How The Brand "Nike" Shoes Started ?

Hello friends, today I'm going to discuss about a popular Shoe brand - Nike. It is basically an American Multinational Company and is the largest company in the world to sell sports shoes. Apart from shoes, it also manufactures many other sports essentials like t-shirt, hats, glasses, gloves etc. So let's know about the success story of Nike from the beginning.

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The story starts in 1962 when the MBA student of Stanford University - Phil Knight thought of a business. While. pursuing his MBA he was given an assignment to write on small business and marketing plan. As he was a lover of sports, he wrote on the business of sports shoes. On completion of the assignment, he got the idea to turn his strategies into reality and so he flew away to Japan in order to fulfill his wishes. He then met the owner of Tiger shoes and expressed his desire to take up the rights to sell the tiger shoes. On being asked what he was, Phil said that he was the owner of Blu Ribbons Company, which actually didn't exist in real at that time and only remained in his mind. 

Phil then brought the tiger shoe sample to Bill Bowerman, a coach and he liked the sample as well as his strategy. From there, Bill became his partner. In 1964, both established a company named Blue Ribbons Sports. Then, they ordered 300 pairs of Tiger shoes and started to sell those in front of a school. In the first year, they earned almost 8000 dollars by selling these. 

The next year their profit marched to 20,000 dollars. After 2 years, finally they managed to open their first store in California. Expanding their distribution business, they opened another store at Massachusetts and then their contract with Tiger ended. So, they decided to make their own footwear.

In May 1971, the name Blue Ribbons Sports was officially changed to Nike. Around 1980, Nike had included tracksuits, clothes etc to the business. Gradually Nike occupied 50% of the market of the U.S.A and in 1984, the basketball player Michael Jordan was chosen for the promotion of the brand. Later in 2005, Nike became the official kit sponsor of Indian teams. By 2015, the revenue of Nike increased to 30 billion dollars. And Nike, still continues to rule the fashion.

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How The Brand "Nike" Shoes Started ? How The Brand "Nike" Shoes Started ? Reviewed by Ashish Kumar on October 26, 2018 Rating: 5

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