If you are a sports enthusiast and collecting Nike merches is your favorite go to activity, here are a few facts that you should know about Nike. Nike is one of the frontier global flag bearers in the sports gear industry. With Air Jordan ruling the planet,
Nike is indeed the iconic star in the world of sports apparels and fashion. Flaunting one of the most shimmery celebrity endorsement with top athletes such as Tiger Woods, Le Bron and Serena Williams, the brand continues to be in the limelight.
Not only because of celebrity endorsements, but it is also known for its amazing relationship with the consumers. With tech savvy marketing techniques on the go, Nike has been really acing the game.
Here are the top reasons for the unparalleled success of Nike over the years. It was founded in 1962 with a visit by Phil Knight to Japan’s Onitsuka factory.
Inspired by the shoe production in this factory, Knight had decided to come up with innovations in the arena of sports shoes. They together created the sports shoe brand Blue Ribbon Sports. Later in 1971, they broke apart and the firm had its name changed to Nike.
Nike refers to the name of the Goddess of Victory in Greek. The famous logo of Nike – the Swoosh has currently become one of the trendiest business logos in the globe.
Nike was indeed a popular shoe brand but its success reached heights when it finally signed and collaborated with Michael Jordan in 1984.
Pumping life into the basketball shoe market is till date considered one of the biggest contributions of Nike in the gaming world. Jordan shoes have been a hub of controversy for the brand. However, the brand now thinks much more than just shoes. Nike has crucially cemented the elite sports genre of the athletic world. Ever since 1980, the brand has actively expanded and diversified its product catalog beyond footwear.
Here are some of the most iconic possessions by the brand that has elevated its position and worth in the industry:
In 1988 Cole Haan acquisition paved the way for its success. In 1990, the brand started with its retail chain expansion business. This enhanced shopping experience and allowed the ardent consumers to explore the full range of products from Nike. Further, the company acquired Canstar Sports in 1994.
The company’s marketing game gained a better momentum when it started with another wing of business : Investing in sports technology.
With wrist compasses and fitness apps on the go, Nike re-established itself as the strongest player in the game. In 2003, it acquired Converse and Umro in 2008. The final master stroke of Nike was the introduction of Nike Lab which specializes in innovative sports and fashion meet.
Nike is most celebrated for initiating a big time head for the sneaker culture in the world. Micchael Jordan as the face of Nike started this culture that turned out to be almost a radical evolution of sports footwear. Last year, the global economic news highlighted the sneakers market to be close to 2 billion USD. Research shows that a large part of it has been driven by Nike. Over the past years Nike has turned to be one of the most priced and respected world brands.
The rarest, most expensive and desirable sneakers are skillfully designed by the brand. In today’s world, owning a pair of Nike shoes has almost become a status symbol. Today the company has over 1096 retail stores all across the globe. This 56 years old company has now become one of the largest sports shoe manufacturers of the world with the core value of giving back to the community as much as possible.
What is it that keeps Nike relevant through so many decades?
Well, it is an ensemble of plenty of factors. Since day 1, Nike has managed to be the coolest brand for sportswear. This is not only because Michael Jordan endorses it, but because it has been producing such fabulous products through ages and keeping the marketing tactics top notch.
Nike has truly come along a long way from its beginning. Initially, the brand used to simply deal with designing shoes for the track and field athletes but look at it now – has got anything and everything that you would need to stay on the tracks. It promotes the spirit of sportsmanship. Being the top favorite of amateurs and professionals, the brand has crafted history and will continue to do so.
About Nike logo
The world-renowned Nike logo – known by many as the “swoosh” – is arguably one the most recognizable and iconic brand logos ever designed. Designed in 1971 by a graphic design student Carolyn Davidson, it. Nike co-founder Phil Knight was not initially impressed with the design but eventually chose it because he believed it would grow on him.
The Swoosh is a simple and elegant checkmark-like symbol that represents motion, speed, and power, aligning with Nike’s focus on athletic performance and innovation. The logo has one over the years stood for the brand excellence and athleticism.
The Nike name and logo are also associated with the Greek winged goddess of victory, Nike, further emphasizing the brand’s focus on triumph and success. The logo is typically displayed in a single color, often black or white, allowing for versatility in its application on various products and marketing materials.
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Challenges Faced by Nike
Controversial Labor Practices:
One of the earliest challenges Nike faced was criticism over its labor practices in the 1990s. Reports of sweatshop conditions in overseas factories tarnished the brand’s image. In response, Nike took decisive action, implementing strict guidelines for its suppliers and actively working towards improving working conditions. This commitment to ethical practices has not only rectified the brand’s reputation but has also positioned Nike as a leader in corporate social responsibility.
Competition and Innovation:
As the athletic apparel market became increasingly competitive, Nike had to continuously innovate to stay ahead. Rivals introduced new technologies and designs, putting pressure on the swoosh to keep up. Nike responded by investing heavily in research and development, leading to groundbreaking innovations such as the Flyknit technology and the iconic Air Max cushioning. By pushing the boundaries of design and performance, Nike not only retained its market share but also solidified its status as an industry trendsetter.
Nike has occasionally faced backlash for its marketing campaigns. The “What the Dunk” campaign in 2007, for instance, drew criticism for its controversial themes. However, the brand learned from these missteps and evolved its approach to marketing.
The revolutionary “Just Do It” campaign in the late ’80s and the recent collaboration with Colin Kaepernick are prime examples of Nike using its platform to address social issues and connect with consumers on a deeper level.
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Nike Through The Years
Founders Phil Knight and Bill Bowerman initially build BRS blue in Beaver, Oregon. After that company decided to change brand name which is now called “Nike”. The company functions as the distributor of Japanese shoemaker Onitsuka Tiger (now ASICS).
BRS decides to launch its own line of footwear, and the first shoe under the Nike brand, named the “Nike,” is introduced. Swoosh logo is also created by graphic design student Carolyn Davidson.
The company officially changes its name from Blue Ribbon Sports to Nike, Inc.
Nike goes public, and its initial public offering (IPO) takes place.
Nike signs basketball rookie Michael Jordan, and the first pair of Air Jordans is released, revolutionizing athletic shoe design.
The famous “Just Do It” advertising campaign is launched, solidifying Nike’s brand image.
Nike signs a 10-year, $200 million deal with the Brazilian soccer star Ronaldo, setting a new standard for athlete endorsements.
Nike introduces the Shox technology, featuring spring-like columns in the heel for improved cushioning and performance.
Even before playing his first professional game, LeBron James signs a 7-year, $ 90 million deal with Nike.
Nike acquires Converse, a historic American athletic shoe brand.
Nike introduces the Nike+ platform, combining footwear with technology to track running performance.
Nike signs a 10-year partnership with NFL to outfit all teams in the league with uniforms and apparel.
The self-lacing Nike Mag, inspired by the shoes featured in the movie “Back to the Future II,” is introduced.
Nike celebrates the 30th anniversary of the “Just Do It” campaign with controversial ads featuring Colin Kaepernick.
Amid the COVID-19 pandemic, Nike reports a surge in online sales, emphasizing the importance of its digital strategy.