For over fifty years, Nike has been one of the best-known and most respected footwear companies of all time, specializing in athletic and running shoes. But, like most businesses, they started small.
In 1964, Nike was founded by track and field athlete Phillip Knight, who was looking for a way to make a living. The business, originally known as Blue Ribbon Sports, began by selling Tiger sneakers, imported from the Onitsuka company in Japan. They made most of their car sales after track meets. He was soon joined in this venture by his athletic trainer, Bill Bowerman, who was seeking higher quality athletic shoes for his athletes.
Los Tigres quickly sold and the company flourished, soon hiring full-time employees and opening its first location. By 1971, Blue Ribbon Sports had earned over a million dollars and was ready to strike out on their own. His first original shoe was named Nike, after the Greek goddess of victory. It was also the first to feature Nike’s famous “swoosh,” designed by Carolyn Davidson. Interestingly, Knight originally didn’t care for the symbol, saying, “I don’t love it, but it will grow on me.”
Nike’s first self-designed shoe was the waffle-soled Moon shoe, which debuted in 1972. While searching for a new sole that would have better grip on urethane courts, Bowerman was inspired by the home waffle iron and used it to mold the first sole. . Other early Nike innovations included a running shoe with a nylon upper and a cushioned midsole that ran the entire length of the shoe.
In 1978, Blue Ribbon Sports officially changed their company name to Nike and sales were booming. Sales reached $270 million and they held half the US athletic and running shoe market in 1980, going public the same year. Nike aggressively pushed its image, especially seeking to increase its visibility by having famous and future athletes wear Nike shoes.
Nike’s success can also be attributed in part to the running, jogging, and fitness craze that swept across the country. When these activities began to lose popularity, the company was already expanding into other areas such as basketball, although its running shoes were still popular. The famous air damping device also made its debut around this time.
In 1983, the company experienced declines, and was forced to make structural changes and layoffs in the following years. In 1985, Nike launched its Air Jordans line with the endorsement of legend Michael Jordan. In the years that followed, it was the groundbreaking Air series that set Nike apart. Nike continued to dominate throughout the 1990s, cementing its place in the business.
Now, Nike is a multi-billion dollar company, currently the world’s largest supplier of running shoes and apparel. And of course, despite the strides they’ve made, Nike isn’t ignoring its roots, running shoes. Their high-tech footwear continues to push the boundaries of innovation and creativity.
