For example, the billboard company Outdoor Systems Inc. The company held about 30 percent of the U. Advertising heavily, the company took a commanding lead in sales to young people to claim 23 percent of the overall athletic shoe market. Nike announced in September of that year that it would buy about ten percent of Fogdog Inc. By 1979, Nike was the leading athletic shoe manufacturer in the United States, controlling half of this quickly expanding market. For Knight and his top managers, however, this wasn't enough —they wanted to make Nike the world's leading athletic apparel and equipment company. Junior Amateur when I was 15.
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. At this time, the company introduced its Swoosh trademark, and the brand name Nike, the Greek goddess of victory. This growth was fueled in part by aggressive promotion of the Nike brand name. The Board has the responsibility to ensure that in good times, as well as difficult times, management is capably executing its duties. To keep up with demand, the company opened new factories, adding a stitching plant in and additional overseas production facilities in and. 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. The most active stock was Apple Inc.
In response, Nike adopted a series of measures to change its sliding course. In the , Nike products are sold through about 22,000 retail accounts; worldwide, the company's products are sold in more than 160 countries. 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. Strangely, this became its own kind of endorsement. In foreign sales, the company had mixed results. The award-winning result relied as much on happenstance as on the script.
Most troubling for Nike was its poor image. Wise LeBron, an old-timer, bickered with the slick All Business LeBron. Principal Subsidiaries Cole Haan Holdings Incorporated; Nike Team Sports, Inc. And the rest as they say, is history. Previous legendary Nike advertising campaigns had featured the biggest sports celebrities of the day, from to Michael Jordan to , a tactic that usually lured young people, teenagers in particular, to the brand. In the United States, meanwhile, Nike had launched a variety of philanthropic programs by the late 1990s. Bowerman and Knight believed Prefontaine projected the perfect Nike image.
Once combined, adidas and Reebok captured about 20 percent of the U. Retail items include Pro Cut and Authentic game jerseys and shorts, shooting shirts, practice wear, and warm-ups. The Committee may permit attendance at meetings by management and such ex officio members as the Committee may determine appropriate or advisable from time to time. It also became the foundation for how we conduct business - with integrity and a commitment to the highest ethical standards. European distributorships were lined up in 1978. Advertising heavily, the company took a commanding lead in sales to young people to claim 23 percent of the overall athletic shoe market. Nike was not blind to this trend.
Nike entered into this massive marketing plan with a large supply of financial reserves, a highly polished image, and a strong foothold in both U. At company headquarters in Oregon, Nike has a giant red swoosh on the outside of its building instead of its name. Olympic Trials, the first of many marketing campaigns that would seek to attach Nike's name and fortunes to the careers of well-known athletes. In 1974 Nike introduced the Waffle Trainer, featuring Bill Bowerman's unique waffle outsole, which became the best-selling training shoe in the country. These young men tended to be loyal consumers, aligning themselves with a player and sportswear brand.
International sales were expanded when markets in were opened in 1977 and in the following year. Knight was convinced that Japanese running shoes could become significant competitors for the German products that then dominated the American market. All quotes are in local exchange time. Because there was little opportunity for further growth in the U. In a move that would prove to be the key to the company's recovery, in 1985 the company signed basketball player Michael Jordan to endorse a new version of its Air shoe, introduced four years earlier. Nevertheless, by 2005 the public at large was just getting to know James, and Nike needed to help that process along. Denson, as copresidents with responsibility for day-to-day operations.
. In the 2002 Boston Marathon, sponsored by adidas, Nike stole its rival's thunder by blanketing area subway stops with advertisements and by spray painting swooshes on the pavement at the finish line. While these acquisitions were unfolding in the United States, Nike was pushing hard into overseas markets, and by 2003 international sales exceeded domestic sales for the first time. Another spot showed a group of uniformed players in a dentist's office, kicking a ball around aimlessly to the off-camera sound of a dentist's drill. The company was founded by William Jay Bowerman and Philip H. Nike Culture: The Sign of the Swoosh. Nike continued its promotional activities with the opening of Athletics West, a training club for Olympic hopefuls in track and field, and by signing tennis player to an endorsement contract.