Nike
In 1958 the beginning of NIKE Inc. came about when Coach Bill Bowermen and business student Phil Knight, both from the University of Oregon, felt the need for a better athletic shoe. Through Bowermen's athletic experience and Knight's business background they designed and tried to sell their model of the perfect running shoe. None of the major companies trusted the engineering or demand for the new sneaker and therefore would not manufacture the item. In 1964 Bowerman and Knight used their own money to start Blue Ribbon Sports company. They convinced Onitsoda Tiger to manufacture their sneakers, which they sold from their cars at track meets. Four years later Blue Ribbon Sports was changed to, the now famous, NIKE, which was named for the Greek Goddess of victory. In that same year, the NIKE "swoosh" logo was designed by Carolyn Davidson, for which she was then paid only $35. The time came when the owners decided that NIKE could survive on its own. NIKE separated itself from Onitsoka Tiger in 1972. It was in this year that NIKE convinced Olympic marathon runners to wear NIKE sneakers for their Olympic event. Later, NIKE was able to brag that their sneakers won four of the top seven places in this event. T
Message to Stock HoldersNIKE believes that each sport requires different athletic equipment, especially shoes. The economic atmosphere in Western Europe is the worst in NIKE's 13 years. The popularity of running was declining rapidly and, therefore, NIKE expanded into a new domain. The $1 billion mark was achieved in 1990 and during the six year period referred to above, total assets have increased 917%. NIKE is now international with seven Niketowns in the US, plus one in the UK, Germany, and Japan. The Company surpassed the $2 billion level in total assets for the first time during the fiscal year 1993. Nike also sells plastic products to other manufactures through its wholly-owned subsidiary, Tetra Plastics, Inc. " During the six year period, revenues have increased 348%. It is designed to improve the long term profitability of the company and of cooperating retailers. Domestically, total revenues grew over $4 billion over the past six years. In the turn of the next decade, NIKE began to expand to more than just sneakers. They believe that there is a lot of upside potential in both the US and abroad and the management understands that it is their responsibility to reach this potential. In 1993, the company acquired Sports Specialties, Inc.
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