Nike, Inc.

Nike, Inc. is the world's largest athletic footwear and apparel company, a publicly traded American multinational headquartered in Beaverton, Oregon. Founded in 1964 by Bill Bowerman and Phil Knight as Blue Ribbon Sports, Nike employs approximately 83,000 people and generates annual revenues exceeding $50 billion. The company's brand portfolio includes Nike, Jordan Brand, and Converse, with iconic products like Air Jordan, Air Max, and the Nike Air technology platform.

Nike's journey began in 1964 when Bill Bowerman, a track and field coach at the University of Oregon, and Phil Knight, a middle-distance runner and business student, founded Blue Ribbon Sports. The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger (now ASICS), with Knight selling shoes from the trunk of his car at track meets while Bowerman experimented with shoe designs, famously using his wife's waffle iron to create the prototype for the iconic Waffle sole that would revolutionize running shoe traction.

In 1971, the company officially became Nike, Inc., named after the Greek goddess of victory. The same year, the iconic "swoosh" logo was designed by Portland State University student Carolyn Davidson for just $35, representing one of the most valuable brand investments in business history. Nike signed its first major endorsement deal with distance runner Steve Prefontaine, establishing the company's commitment to partnering with elite athletes and authentic athletic performance.

The 1970s and 1980s marked Nike's transformation into a major athletic footwear company through technological innovations like Air cushioning technology, introduced in 1979, and the Waffle sole design that provided superior traction. The company's breakthrough moment came in 1984 when it signed a rookie basketball player named Michael Jordan, creating the Air Jordan line that would become one of the most successful footwear franchises in history and establish Nike's dominance in basketball culture and streetwear.

Nike went public in 1980, raising capital for expansion and marketing initiatives that would fuel the company's global growth. Throughout the 1990s and 2000s, the company expanded globally and strategically acquired complementary brands. Nike acquired Converse in 2003, bringing the iconic Chuck Taylor and other classic basketball shoes under its umbrella. The company also owned Hurley (acquired 2002, sold to Bluestar Alliance in 2019) and Cole Haan (acquired 1988, sold to Apax Partners in 2012) before streamlining its portfolio to focus on core athletic brands.

Under CEO Mark Parker (2006-2020), Nike continued to innovate in product technology, digital experiences, and sustainability initiatives while maintaining its position as the world's leading athletic footwear and apparel company. The company expanded into new categories including women's fitness, golf, and digital fitness through acquisitions like Fitbit integration and Nike Training Club apps. Parker's tenure saw Nike become a global cultural phenomenon beyond sports, with the brand influencing fashion, music, and youth culture worldwide.

In 2020, John Donahoe took over as CEO, bringing experience from technology and e-commerce companies to accelerate Nike's digital transformation. Donahoe focused on strengthening Nike's direct-to-consumer capabilities, digital platforms, and supply chain resilience during the COVID-19 pandemic. Under his leadership, Nike invested heavily in its digital ecosystem, including the Nike app, SNKRS platform, and Nike Training Club, while navigating supply chain disruptions and changing consumer behaviors.

In 2024, Nike appointed Elliott Hill as President & CEO, bringing deep company knowledge and experience from his previous roles as President of Consumer and Marketplace. Hill took leadership as Nike faced challenges including slowing sales growth, inventory management issues, and increased competition in both performance and lifestyle segments. His appointment signaled a return to leadership with intimate knowledge of Nike's culture, operations, and brand heritage.

Under Hill's leadership, Nike launched its "Win Now" strategy in fiscal 2026, focusing on realigning teams, strengthening partner relationships, rebalancing the portfolio, and winning on the ground. The company described itself as being "in the middle innings of our comeback," making progress in prioritized areas while taking decisive actions to drive long-term growth and profitability. Hill emphasized finding rhythm in Nike's new sport offense and setting up for the next phase of athlete-centered innovation.

Throughout its history, Nike has maintained its commitment to innovation, from the early days of Bowerman's shoe experiments to today's advanced materials science and digital integration. The company's ability to anticipate and shape consumer trends, while maintaining authentic connections to sports culture, has been instrumental in its sustained success. Nike's evolution from a small shoe distributor to a global athletic powerhouse demonstrates the power of brand building, innovation, and strategic adaptation to changing market conditions.

The company's recent challenges, including slowing growth, inventory management issues, and competitive pressures, have led to strategic realignment and renewed focus on core strengths. Nike's response to these challenges under Hill's leadership reflects the company's resilience and ability to adapt while maintaining its commitment to innovation and athlete-centered design.

Nike's history also reflects broader trends in business, from the globalization of manufacturing and supply chains to the rise of digital commerce and the increasing importance of brand storytelling in marketing. The company's ability to navigate these changes while maintaining its core identity and values has been crucial to its longevity and continued relevance in the rapidly evolving athletic apparel and footwear industry.