Nike Company History Essay Example

debuted itself at the 1972 Olympic trials.In 1973, Steve Prefontaine was the first prominent track star to wear Nike shoes. The late 70’s and early 80’s also saw John McEnroe, Carl Lewis, and Joan Benoit sporting Nike shoes.

Nike popularity grew so much that in 1979 they claimed 50% of the U. S. running market. A year later with 2,700 employees, Nike went public selling 2 million shares on the New York Stock Exchange. The 1980’s were marked by the signing of Michael Jordan as a product spokesperson, revenues in excess of $1 billion, the formation of Nike International Ltd. and the "Just Do It" campaign.

Nike also expanded its product line to include specialty apparel for a variety of sports. In 1990, Nike surpassed the $2 billion mark in consolidated revenue with 5,300 employees worldwide. In addition, we opened the Nike World Campus in Beaverton, Oregon. In 1991, Nike pushed revenues to $3 billion, up from $2 billion the prior year. This mark would continue to grow throughout the 90’s, with revenues in 1999 reaching $8. 8 billion.

These revenues grew based on improvements in shoe technology and successful marketing campaigns.International revenues fueled a great portion of this growth with an 80% increase in 1991 from the prior year. In 1992 international revenues topped $1 billion for the first time and accounted for over one-third of our total revenues. Such growth continued throughout the 1990's as we continued to focus our marketing efforts on major sporting events like the World Cup, and the next generation of celebrity endorsers, such as Tiger Woods, Lance Armstrong, and the players of women's professional basketball (WNBA). At the

end of the 90’s, Nike’s goal, as stated in our company web site, is to become a truly global brand.