples arrive in January 1964. At the same time, the company's online sales grew by 36% during Q1 of 2020. October 15, 2000", More than ten thousand workers stage strike at massive Dongguan shoe factory, Yue Yuen shoe factory workers' strike at Dongguan plants continues, Yue Yuen strikers vow to continue until benefit contribution deficit paid in full, 'Paradise papers' expose tax evasion schemes of the global elite, "Offshore Trove Exposes Trump-Russia Links And Piggy Banks Of The Wealthiest 1 Percent", International Consortium of Investigative Journalists, "How NikeStays One Step Ahead of the Regulators: When One Tax Loophole Closes, Another Opens", "Nike Falls as Critics Fume on Social Media Over Kaepernick Deal", "Colin Kaepernick Named Face of Nike's 30th Anniversary of 'Just Do It' Campaign", "People Are Already Burning Their Nikes in Response to the Colin Kaepernick Ad", "People are destroying their Nike shoes and socks to protest Nike's Colin Kaepernick ad campaign", "The National Black Police Association Is In Full Support Of Nike's Colin Kaepernick Ad", "LeBron 'Stands with Nike' in Support of Colin Kaepernick's Campaign", "Serena Williams supports Nike's decision to endorse Colin Kaepernick", "College of the Ozarks drops Nike, will 'choose country over company, "Nike Orders Rose in Four-Day Period After Kaepernick Ad Debut", "Nike hit by conservative backlash over 'racist trainer, "Nike Nixes 'Betsy Ross Flag' Shoe After Kaepernick Intervenes", "Nike pulls Fourth of July trainers after Colin Kaepernick 'raises concerns, "Nike 'pulls Betsy Ross flag trainer after Kaepernick complaint, "Nike Pulls 'Betsy Ross Flag' Sneakers After Kaepernick Complaint", "Nike fans the flames of the culture war", "Pence backs Hong Kong protests in China speech, slams NBA and Nike", "World Athletics modifies rules governing competition shoes for elite athletes", "Nike's Vaporfly shoes changed running, and the track and field world is still sifting through the fallout", "Health Survey of Workers Exposed to Mixed Solvent and Ergonomic Hazards in Footwear and Equipment Factory Workers in Thailand", "W+K Finds Its First Ads Ever, for Nike, on Dusty Old Tapes", "Nike's Knight Is Advertiser of the Year", "The Media Business – Advertising – Addenda – Nike Spot Wins An Emmy Award", "A Nike Poster Upsets Fans of the Punk Rock Band Minor Threat in a Major Way", "Nike courts controversy, publicity with drug-themed skater shirts", "Nike Inc. (NYSE:NKE) Facing Slogan Backlash", "The Hornets will be the only NBA team to have jerseys licensed by Jumpman", "Fire on the Track - The Steve Prefontaine Story - Part 1", "23 years later, Air Jordans maintain mystique", "Joe Paterno's Name Removed From Child Development Center at Nike Headquarters", "Jogadores de Futebol Patrocinados pela Nike", "Nike offers further backing for Asian soccer", "Premier League: Sportswear giants Nike to end Manchester United sponsorship", "Manchester United sign record 10-year kit deal with Adidas worth £750m", "LFC announces multi-year partnership with Nike as official kit supplier from 2020-21", https://news.nike.com/news/the-history-of-nike-tennis, "Nike welcomes Tiger Woods back to the Masters with ad featuring his greatest hits", "Rory McIlroy, Nike and the $250m, 10-year sponsorship deal", "Sources: NBA, Nike have near-$1B apparel deal", "Nike Zoom Kobe 4 Protro 'White/Del Sol' POP Returns May 24 On SNKRS", "Vince Carter Nike Shox BB4 Raptors PE | SneakerNews.com", "The story behind Paul George's signature sneaker", "Nike stocks fall after basketball prodigy touted as the 'next LeBron James' blows out his sneaker", "Oregon Ducks add orange to their Nike uniform repertoire for Colorado game", "The Big Ten and Pac-12 postponed the college football season. But I saw Bowerman made them from the waffle iron, and they were mine". [134], Nike also has earned the Emmy Award for best commercial in 2000 and 2002. Country: USA. The company was founded by Bill Bowerman and Phil Knight in 1972 and is headquartered in Beaverton, Oregon. According to the history of Nike Inc., it was founded in 1964 through the very first order of 300 pairs of shoes. Addresses Workplace Behavior Complaints", "Nike Taps EBay Veteran John Donahoe to Succeed Parker as CEO", "Nike confirms that it is no longer selling its products on Amazon", "Hockey Fan, and Investor, Buys Bauer From Nike", "Bob Hurley: Success built on everyone's inner surfer", "Iconix Brand Buys Nike's Umbro Soccer Unit for $225 Million", "After Umbro, Nike Turns to Cole Haan Sale", "Alcoa's CEO Is Remaking the Industrial Giant", "Nike Fiscal 2nd-Quarter Profit Jumps 40 Percent", "What Nike's Two-For-One Stock Split Means for the Dow", "Nike surges after beating on earnings and announcing $15 billion in buybacks (NKE) | Markets Insider", "Nike turns to digital sales during China shutdown", "Nike launches cricket shoe Air Zoom Yorker", "Nike Air Zoom Control II FS Futsal Shoes at Soccer Pro", "Devices That Tell On You: The Nike+iPod Sport Kit", "Latest materials improve sportswear performance", "Factbox: Nike's Vaporfly running shoes and tumbling records", "Nike Vaporfly Shoes Won't Be Banned From Olympics", "Nike Vaporfly. [153] Since the start of the 2015–16 season, Adidas has manufactured Manchester United's kit as part of a world-record 10-year deal worth a minimum of £750 million. "[121], U.S. Vice President Mike Pence criticized Nike for "siding with the Chinese Communist Party and silencing free speech". The College of the Ozarks removed Nike from all their athletic uniforms in response. [15], By 1971, the relationship between BRS and Onitsuka Tiger came to an end. Its profits were not declared in Europe and came to light only because of a mostly unrelated case in US Tax Court, where papers filed by Nike briefly mention royalties in 2010, 2011 and 2012 totaling $3.86 billion. [172], In 2012, Nike is listed as a partner of the (PRODUCT)RED campaign together with other brands such as Girl, American Express, and Converse. Here's how we got here", "Behind Oregon's (Phil) Knight in shining armor", "Nike Pledges $13.5 Million to Help Renovate University of Oregon Track Facilities", "Oregon Embraces 'University of Nike' Image", "Nike Community Ambassadors | Nike Global Community Impact", Nike says Iran World Cup saga is 'misleading', https://en.wikipedia.org/w/index.php?title=Nike,_Inc.&oldid=995308911, Companies in the Dow Jones Industrial Average, Companies listed on the New York Stock Exchange, Multinational companies headquartered in the United States, Sporting goods manufacturers of the United States, Watch manufacturing companies of the United States, Pages with non-numeric formatnum arguments, Wikipedia pages semi-protected against vandalism, Articles with unsourced statements from January 2020, Articles lacking reliable references from January 2020, Articles lacking reliable references from April 2016, Articles with unsourced statements from November 2019, Creative Commons Attribution-ShareAlike License, This page was last edited on 20 December 2020, at 10:14. Blow-molding is debuted in the Air Max 93. The model was subsequently withdrawn after Colin Kaepernick told the brand he and others found the flag offensive because of its association with slavery. Let us know if you have suggestions to improve this article (requires login). [137] Capitol-EMI countered by saying the lawsuit was "groundless" because Capitol had licensed the use of "Revolution" with the "active support and encouragement of Yoko Ono, a shareholder and director of Apple Records.". It is correctly pronounced ‘ny-kee’ … In order to refocus its business lines, Nike began divesting itself of some of its subsidiaries in the 2000s. The components of the shoes are not the only thing that had major changes; starting April 30, 2020, "any shoe must have been available for purchase by any athlete on the open retail market (online or in store) for a period of four months before it can be used in competition". [96], As of July 2011, Nike stated that two-thirds of its factories producing Converse products still do not meet the company's standards for worker treatment. In 1982, Nike aired its first three national television ads, created by newly formed ad agency Wieden+Kennedy (W+K), during the broadcast of the New York Marathon. Particularly popular[citation needed] were the unisex spandex Nike Tempo compression shorts[75] worn for cycling and running, which had a mesh lining, waterproofing, and, later in the 2000s, a zip pocket for a Walkman or MP3 player.[76]. [156], Nike has sponsored Tiger Woods for much of his career, and remained on his side amid the controversies that shaped the golfer's career. As of 2020, it employed 76,700 people worldwide. Phil Knight was a runner and was enrolled in Bowerman’s track program. Around that time, Phil Knight had just gone through University of … Nike (MYSE, NKE) manufactures and distributes shoes, apparel, and accessories. The trainers were designed to celebrate Independence Day. Phil Knight: Famous for: founding Nike and changing the sports shoe industry. "[123], In 2007, New England-based environmental organization Clean Air-Cool Planet ranked Nike among the top three companies (out of 56) in a survey of climate-friendly companies. Philip Hampson Knight (born February 24, 1938), is an American billionaire businessman. [84], Nike have introduced a premium line, focused more on streetwear than sports wear called NikeLab. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight. They currently also make shoes, jerseys, shorts, cleats, baselayers, etc. From the late 1980s Nike steadily expanded its business and diversified its product line through numerous acquisitions, including the shoe companies Cole Haan (1988; sold in 2012) and Converse, Inc. (2003), the sports-equipment producer Canstar Sports, Inc. (1994; later called Bauer and sold in 2008), and the athletic apparel and equipment company Umbro (2008; sold in 2012). The company's goal is to raise and send funds, for education and medical assistance to those who live in areas heavily effected by AIDS. The buyer was Miles Nadal, a Canadian investor and car collector, who had just paid $850,000 for a group of 99 rare of limited collection pairs of sport shoes. [176], Coordinates: .mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}45°30′33″N 122°49′48″W / 45.5093°N 122.8299°W / 45.5093; -122.8299, This article is about the sportswear and apparel company. 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. [77] In 2012, Nike carried a commercial partnership with the Asian Football Confederation. [142] The brand took over for Adidas, who provided the uniforms for the league since 2006. The most recent additions to their line are the Nike 6.0, Nike NYX, and Nike SB shoes, designed for skateboarding. I don't care what all the billionaires say. The NikeTown chain stores, the first of which opened in 1990, pay tribute to these and other company spokespersons while offering consumers a full range of Nike products. [31], In October 2019, John Donahoe was announced as the next CEO, and succeeded Parker on January 13, 2020. [64] Limited edition sneakers and prototypes with a regional early release were known as Quickstrikes,[65] and became highly desirable items[66] for teenage members of the sneakerhead subculture. The city attempted to forcibly annex Nike's headquarters, which led to a lawsuit by Nike, and lobbying by the company that ultimately ended in Oregon Senate Bill 887 of 2005. In August 2014, Nike announced that they will not renew their kit supply deal with Manchester United after the 2014–15 season, citing rising costs. Featuring the new Vaporfly NEXT%", Aaliyah, Nino Brown and Freddy Kruger socks, "The Michael J. They continued the growth in the sport by signing more top players including: Ronaldo, Ronaldinho, Francesco Totti, Thierry Henry, Didier Drogba, Andrés Iniesta, Wayne Rooney and still have many of the sport's biggest stars under their name, with Cristiano Ronaldo, Zlatan Ibrahimović, Neymar, Harry Kane, Eden Hazard and Kylian Mbappé among others.[151]. The company was founded in 1964 and is headquartered in Beaverton, Oregon. [56], The Nike Vaporfly first came out in 2017 and their popularity, along with its performance, prompted a new series of running shoes. Carolyn Davidson, a student at Portland State University during the time Knight taught there, created the logo, attempting to convey motion in its design. [54] The Air Zoom Vomero running shoe, introduced in 2006 and currently in its 11th generation, featured a combination of groundbreaking innovations including a full-length air cushioned sole,[55] an external heel counter, a crashpad in the heel for shock absorption, and Fit Frame technology for a stable fit. Based out of Beaverton, Ore., the company is also parent to sunsidiaries the Jordan Brand, Converse, and Hurley. [28][29] He officially stepped down from all duties with the company on June 30, 2016. Nike produces a wide range of sports equipment. 2000 Introduction of the Shox athletic shoe technology. [163] Some have had signature shoes designed for them, including Kobe Bryant, Jason Kidd, Vince Carter and more recently LeBron James, Kevin Durant and Paul George, among others. [88], Nike's world headquarters are surrounded by the city of Beaverton but are within unincorporated Washington County. In fact, I didn't like the way they felt on my feet. [26] The first Nike retail store, dubbed Niketown, opened in downtown Portland in November of that year. [172], More recently, the corporation donated $13.5 million towards the renovation and expansion of Hayward Field. [116], In July 2019, Nike released a shoe featuring a Betsy Ross flag called the Air Max 1 Quick Strike Fourth of July trainers. Vietnam Labor Watch, an activist group, has documented that factories contracted by Nike have violated minimum wage and overtime laws in Vietnam as late as 1996, although Nike claims that this practice has been stopped. It is the world's largest supplier of athletic shoes and apparel[4] and a major manufacturer of sports equipment, with revenue in excess of US$37.4 billion in its fiscal year 2020 (ending May 31, 2020). Although Nike took action to curb or at least reduce the practice, they continue to contract their production to companies that operate in areas where inadequate regulation and monitoring make it hard to ensure that child labor is not being used.[98]. [35] The company sold Umbro in 2012 [41] and Cole Haan in 2013. The purchase price was the highest for one pair of sneakers, the previous record being $190,373 in 2017 for a pair of signed Converse shoes in California, said to have been worn by Michael Jordan during the 1984 basketball final of the Olympics that year. [122], On January 31, 2020, the World Athletics issued new guidelines concerning shoes to be used in the upcoming Tokyo 2020 Olympics. Part of Nike’s success is owed to endorsements by such athletes as Michael Jordan, Mia Hamm, Roger Federer, and Tiger Woods. [115] In the following three months, Nike reported a rise in sales. Today, the Steve Prefontaine Building is named in his honor at Nike's corporate headquarters. [106], In September 2018, Nike announced it had signed former American football quarterback Colin Kaepernick, noted for his controversial decision to kneel during the playing of the US national anthem, to a long-term advertising campaign. Nike began as Blue Ribbon Sports in 1964, founded by Phil Knight and Bill Bowerman. In 1996 the company created Nike ACG (“all-conditions gear”), which markets products for extreme sports such as snowboarding and mountain biking. Originally plain white or black, these socks had special shock absorbing cushioning in the sole[78] plus a moisture wicking upper weave. [114], During the following week, Nike's stock price fell 2.2%, even as online orders of Nike products rose 27% compared with the previous year. Bill Bowerman and Phil Knight founded Nike on January 25, 1964, as Blue Ribbon Sports (BRS). Yue Yuen did underpay an employee by 250 yuan (40.82 US Dollars) per month. [23] Wieden credits the inspiration for the slogan to "Let's do it", the last words spoken by Gary Gilmore before he was executed. This practice was in place for nearly 20 years. [59], The Nike brand, with its distinct V-shaped logo, quickly became regarded as a status symbol[60] in modern urban fashion and hip-hop fashion[61] due to its association with success in sport. [30], In a company public announcement on March 15, 2018, Nike CEO Mark Parker said Trevor Edwards, a top Nike executive who was seen as a potential successor to the chief executive, was relinquishing his position as Nike's brand president and would retire in August. He is the co-founder and chairman emeritus of Nike, Inc., and was previously chairman and CEO of the company. Nike shares (NKE) rose 0.6 percent to $78.75 in extended trading.[44]. [125] Some athletes, scientists, and fans have compared this to the 2008 LAZR swimsuit controversy. [14], In its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $8,000. Nike discontinued airing ads featuring "Revolution" in March 1988. [123] These updates came in response to criticisms concerning technology in the Nike Vaporfly running shoes, which had been submitted beginning around 2017–2018. [46], For the fiscal year 2018, Nike reported earnings of US$1.933 billion, with an annual revenue of US$36.397 billion, an increase of 6.0% over the previous fiscal cycle. 2004 [ 38 ] and soccer uniform maker Umbro in 2007 [ 38 and... Jordan '', lebron 's brand became massively popular created Nike shoes with his $ 39 billion net.! Featuring the new Vaporfly NEXT % '', lebron 's brand became popular. State sex abuse scandal Yuen did underpay an employee by when was nike founded yuan ( 40.82 US Dollars per! 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