Nike is one of the most iconic and recognizable brands in the world. The brand is well known and even famous for making athletic wear and sports equipment. Currently, Nike has been a dominant force in their sector. They made $34.4 billion in 2017 compared to other sports brands, such as Adidas and Puma, which made $23.6 billion and $4 billion respectively. They endorse household names in sports including: Michael Jordan, Cristiano Ronaldo, Wayne Rooney, Michael Crabtree, Kobe Bryant, Tiger Woods, at one point; LeBron James, along with many other notable athletes. However, all this prestige and distinction didn’t come from nothing.
The brand was created in Portland and was previously known as Blue Ribbon Sports in 1968. University of Oregon alumni, Phil Knight, founded the shoe store with track and field coach, Bill Bowerman. After a few years, they rebranded as Nike, naming their company after the greek goddess of victory. The name was thought of by their first employee, Jeff Johnson, and later, their distinguishable logo was created by Carolyn Davidson for $35. Today, that would be $200. No need to worry, she was fairly compensated later as Knight gave her some stocks worth a little over half a million dollars.
Nike’s successes are almost uncountable, the same can not be said for their losses. It seems as though Nike will certainly continue to dominate the world of sports for years to come.