Words of Wisdom:

"Life is short so quality must be given to it. " - Papyrus

Nike Market

  • Date Submitted: 05/23/2010 11:10 AM
  • Flesch-Kincaid Score: 65.3 
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Nike, which is the Greek Goddess of Victory, was born in 1972 when BRS, Blue Ribbon Sports, launched its first branded shoe at the U.S. Olympic track and field trials. A former University of Oregon track team member Phil Knight created Blue Ribbon Sports. At Oregon, Knight was coached by the legend Bill Bowerman and then went on to become and alumni of the Stanford School of Business. BRS was crafted in 1962 when Knight made a deal with Onitsuka Tiger Company, a Japanese shoe company, to import their shoe to the United States. Knight had the idea to sell a low cost shoe with a very high quality. Knight had high hopes of taking Adidas out the top spot in the athletic shoe market. In 1964, Bill Bowerman decided to join Knight as a partner at BRS to create a   quest to be number one. Bowerman redesigned the Tiger shoes while Knight acted as the accountant/personal seller and went on the road to sell their newly crafted sneakers at track meets and local shoe stores. By 1966, Blue Ribbon Sports opened their first store in Portland, Oregon. Knight and Bowerman managed the store with the only other employee being a former Stanford runner Jeff Johnson.
During 1971, BRS caught a break when a trading company called Nissho Iwai introduced BRS to important letters of credit. This credit allowed BRS to subcontract its own shoe line and by 1972 it was selling Nike Brand shoes. Over the next decade Nike expanded almost double its size each year from the previous year. Nike is officially called Nike in 1978 and has signed on tennis great John McEnroe, and Olympic track star and gold medallist Carl Lewis.   Also during this time Nike is opening manufacturing plants all over the U.S. Nike was a household name for most athletes by early 1980’s.
Nike’s focus was still on track and field and for the most part track athletes were their target market. One of the first individuals to endorse a Nike product was a man who exemplified their style and way of conducting business, Steve...

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