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Nike, Inc.

Nike, Inc.[note 1] is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area.[4] It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022.[5][6]

Nike, Inc.
Headquarters near Beaverton, Oregon, U.S.
FormerlyBlue Ribbon Sports, Inc.
(1964–1971)
TypePublic
ISINUS6541061031
Industry
FoundedJanuary 25, 1964; 59 years ago (1964-01-25)
Founders
HeadquartersUnincorporated Washington County near Beaverton, Oregon, U.S. (Beaverton mailing address)
Area served
Worldwide
Key people
Products
Revenue US$46.71 billion (2022)
US$6.86 billion (2022)
US$6.05 billion (2022)
Total assets US$40.32 billion (2022)
Total equity US$15.28 billion (2022)
Number of employees
c. 79,100 (May 2022)
SubsidiariesConverse
Websitewww.nike.com
Footnotes / references
[1]

The company was founded on January 25, 1964, as "Blue Ribbon Sports", by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike, the Greek goddess of victory.[7] Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7,[8] and subsidiaries including Air Jordan and Converse. Nike also owned Bauer Hockey from 1995 to 2008, and previously owned Cole Haan, Umbro, and Hurley International.[9] In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of "Just Do It" and the Swoosh logo.

As of 2020, it employed 76,700 people worldwide.[10] In 2020, the brand alone was valued in excess of $32 billion, making it the most valuable brand among sports businesses.[11] Previously, in 2017, the Nike brand was valued at $29.6 billion.[12] Nike ranked 89th in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[13]

Origins and history

 
Bill Bowerman (left) conversing with Phil Knight (second from left) and two other members of the Oregon track team, 1958
 
Nike Factory Store in Wisconsin
 
A Nike Store in Harajuku, Tokyo, Japan
 
Nike Kicks Lounge in Harbour City, Hong Kong

Nike, originally known as Blue Ribbon Sports (BRS), was founded by University of Oregon track athlete Phil Knight and his coach, Bill Bowerman, on January 25, 1964.[14] The company initially operated in Eugene, Oregon as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Knight's automobile.[14]

According to Otis Davis, a University of Oregon student-athlete coached by Bowerman and Olympic gold medalist at the 1960 Summer Olympics, his coach made the first pair of Nike shoes for him, contradicting a claim that they were made for Phil Knight. According to Davis, "I told Tom Brokaw that I was the first. I don't care what all the billionaires say. Bill Bowerman made the first pair of shoes for me. People don't believe me. In fact, I didn't like the way they felt on my feet. There was no support and they were too tight. But I saw Bowerman made them from the waffle iron, and they were mine".[15]

In its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $8,000.[16] By 1965, sales had reached $20,000. In 1966, BRS opened its first retail store at 3107 Pico Boulevard in Santa Monica, California. In 1967, due to increasing sales, BRS expanded retail and distribution operations on the East Coast, in Wellesley, Massachusetts.[17]

 
Vintage Nike "waffle racer" sneaker

In 1971, Bowerman used his wife's waffle iron to experiment on rubber to create a new sole for track shoes that would grip but be lightweight and increase the runner's speed. Oregon's Hayward Field was transitioning to an artificial surface, and Bowerman wanted a sole which could grip to grass or bark dust without the use of spikes. Bowerman was talking to his wife about this puzzle over breakfast, when the waffle iron idea came into play.[18]

Bowerman's design led to the introduction of the "Moon Shoe" in 1972, so named because the waffle tread was said to resemble the footprints left by astronauts on the moon. Further refinement resulted in the "Waffle Trainer" in 1974, which helped fuel the explosive growth of Blue Ribbon Sports/Nike.[19][20]

By 1971, the relationship between BRS and Onitsuka Tiger came to an end. BRS prepared to launch its own line of footwear, which was rebranded as Nike, and would bear the Swoosh newly designed by Carolyn Davidson.[21][22] The Swoosh was first used by Nike on June 18, 1971,[23] and was registered with the U.S. Patent and Trademark Office on January 22, 1974.[24][25]

In 1976, the company hired John Brown and Partners, based in Seattle, as its first advertising agency.[26] The following year, the agency created the first "brand ad" for Nike, called "There is no finish line", in which no Nike product was shown.[26] By 1980 Nike had attained a 50% market share in the U.S. athletic shoe market, and the company went public in December of that year.[27]

Wieden+Kennedy, Nike's primary ad agency, has worked with Nike to create many print and television advertisements, and Wieden+Kennedy remains Nike's primary ad agency.[28] It was agency co-founder Dan Wieden who coined the now-famous slogan "Just Do It" for a 1988 Nike ad campaign,[29] which was chosen by Advertising Age as one of the top five ad slogans of the 20th century and enshrined in the Smithsonian Institution.[30] Walt Stack was featured in Nike's first "Just Do It" advertisement, which debuted on July 1, 1988.[31] Wieden credits the inspiration for the slogan to "Let's do it", the last words spoken by Gary Gilmore before he was executed.[32]

Throughout the 1980s, Nike expanded its product line to encompass many sports and regions throughout the world.[33] In 1990, Nike moved into its eight-building World Headquarters campus in Beaverton, Oregon.[34] The first Nike retail store, dubbed Niketown, opened in downtown Portland in November of that year.[35]

Phil Knight announced in mid-2015 that he would step down as chairman of Nike in 2016.[36][37] He officially stepped down from all duties with the company on June 30, 2016.[38]

In a company public announcement on March 15, 2018, Nike CEO Mark Parker said Trevor Edwards, a top Nike executive who was seen as a potential successor to the chief executive, was relinquishing his position as Nike's brand president and would retire in August.[39]

In October 2019, John Donahoe was announced as the next CEO, and succeeded Parker on January 13, 2020.[40] In November 2019, the company stopped selling directly through Amazon, focusing more on direct relationships with customers.[41]

Acquisitions

 
A Nike flagship store in Manhattan
 
A Nike Factory Store in Vaughan Mills

Nike has acquired and sold several apparel and footwear companies over the course of its history. Its first acquisition was the upscale footwear company Cole Haan in 1988,[42] followed by the purchase of Bauer Hockey in 1994.[43] In 2002, Nike bought surf apparel company Hurley International from founder Bob Hurley.[44] In 2003, Nike paid US$309 million to acquire sneaker company Converse.[45] The company acquired Starter in 2004[46] and soccer uniform maker Umbro in 2007.[47]

In order to refocus its business lines, Nike began divesting itself of some of its subsidiaries in the 2000s.[48] It sold Starter in 2007[46] and Bauer Hockey in 2008.[43] The company sold Umbro in 2012[49] and Cole Haan in 2013.[50] As of 2020, Nike owns only one subsidiary: Converse Inc.[citation needed]

Nike acquired Zodiac, a consumer data analytics company, in March 2018.[51] In August 2019, the company acquired Celect, a Boston-based predictive analytics company.[52] In December 2021, Nike purchased RTFKT Studios, a virtual shoe company that makes NFTs.[53]

In February 2021, Nike acquired Datalogue, a New York based company focused on digital sales and machine learning technology.[54]

Finance

Nike was made a member of the Dow Jones Industrial Average in 2013, when it replaced Alcoa.[55]

On December 19, 2013, Nike's quarterly profit rose due to a 13 percent increase in global orders for merchandise since April of that year. Future orders of shoes or clothes for delivery between December and April, rose to $10.4 billion. Nike shares (NKE) rose 0.6 percent to $78.75 in extended trading.[56]

In November 2015, Nike announced it would initiate a $12 billion share buyback, as well as a two-for-one stock split, with shares to begin trading at the decreased price on December 24.[57] The split will be the seventh in company history.[citation needed]

In June 2018, Nike announced it would initiate a $15 billion share buyback over four years, to begin in 2019 upon completion of the previous buyback program.[58]

For the fiscal year 2018, Nike reported earnings of US$1.933 billion, with annual revenue of US$36.397 billion, an increase of 6.0% over the previous fiscal cycle. Nike's shares traded at over $72 per share, and its market capitalization was valued at over US$114.5 billion in October 2018.[59]

In March 2020, Nike reported a 5% drop in Chinese sales associated with stores' closure due to the COVID-19 outbreak. It was the first decrease in six years. At the same time, the company's online sales grew by 36% during Q1 of 2020. Also, the sales of personal training apps grew by 80% in China.[60]

Year Revenue
in mil. USD
Net income
in mil. USD
Total assets
in mil. USD
Price per share
in USD
Employees
2005 13,740 1,212 8,794 8.75 26,000
2006 14,955 1,392 9,870 9.01 28,000
2007 16,326 1,492 10,688 12.14 30,200
2008 18,627 1,883 12,443 13.05 32,500
2009 19,176 1,487 13,250 12.14 34,300
2010 19,014 1,907 14,419 16.80 34,400
2011 20,117 2,133 14,998 19.82 38,000
2012 23,331 2,211 15,465 23.39 44,000
2013 25,313 2,472 17,545 30.50 48,000
2014 27,799 2,693 18,594 38.56 56,500
2015 30,601 3,273 21,597 53.18 62,600
2016 32,376 3,760 21,379 54.80 70,700
2017 34,350 4,240 23,259 54.99 74,400
2018 36,397 1,933 22,536 72.63 73,100
2019 39,117 4,029 23,717 86.73 76,700
2020 37,403 2,539 31,342 106.46 75,400
2021 44,538 5,727 37,740 141.47 73,300
2022 46,710 6,046 40,321 166.67 79,100

Logo evolution

Notes
  1. ^ This logo is still used on some retro products with red boxes

Products

Sports apparel

 
Nike Zoom Elite 2 athletic shoe
 
A pair of Nike Air Jordan I basketball shoes
 
Another example of the Nike Air Jordan

Nike produces a wide range of sports equipment and apparel. Their first products were track running shoes. Nike Air Max is a line of shoes first released by Nike, Inc. in 1987. Additional product lines were introduced later, such as Air Huarache, which debuted in 1992. The most recent additions to their line are the Nike 6.0, Nike NYX, and Nike SB shoes, designed for skateboarding. Nike has recently introduced cricket shoes called Air Zoom Yorker, designed to be 30% lighter than their competitors'.[61] In 2008, Nike introduced the Air Jordan XX3, a high-performance basketball shoe designed with the environment in mind.

Nike's range of products include shoes, jerseys, shorts, cleats, baselayers, etc. for sports activities such as association football,[62] basketball, track and field, combat sports, tennis, American football, athletics, golf, ice hockey, and cross training for men, women, and children. Nike also sells shoes for activities such as skateboarding, baseball, cycling, volleyball, wrestling, cheerleading, lacrosse, cricket, aquatic activities, auto racing, and other athletic and recreational uses. Nike recently teamed up with Apple Inc. to produce the Nike+ product that monitors a runner's performance via a radio device in the shoe that links to the iPod nano. While the product generates useful statistics, it has been criticized by researchers who were able to identify users' RFID devices from 60 feet (18 m) away using small, concealable intelligence motes in a wireless sensor network.[63][64]

In 2004, Nike launched the SPARQ Training Program/Division.[65] Some of Nike's newest shoes contain Flywire and Lunarlite Foam to reduce weight.[66] The Air Zoom Vomero running shoe, introduced in 2006 and currently in its 11th generation, featured a combination of groundbreaking innovations including a full-length air cushioned sole,[67] an external heel counter, a crashpad in the heel for shock absorption, and Fit Frame technology for a stable fit.[68]

In 2023, Nike told ESPN that it would cease using kangaroo skins in its products by the end of that year and debut "a new Nike-only, proprietary synthetic upper, [with] a new material that is a better performance solution and replaces the use of kangaroo leather."[69]

Nike Vaporfly

 
Nike Vaporfly cut in half to show the different layers that make up the base of the shoe. The dark grey line shows the carbon fiber plate.
 
Nike cleat

The Nike Vaporfly first came out in 2017 and their popularity, along with its performance, prompted a new series of running shoes.[70][71] The Vaporfly series has a new technological composition that has revolutionized long-distance running since studies have shown that these shoes can improve marathon race time up to 4.2%.[71] The composition of the sole contains a foamy material, Pebax, that Nike has altered and now calls it ZoomX (which can be found in other Nike products as well). Pebax foam can also be found in airplane insulation and is "squishier, bouncier, and lighter" than foams in typical running shoes.[71] In the middle of the ZoomX foam there is a full-length carbon fiber plate "designed to generate extra spring in every step".[71] At the time of this writing Nike had just released its newest product from the Vaporfly line, the Nike ZoomX Vaporfly NEXT%, which was marketed as "the fastest shoe we’ve ever made" using Nike's "two most innovative technologies, Nike ZoomX foam and VaporWeave material".[72]

Street fashions

 
Nike Elite no-show socks with cushioned sole

The Nike brand, with its distinct V-shaped logo, quickly became regarded as a status symbol[73] in modern urban fashion and hip-hop fashion[74] due to its association with success in sport.[75] Beginning in the 1980s, various items of Nike clothing became staples of mainstream American youth fashion, especially tracksuits, shell suits, baseball caps, Air Jordans, Air Force 1's, and Air Max running shoes[76] with thick, air cushioned rubber soles and contrasting blue, yellow, green, white, or red trim.[77] Limited edition sneakers and prototypes with a regional early release were known as Quickstrikes,[78] and became highly desirable items[79] for teenage members of the sneakerhead subculture.[80]

By the 1990s and 2000s, American and European teenagers[81] associated with the preppy[82] or popular clique[83] began combining these sneakers,[84] leggings, sweatpants, crop tops,[85] and tracksuits with regular casual chic[86] street clothes[87] such as jeans, skirts, leg warmers, slouch socks, and bomber jackets. Particularly popular[citation needed] were the unisex spandex Nike Tempo compression shorts[88] worn for cycling and running, which had a mesh lining, waterproofing, and, later in the 2000s, a zip pocket for a Walkman or MP3 player.[89]

From the late 2000s into the 2010s, Nike Elite basketball socks began to be worn as everyday clothes by hip-hop fans and young children.[90] Originally plain white or black, these socks had special shock absorbing cushioning in the sole[91] plus a moisture wicking upper weave.[92] Later, Nike Elite socks became available in bright colors inspired by throwback basketball uniforms,[93] often with contrasting bold abstract designs, images of celebrities,[94] and freehand digital print[95] to capitalise upon the emerging nostalgia for 1990s fashion.

In 2015, a new self-lacing shoe was introduced. Called the Nike Mag, which are replicas of the shoes featured in Back to the Future Part II, it had a preliminary limited release, only available by auction with all proceeds going to the Michael J. Fox Foundation.[96] This was done again in 2016.[97]

Nike have introduced a premium line, focused more on streetwear than sports wear called NikeLab.[98]

In March 2017, Nike announced its launch of a plus-size clothing line, which will feature new sizes 1X through 3X on more than 200 products.[99] Another significant development at this time was the Chuck Taylor All-Star Modern, an update of the classic basketball sneaker that incorporated the circular knit upper and cushioned foam sole of Nike's Air Jordans.[100]

Collectibles

On July 23, 2019, a pair of Nike Inc. running shoes sold for $437,500 at a Sotheby's auction. The so-called "Moon Shoes" were designed by Nike co-founder and track coach Bill Bowerman for runners participating in the 1972 Olympics trials. The buyer was Miles Nadal, a Canadian investor and car collector, who had just paid $850,000 for a group of 99 rare of limited collection pairs of sport shoes. The purchase price was the highest for one pair of sneakers, the previous record being $190,373 in 2017 for a pair of signed Converse shoes in California, said to have been worn by Michael Jordan during the 1984 basketball final of the Olympics that year.[101]

Virtual

After acquiring RTFKT, Nike launched the Dunk Genesis Cryptokicks collection, which features over 20,000 NFTs.[102] One design by Takashi Murakami was sold for $134,000 in April 2022.[103]

Headquarters

 
Nike World Headquarters near Beaverton, Oregon

Nike's world headquarters are surrounded by the city of Beaverton but are within unincorporated Washington County. The city attempted to forcibly annex Nike's headquarters, which led to a lawsuit by Nike, and lobbying by the company that ultimately ended in Oregon Senate Bill 887 of 2005. Under that bill's terms, Beaverton is specifically barred from forcibly annexing the land that Nike and Columbia Sportswear occupy in Washington County for 35 years, while Electro Scientific Industries and Tektronix receive the same protection for 30 years.[104] Nike is planning to build a 3.2 million square foot expansion to its World Headquarters in Beaverton.[105] The design will target LEED Platinum certification and will be highlighted by natural daylight, and a gray water treatment center.[105]

Controversies

Nike has contracted with more than 700 shops around the world and has offices located in 45 countries outside the United States.[106] Most of the factories are located in Asia, including Indonesia, China, Taiwan, India,[107] Thailand, Vietnam, Pakistan, Philippines, and Malaysia.[108] Nike is hesitant to disclose information about the contract companies it works with. However, due to harsh criticism from some organizations like CorpWatch, Nike has disclosed information about its contract factories in its Corporate Governance Report.

Sweatshops

In the 1990s, Nike received criticism for its use of sweatshops.[109][110] Beginning in 1990, many protests occurred in big cities such as Los Angeles,[111] Washington, DC and Boston in order to show public outcry for Nikes use of child labor and sweatshops. Nike has been criticized for contracting with factories (known as Nike sweatshops) in countries such as China, Vietnam, Indonesia and Mexico. Vietnam Labor Watch, an activist group, has documented that factories contracted by Nike have violated minimum wage and overtime laws in Vietnam as late as 1996, although Nike claims that this practice has been stopped.[112] The company has been subject to much critical coverage of the often poor working conditions and exploitation of cheap overseas labor employed in the free trade zones where their goods are typically manufactured. Sources for this criticism include Naomi Klein's book No Logo and Michael Moore documentaries.

Campaigns have been taken up by many colleges and universities, especially anti-globalisation groups, as well as several anti-sweatshop groups such as the United Students Against Sweatshops.[113]

As of July 2011, Nike stated that two-thirds of its factories producing Converse products still do not meet the company's standards for worker treatment. A July 2011 Associated Press article stated that employees at the company's plants in Indonesia reported constant abuse from supervisors.[114]

Child labor allegations

During the 1990s, Nike faced criticism for the use of child labor in Cambodia and Pakistan in factories it contracted to manufacture soccer balls. Although Nike took action to curb or at least reduce the practice, they continue to contract their production to companies that operate in areas where inadequate regulation and monitoring make it hard to ensure that child labor is not being used.[115]

In 2001, a BBC documentary uncovered occurrences of child labor and poor working conditions in a Cambodian factory used by Nike.[116] The documentary focused on six girls, who all worked seven days a week, often 16 hours a day.

Strike in China factory

In April 2014, one of the biggest strikes in mainland China took place at the Yue Yuen Industrial Holdings Dongguan shoe factory, producing amongst others for Nike. Yue Yuen did underpay an employee by 250 yuan (40.82 US Dollars) per month. The average salary at Yue Yuen is 3000 yuan per month. The factory employs 70,000 people. This practice was in place for nearly 20 years.[117][118][119]

Paradise Papers

 
Nike office in North America

On November 5, 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that Nike is among the corporations that used offshore companies to avoid taxes.[120][121][122]

Appleby documents detail how Nike boosted its after-tax profits by, among other maneuvers, transferring ownership of its Swoosh trademark to a Bermudan subsidiary, Nike International Ltd. This transfer allowed the subsidiary to charge royalties to its European headquarters in Hilversum, Netherlands, effectively converting taxable company profits to an account payable in tax-free Bermuda.[123] Although the subsidiary was effectively run by executives at Nike's main offices in Beaverton, Oregon—to the point where a duplicate of the Bermudan company's seal was needed—for tax purposes the subsidiary was treated as Bermuda. Its profits were not declared in Europe and came to light only because of a mostly unrelated case in US Tax Court, where papers filed by Nike briefly mention royalties in 2010, 2011 and 2012 totaling $3.86 billion.[123] Under an arrangement with Dutch authorities, the tax break was to expire in 2014, so another reorganization transferred the intellectual property from the Bermudan company to a Dutch commanditaire vennootschap or limited partnership, Nike Innovate CV. Dutch law treats income earned by a CV as if it had been earned by the principals, who owe no tax in the Netherlands if they do not reside there.[123]

Colin Kaepernick

In September 2018, Nike announced it had signed former American football quarterback Colin Kaepernick, noted for his controversial decision to kneel during the playing of the US national anthem, to a long-term advertising campaign.[124] According to Charles Robinson of Yahoo! Sports, Kaepernick and Nike agreed to a new contract despite the fact Kaepernick has been with the company since 2011 and said that "interest from other shoe companies" played a part in the new agreement. Robinson said the contract is a "wide endorsement" where Kaepernick will have his own branded line including shoes, shirts, jerseys and more. According to Robinson, Kaepernick signed a "star" contract that puts him level with a "top-end NFL player" worth millions per year plus royalties.[125] In response, some people set fire to their own Nike-branded clothes and shoes or cut the Nike swoosh logo out of their clothes, and the Fraternal Order of Police called the advertisement an "insult";[126][127][128] others, such as LeBron James,[129] Serena Williams,[130] and the National Black Police Association,[128] praised Nike for its campaign. The College of the Ozarks removed Nike from all their athletic uniforms in response.[131]

During the following week, Nike's stock price fell 2.2%, even as online orders of Nike products rose 27% compared with the previous year.[132] In the following three months, Nike reported a rise in sales.[133]

In July 2019, Nike released a shoe featuring a Betsy Ross flag called the Air Max 1 Quick Strike Fourth of July trainers. The trainers were designed to celebrate Independence Day. The model was subsequently withdrawn after Colin Kaepernick told the brand he and others found the flag offensive because of its association with slavery.[134][135][136]

Nike's decision to withdraw the product drew criticism from Arizona's Republican Governor, Doug Ducey, and Texas's Republican Senator Ted Cruz.[137] Nike's decision was praised by others due to the use of the flag by white nationalists,[136] but the Anti-Defamation League's Center on Extremism has declined to add the flag to its database of "hate symbols."[138]

Hong Kong protests

U.S. Vice President Mike Pence criticized Nike for "siding with the Chinese Communist Party and silencing free speech". He claimed that after Houston Rockets general manager Daryl Morey was criticized by the Chinese government for his tweet supporting the 2019 Hong Kong protests, Nike removed Rockets merchandise from its stores in China.[139] He stated that the brand "promotes itself as a so called social-justice champion, but when it comes to Hong Kong, it prefers checking its social conscience at the door."[140]

Nike Vaporfly Shoe

On January 31, 2020, the World Athletics issued new guidelines concerning shoes to be used in the upcoming Tokyo 2020 Olympics.[141] These updates came in response to criticisms concerning technology in the Nike Vaporfly running shoes, which had been submitted beginning around 2017–2018.[142] These criticisms stated that the shoes provided athletes with an unfair advantage over their opponents and some critics considered it to be a form of technology doping.[71][143] According to Nike funded research, the shoes can improve efficiency by up to 4.2%[71] and runners who have tested the shoe are saying that it causes reduced soreness in the legs; sports technologist Bryce Dyer attributes this to the ZoomX and carbon fiber plate since it absorbs the energy and "spring[s] runners forward".[143] Some athletes, scientists, and fans have compared this to the 2008 LAZR swimsuit controversy.[144]

Some of the major changes in the guidelines that have come about as a result of these criticisms include that the "sole must be no thicker than 40mm" and that "the shoe must not contain more than one rigid embedded plate or blade (of any material) that runs either the full length or only part of the length of the shoe. The plate may be in more than one part but those parts must be located sequentially in one plane (not stacked or in parallel) and must not overlap". The components of the shoes are not the only thing that had major changes; starting April 30, 2020, "any shoe must have been available for purchase by any athlete on the open retail market (online or in store) for a period of four months before it can be used in competition".[141] Prior to these new guidelines World Athletics reviewed the Vaporfly shoes and "concluded that there is independent research that indicates that the new technology incorporated in the soles of road and spiked shoes may provide a performance advantage" and that it recommends further research to "establish the true impact of [the Vaporfly] technology."[141]

Lil Nas X Satan Shoes

On March 29, 2021, American rapper Lil Nas X partnered with New York-based art collective MSCHF to release a modified pair of Nike Air Max 97s called Satan Shoes.[145] The shoes are black and red with a bronze pentagram, featuring the Bible verse Luke 10:18 and are filled with "60cc and 1 drop of human blood." Only 666 pairs were created and were sold at a price of $1,018. Nike immediately iterated that they were uninvolved in the creation and promotion of the shoes and did not endorse the messages of Lil Nas X or MSCHF.[146] Nike filed a trademark lawsuit against MSCHF with the New York federal Court, in an effort to stop the distribution of the shoes. On April 1, a federal judge ordered a temporary restraining order blocking the sale and distribution of the shoes pending a preliminary injunction.[147]

Forced Uyghur labor allegations

In December 2021, the European Center for Constitutional and Human Rights filed a criminal complaint in a Dutch court against Nike and other brands, alleging that they benefited from the use of forced Uyghur labor in Xinjiang.[148]

Environmental record

In 2007, New England-based environmental organization Clean Air-Cool Planet ranked Nike among the top three companies (out of 56) in a survey of climate-friendly companies.[149]

Recycling

Nike has also been praised for its Nike Grind program, which closes the product lifecycle, by groups such as Climate Counts.[150]

Since 1993, Nike has worked on its Reuse-A-Shoe program.[151] This program is Nike's longest-running program that benefits both the environment and the community by collecting old athletic shoes of any type in order to process and recycle them. The material that is produced is then used to help create sports surfaces such as basketball courts, running tracks, and playgrounds.[151] Nike France made their Reuse-A-Shoe program available online so that they could make it easier for consumers to send in their old shoes.[152] In 2017, it was estimated that 28,000,000 shoes were collected since its start in 1993.  Nike limited the mail-in option of the program because they are aware that the emissions from shipping would offset the good, they are trying to do.  They work with the National Recycling Coalition to help limit transportation of recycled shoes.  During transportation most of the vehicles that are used are using diesel or fuel oil.[153] Diesel oil emits 22.44 pounds of Carbon Dioxide per gallon.[154]  

A campaign that Nike began for Earth Day 2008 was a commercial that featured basketball star Steve Nash wearing Nike's Trash Talk Shoe, which had been constructed in February 2008 from pieces of leather and synthetic leather waste from factory floors. The Trash Talk Shoe also featured a sole composed of ground-up rubber from a shoe recycling program. Nike claims this is the first performance basketball shoe that has been created from manufacturing waste, but it only produced 5,000 pairs for sale.[155]

Sulfur hexafluoride

Sulfur hexafluoride is an extremely potent and persistent greenhouse gas that was used to fill the cushion bags in all "Air"-branded shoes from 1992 to 2006.[156] 277 tons was used during the peak in 1997.[157]

Toxic chemicals

In 2008, a project through the University of North Carolina at Chapel Hill found workers were exposed to toxic isocyanates and other chemicals in footwear factories in Thailand. In addition to inhalation, dermal exposure was the biggest problem found. This could result in allergic reactions including asthmatic reactions.[158][159]

Water pollution

In July 2011, environmental group Greenpeace published a report regarding water pollution impacting the Yangtze River emitted from a major textile factory operated by Nike supplier Youngor Group.[160] Following the report, Nike, as well as Adidas, Puma, and a number of other brands included in the report announced an agreement to stop discharging hazardous chemicals by 2020.[161] However, in July 2016 Greenpeace released a follow-up report which found that Nike "does not take individual responsibility" for eliminating hazardous chemicals, stating that Nike had not made an explicit commitment to riding itself of perfluorinated compounds, and that "Nike does not ensure its suppliers report their hazardous chemical discharge data and has not made a commitment to do so".[162]

Back in 2016 Nike started to use water free dyeing materials so that they can help reduce their water use in their Southeast Asian factories.[163]

Carbon footprint

Nike reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 30 June 2020 at 317 Kt (+12/+4% y-o-y)[164] and plans to reduce emissions 65% by 2030 from a 2015 base year.[165] This science-based target is aligned with Paris Agreement to limit global warming to 1.5 °C above pre-industrial levels.[166] According to a study done in 2017, Nike contributed 3,002,529 metric tons of Carbon Dioxide in 2017 combined from different sectors in the company like retail, manufacturing, management, and more.[153]

Nike's annual Total CO2e Emissions - Location-Based Scope 1 + Scope 2 (in kilotonnes)
Jun 2015 Jun 2016 Jun 2017 Jun 2018 Jun 2019 Jun 2020
286[167] 300[168] 327[169] 301[170] 305[171] 317[164]

Partnership with Newlight

In 2021, Nike announced they were working with Newlight Technologies to find more eco-friendly materials for their sneakers. They specifically mentioned Newlight’s AirCarbon product which is a bioplastic that can be used to make shoes. The bioplastic is used as a replacement to leather, plastic, and other materials that are like that.[172] Newlight was reported saying that the goal is to reduce Nike’s carbon footprint.[173]

Sustainability

Nike Inc. has been committed to fighting climate change by becoming a sustainable business. Even as they continue to grow, they have still achieved reducing their environmental impact. The company acknowledges both triumphs and problems in its FY12-13 Sustainable Business Performance Summary, while they are making progress in major impact areas such as climate and energy, labor, chemistry, water, waste, and community. The company's progress is evidenced by an absolute reduction in carbon emissions of close to 3% across the whole value chain from its FY11 baseline, though sales increased by 26% during the same year.[174] Production increased as the company met its strategic goal of sourcing from fewer, higher-performing contract factories, with a 14% decrease - from 910 to 785 plants during the last two years.[174]

Nike Inc. is investing in sustainable materials and production techniques in addition to lowering their carbon footprint to combat climate change. A variety of environmentally friendly items created with materials including recycled polyester, organic cotton, and water-based adhesives have been introduced by Nike. For fiscal year 2015, the company enhanced water efficiency by 15% per unit in clothing materials dyeing and finishing and footwear manufacturing, as well as achieved a 20% reduction in CO2 emissions and a 10% decrease in waste.[175] Additionally, they have used cutting-edge manufacturing techniques that lessen waste production and the overall environmental impact of their products.

In 2019, Nike began an innovative program called "Move to Zero," which is an effort to achieve zero waste and zero carbon in the organization's supply chain and product lifetime. The project comprises a variety of tactics, including boosting the use of sustainable materials, investing in renewable energy, and enhancing energy efficiency. The efficiency of designs calculated for the Move to Zero collection is 90% or higher, which means that almost all of the fabric used in production ends up in the garment rather than in the trash.[176] The men's and women's sections of the collection contain at least 60% organic and recycled materials, including sustainably sourced cotton.[176]

Marketing strategy

Nike promotes its products through sponsorship agreements with celebrity athletes, professional teams and college athletic teams.

Advertising

In 1982, Nike aired its first three national television ads, created by newly formed ad agency Wieden+Kennedy (W+K), during the broadcast of the New York Marathon.[177] The Cannes Advertising Festival has named Nike its Advertiser of the Year in 1994 and 2003, making it the first company to receive that honor twice.[178]

Nike also has earned the Emmy Award for best commercial in 2000 and 2002. The first was for "The Morning After," a satirical look at what a runner might face on the morning of January 1, 2000, if every dire prediction about the Y2K problem came to fruition.[179] The second was for a 2002 spot called "Move," which featured a series of famous and everyday athletes in a variety of athletic pursuits.[180]

Beatles song

Nike was criticized for its use of the Beatles song "Revolution" in a 1987 commercial against the wishes of Apple Records, the Beatles' recording company. Nike paid US$250,000 to Capitol Records Inc., which held the North American licensing rights to the recordings, for the right to use the Beatles' rendition for a year.[181]

That same year, Apple Records sued Nike Inc., Capitol Records Inc., EMI Records Inc. and Wieden+Kennedy for $15 million.[181] Capitol-EMI countered by saying the lawsuit was "groundless" because Capitol had licensed the use of "Revolution" with the "active support and encouragement of Yoko Ono, a shareholder and director of Apple Records."

Nike discontinued airing ads featuring "Revolution" in March 1988. Yoko Ono later gave permission to Nike to use John Lennon's "Instant Karma" in another advertisement.

New media marketing

Nike was an early adopter of internet marketing, email management technologies, and using broadcast and narrowcast communication technologies to create multimedia marketing campaigns.

Minor Threat advertisement

In late June 2005, Nike received criticism from Ian MacKaye, owner of Dischord Records, guitarist/vocalist for Fugazi and The Evens, and front man of the defunct punk band Minor Threat, for appropriating imagery and text from Minor Threat's 1981 self-titled album's cover art in a flyer promoting Nike Skateboarding's 2005 East Coast demo tour.[182]

On June 27, Nike Skateboarding's website issued an apology to Dischord, Minor Threat, and fans of both and announced that they have tried to remove and dispose of all flyers. They stated that the people who designed it were skateboarders and Minor Threat fans themselves who created the advertisement out of respect and appreciation for the band.[183] The dispute was eventually settled out of court between Nike and Minor Threat.

 
Niketown at Oxford Circus, London

Nike 6.0

As part of the 6.0 campaign, Nike introduced a new line of T-shirts that include phrases such as "Dope", "Get High" and "Ride Pipe" – sports lingo that is also a double entendre for drug use. Boston Mayor Thomas Menino expressed his objection to the shirts after seeing them in a window display at the city's Niketown and asked the store to remove the display. "What we don't need is a major corporation like Nike, which tries to appeal to the younger generation, out there giving credence to the drug issue," Menino told The Boston Herald. A company official stated the shirts were meant to pay homage to extreme sports, and that Nike does not condone the illegal use of drugs.[184] Nike was forced to replace the shirt line.[185]

NBA uniform deal

In June 2015, Nike signed an 8-year deal with the NBA to become the official uniform supplier for the league, beginning with the 2017–18 season.[186] The brand took over for Adidas, who provided the uniforms for the league since 2006.[186] Unlike previous deals, Nike's logo appear on NBA jerseys – a first for the league.[186] Initially, the Charlotte Hornets, owned by longtime Nike endorser Michael Jordan, were the only team not to sport the Nike swoosh, instead wearing the Jumpman logo associated with Jordan-related merchandise.[187] However, beginning with the 2020–21 season, the Jumpman replaced the swoosh on the NBA's alternate "Statement" uniforms.[188]

Sponsorship

 
Michael Jordan (pictured in 1987) helped drive Nike sales.

Nike sponsors top athletes in many sports to use their products and promote and advertise their technology and design. Nike's first professional athlete endorser was Romanian tennis player Ilie Năstase.[22] The first track endorser was distance runner Steve Prefontaine. Prefontaine was the prized pupil of the company's co-founder, Bill Bowerman, while he coached at the University of Oregon. Today, the Steve Prefontaine Building is named in his honor at Nike's corporate headquarters. Nike has only made one statue of its sponsored athletes and it is of Steve Prefontaine.[189]

Nike has also sponsored many other successful track and field athletes over the years, such as Sebastian Coe, Carl Lewis, Jackie Joyner-Kersee, Michael Johnson and Allyson Felix. The signing of basketball player Michael Jordan in 1984, with his subsequent promotion of Nike over the course of his career, with Spike Lee as Mars Blackmon, proved to be one of the biggest boosts to Nike's publicity and sales.[190]

 
Ronaldinho (pictured with Barcelona in 2007) appeared in a 2005 Nike advertisement that went viral on YouTube, becoming the site's first video to reach one million views.[191][192]

Nike is a major sponsor of the athletic programs at Penn State University and named its first child care facility after Joe Paterno when it opened in 1990 at the company's headquarters. Nike originally announced it would not remove Paterno's name from the building in the wake of the Penn State sex abuse scandal. After the Freeh Report was released on July 12, 2012, Nike CEO Mark Parker announced the name Joe Paterno would be removed immediately from the child development center. A new name has yet to be announced.[193][194]

 
Nike Hypervenom 3 boots were commissioned for French prodigy Kylian Mbappé.

In the early 1990s, Nike made a strong push into the association football business making endorsement deals with famous and charismatic players such as Romário, Eric Cantona or Edgar Davids. They continued the growth in the sport by signing more top players including: Ronaldo, Ronaldinho, Francesco Totti, Thierry Henry, Didier Drogba, Andrés Iniesta, Wayne Rooney and still have many of the sport's biggest stars under their name, with Cristiano Ronaldo, Zlatan Ibrahimović, Neymar, Harry Kane, Eden Hazard and Kylian Mbappé among others.[195]

Nike has been the official ball supplier for the Premier League since the 2000–01 season.[196] In 2012, Nike carried a commercial partnership with the Asian Football Confederation.[197] In August 2014, Nike announced that they will not renew their kit supply deal with Manchester United after the 2014–15 season, citing rising costs.[198] Since the start of the 2015–16 season, Adidas has manufactured Manchester United's kit as part of a world-record 10-year deal worth a minimum of £750 million.[199]

 
Nike logo in the Camp Nou, the home stadium of Barcelona

Nike still has many of the top teams playing in their uniforms, including: FC Barcelona, Paris Saint-Germain and Liverpool (the latter from the 2020–21 season),[200] and the national teams of Brazil, France, England, Portugal and the Netherlands among many others.

 
Ticket for the Nike International Tennis Exhibition, John McEnroe vs. Carl-Uwe Steeb, Munich (1989)

Nike has been the sponsor for many top ranked tennis players. Brand's commercial success in the sport went hand in hand with the endorsement deals signed with the biggest and the world's most charismatic stars and number one ranked players of the subsequent eras, including John McEnroe in the 1980s, Andre Agassi and Pete Sampras in the 1990s and Roger Federer, Rafael Nadal, Serena Williams and Maria Sharapova with the start of the 21st century.[201]

Nike has sponsored Tiger Woods for much of his career, and remained on his side amid the controversies that shaped the golfer's career.[202] In January 2013, Nike signed Rory McIlroy, the then No 1 golfer in the world to a 10-year sponsorship deal worth $250 million.[203] Nike has also gone on to sign top players in golf including Scottie Scheffler, Nelly Korda, Tommy Fleetwood, Tony Finau, Jason Day and Francesco Molinari.

Nike was the official kit sponsor for the Indian cricket team from 2005 to 2020.[204][205] On February 21, 2013, Nike announced it suspended its contract with South African limbless athlete Oscar Pistorius, due to him being charged with premeditated murder.[206]

Nike consolidated its position in basketball in 2015 when it was announced that the company would sign an 8-year deal with the NBA, taking over from the league's previous uniform sponsor, Adidas. The deal required all franchise team members to wear jerseys and shorts with the Swoosh logo, beginning with the 2017/18 season.[207] After the success of partnership with Jordan, which resulted in the creation of the unique Air Jordan brand, Nike has continued to build partnership with the biggest names in basketball. LeBron James was given the Slogan "We are All Witnesses" when he signed with Nike. Similar to "Air Jordan", LeBron's brand became massively popular. The slogan was an extremely accurate way to describe the situation LeBron was heading into in the NBA as he was expected to be the new king of the NBA.[208] Some have had signature shoes designed for them, including Kobe Bryant, Jason Kidd, Vince Carter and more recently LeBron James, Kevin Durant, Giannis Antetokounmpo and Paul George, among others.[209][210][211][212][213][214]

A news report originating from CNN reported that Nike spent $11.5 billion, nearly a third of its sales, on marketing and endorsement contracts in the year 2018. Nike and its Jordan brand sponsored 85 men's and women's basketball teams in the NCAA tournament.[215]

Ties with the University of Oregon

Nike maintains strong ties, both directly and through partnerships with Phil Knight, with the University of Oregon.[216] Nike designs the University of Oregon football program's team attire.[217] New unique combinations are issued before every game day.[216] Tinker Hatfield, who also redesigned the university's logo, leads this effort.[218]

More recently, the corporation donated $13.5 million towards the renovation and expansion of Hayward Field.[219]

Phil Knight has invested substantial personal funds towards developing and maintaining the university's athletic apparatus.[220] His university projects often involve input from Nike designers and executives, such as Tinker Hatfield.[218]

Causes

In 2012, Nike is listed as a partner of the (PRODUCT)RED campaign together with other brands such as Girl, American Express, and Converse. The campaign's mission is to prevent the transmission of HIV from mother to child. The campaign's byline is "Fighting For An AIDS Free Generation". The company's goal is to raise and send funds, for education and medical assistance to those who live in areas heavily affected by AIDS.[221] In 2023, Nike became the presenting sponsor of Reviving Baseball in Inner Cities, which encourages youth in underserved communities to participate in baseball and softball.[222]

Program

The Nike Community Ambassador Program, allows Nike employees from around the world to go out and give to their community. Over 3,900 employees from various Nike stores have participated in teaching children to be active and healthy.[223]

See also

Notes

  1. ^ The pronunciations of "Nike" include /ˈnki/ ( listen) NY-kee officially and in the US, as well as /nk/ NYKE in the UK.[2][3]

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Further reading

  • Egan, Timothy (September 13, 1998). "The Swoon of the Swoosh". The New York Times.

External links

Coordinates: 45°30′33″N 122°49′48″W / 45.5093°N 122.8299°W / 45.5093; -122.8299

nike, this, article, about, company, other, uses, nike, disambiguation, note, american, multinational, corporation, that, engaged, design, development, manufacturing, worldwide, marketing, sales, footwear, apparel, equipment, accessories, services, company, he. This article is about the company For other uses see Nike disambiguation Nike Inc note 1 is an American multinational corporation that is engaged in the design development manufacturing and worldwide marketing and sales of footwear apparel equipment accessories and services The company is headquartered near Beaverton Oregon in the Portland metropolitan area 4 It is the world s largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment with revenue in excess of US 46 billion in its fiscal year 2022 5 6 Nike Inc Headquarters near Beaverton Oregon U S FormerlyBlue Ribbon Sports Inc 1964 1971 TypePublicTraded asNYSE NKE Class B DJIA componentS amp P 100 componentS amp P 500 componentISINUS6541061031IndustryApparelAccessoriesSports equipmentFoundedJanuary 25 1964 59 years ago 1964 01 25 FoundersBill BowermanPhil KnightHeadquartersUnincorporated Washington County near Beaverton Oregon U S Beaverton mailing address Area servedWorldwideKey peoplePhilip H Knight Chairman Emeritus Mark Parker Executive Chairman John Donahoe President and CEO John Hoke III Chief Design Officer ProductsAthletic shoesathletic apparelsporting goodsaccessoriesRevenueUS 46 71 billion 2022 Operating incomeUS 6 86 billion 2022 Net incomeUS 6 05 billion 2022 Total assetsUS 40 32 billion 2022 Total equityUS 15 28 billion 2022 Number of employeesc 79 100 May 2022 SubsidiariesConverseWebsitewww wbr nike wbr comFootnotes references 1 The company was founded on January 25 1964 as Blue Ribbon Sports by Bill Bowerman and Phil Knight and officially became Nike Inc on May 30 1971 The company takes its name from Nike the Greek goddess of victory 7 Nike markets its products under its own brand as well as Nike Golf Nike Pro Nike Air Jordan Nike Blazers Air Force 1 Nike Dunk Air Max Foamposite Nike Skateboarding Nike CR7 8 and subsidiaries including Air Jordan and Converse Nike also owned Bauer Hockey from 1995 to 2008 and previously owned Cole Haan Umbro and Hurley International 9 In addition to manufacturing sportswear and equipment the company operates retail stores under the Niketown name Nike sponsors many high profile athletes and sports teams around the world with the highly recognized trademarks of Just Do It and the Swoosh logo As of 2020 it employed 76 700 people worldwide 10 In 2020 the brand alone was valued in excess of 32 billion making it the most valuable brand among sports businesses 11 Previously in 2017 the Nike brand was valued at 29 6 billion 12 Nike ranked 89th in the 2018 Fortune 500 list of the largest United States corporations by total revenue 13 Contents 1 Origins and history 1 1 Acquisitions 1 2 Finance 1 3 Logo evolution 2 Products 2 1 Sports apparel 2 2 Street fashions 2 3 Collectibles 2 4 Virtual 3 Headquarters 4 Controversies 4 1 Sweatshops 4 2 Child labor allegations 4 3 Strike in China factory 4 4 Paradise Papers 4 5 Colin Kaepernick 4 6 Hong Kong protests 4 7 Nike Vaporfly Shoe 4 8 Lil Nas X Satan Shoes 4 9 Forced Uyghur labor allegations 5 Environmental record 5 1 Recycling 5 2 Sulfur hexafluoride 5 3 Toxic chemicals 5 4 Water pollution 5 5 Carbon footprint 5 6 Sustainability 6 Marketing strategy 6 1 Advertising 6 1 1 Beatles song 6 1 2 New media marketing 6 1 3 Minor Threat advertisement 6 1 4 Nike 6 0 6 2 NBA uniform deal 7 Sponsorship 8 Ties with the University of Oregon 9 Causes 10 Program 11 See also 12 Notes 13 References 14 Further reading 15 External linksOrigins and historySee also Nike timeline Bill Bowerman left conversing with Phil Knight second from left and two other members of the Oregon track team 1958 Nike Factory Store in Wisconsin A Nike Store in Harajuku Tokyo Japan Nike Kicks Lounge in Harbour City Hong Kong Nike originally known as Blue Ribbon Sports BRS was founded by University of Oregon track athlete Phil Knight and his coach Bill Bowerman on January 25 1964 14 The company initially operated in Eugene Oregon as a distributor for Japanese shoe maker Onitsuka Tiger making most sales at track meets out of Knight s automobile 14 According to Otis Davis a University of Oregon student athlete coached by Bowerman and Olympic gold medalist at the 1960 Summer Olympics his coach made the first pair of Nike shoes for him contradicting a claim that they were made for Phil Knight According to Davis I told Tom Brokaw that I was the first I don t care what all the billionaires say Bill Bowerman made the first pair of shoes for me People don t believe me In fact I didn t like the way they felt on my feet There was no support and they were too tight But I saw Bowerman made them from the waffle iron and they were mine 15 In its first year in business BRS sold 1 300 pairs of Japanese running shoes grossing 8 000 16 By 1965 sales had reached 20 000 In 1966 BRS opened its first retail store at 3107 Pico Boulevard in Santa Monica California In 1967 due to increasing sales BRS expanded retail and distribution operations on the East Coast in Wellesley Massachusetts 17 Vintage Nike waffle racer sneaker In 1971 Bowerman used his wife s waffle iron to experiment on rubber to create a new sole for track shoes that would grip but be lightweight and increase the runner s speed Oregon s Hayward Field was transitioning to an artificial surface and Bowerman wanted a sole which could grip to grass or bark dust without the use of spikes Bowerman was talking to his wife about this puzzle over breakfast when the waffle iron idea came into play 18 Bowerman s design led to the introduction of the Moon Shoe in 1972 so named because the waffle tread was said to resemble the footprints left by astronauts on the moon Further refinement resulted in the Waffle Trainer in 1974 which helped fuel the explosive growth of Blue Ribbon Sports Nike 19 20 By 1971 the relationship between BRS and Onitsuka Tiger came to an end BRS prepared to launch its own line of footwear which was rebranded as Nike and would bear the Swoosh newly designed by Carolyn Davidson 21 22 The Swoosh was first used by Nike on June 18 1971 23 and was registered with the U S Patent and Trademark Office on January 22 1974 24 25 In 1976 the company hired John Brown and Partners based in Seattle as its first advertising agency 26 The following year the agency created the first brand ad for Nike called There is no finish line in which no Nike product was shown 26 By 1980 Nike had attained a 50 market share in the U S athletic shoe market and the company went public in December of that year 27 Wieden Kennedy Nike s primary ad agency has worked with Nike to create many print and television advertisements and Wieden Kennedy remains Nike s primary ad agency 28 It was agency co founder Dan Wieden who coined the now famous slogan Just Do It for a 1988 Nike ad campaign 29 which was chosen by Advertising Age as one of the top five ad slogans of the 20th century and enshrined in the Smithsonian Institution 30 Walt Stack was featured in Nike s first Just Do It advertisement which debuted on July 1 1988 31 Wieden credits the inspiration for the slogan to Let s do it the last words spoken by Gary Gilmore before he was executed 32 Throughout the 1980s Nike expanded its product line to encompass many sports and regions throughout the world 33 In 1990 Nike moved into its eight building World Headquarters campus in Beaverton Oregon 34 The first Nike retail store dubbed Niketown opened in downtown Portland in November of that year 35 Phil Knight announced in mid 2015 that he would step down as chairman of Nike in 2016 36 37 He officially stepped down from all duties with the company on June 30 2016 38 In a company public announcement on March 15 2018 Nike CEO Mark Parker said Trevor Edwards a top Nike executive who was seen as a potential successor to the chief executive was relinquishing his position as Nike s brand president and would retire in August 39 In October 2019 John Donahoe was announced as the next CEO and succeeded Parker on January 13 2020 40 In November 2019 the company stopped selling directly through Amazon focusing more on direct relationships with customers 41 Acquisitions A Nike flagship store in Manhattan A Nike Factory Store in Vaughan Mills Nike has acquired and sold several apparel and footwear companies over the course of its history Its first acquisition was the upscale footwear company Cole Haan in 1988 42 followed by the purchase of Bauer Hockey in 1994 43 In 2002 Nike bought surf apparel company Hurley International from founder Bob Hurley 44 In 2003 Nike paid US 309 million to acquire sneaker company Converse 45 The company acquired Starter in 2004 46 and soccer uniform maker Umbro in 2007 47 In order to refocus its business lines Nike began divesting itself of some of its subsidiaries in the 2000s 48 It sold Starter in 2007 46 and Bauer Hockey in 2008 43 The company sold Umbro in 2012 49 and Cole Haan in 2013 50 As of 2020 Nike owns only one subsidiary Converse Inc citation needed Nike acquired Zodiac a consumer data analytics company in March 2018 51 In August 2019 the company acquired Celect a Boston based predictive analytics company 52 In December 2021 Nike purchased RTFKT Studios a virtual shoe company that makes NFTs 53 In February 2021 Nike acquired Datalogue a New York based company focused on digital sales and machine learning technology 54 Finance Nike was made a member of the Dow Jones Industrial Average in 2013 when it replaced Alcoa 55 On December 19 2013 Nike s quarterly profit rose due to a 13 percent increase in global orders for merchandise since April of that year Future orders of shoes or clothes for delivery between December and April rose to 10 4 billion Nike shares NKE rose 0 6 percent to 78 75 in extended trading 56 In November 2015 Nike announced it would initiate a 12 billion share buyback as well as a two for one stock split with shares to begin trading at the decreased price on December 24 57 The split will be the seventh in company history citation needed In June 2018 Nike announced it would initiate a 15 billion share buyback over four years to begin in 2019 upon completion of the previous buyback program 58 For the fiscal year 2018 Nike reported earnings of US 1 933 billion with annual revenue of US 36 397 billion an increase of 6 0 over the previous fiscal cycle Nike s shares traded at over 72 per share and its market capitalization was valued at over US 114 5 billion in October 2018 59 In March 2020 Nike reported a 5 drop in Chinese sales associated with stores closure due to the COVID 19 outbreak It was the first decrease in six years At the same time the company s online sales grew by 36 during Q1 of 2020 Also the sales of personal training apps grew by 80 in China 60 Year Revenuein mil USD Net incomein mil USD Total assetsin mil USD Price per sharein USD Employees2005 13 740 1 212 8 794 8 75 26 0002006 14 955 1 392 9 870 9 01 28 0002007 16 326 1 492 10 688 12 14 30 2002008 18 627 1 883 12 443 13 05 32 5002009 19 176 1 487 13 250 12 14 34 3002010 19 014 1 907 14 419 16 80 34 4002011 20 117 2 133 14 998 19 82 38 0002012 23 331 2 211 15 465 23 39 44 0002013 25 313 2 472 17 545 30 50 48 0002014 27 799 2 693 18 594 38 56 56 5002015 30 601 3 273 21 597 53 18 62 6002016 32 376 3 760 21 379 54 80 70 7002017 34 350 4 240 23 259 54 99 74 4002018 36 397 1 933 22 536 72 63 73 1002019 39 117 4 029 23 717 86 73 76 7002020 37 403 2 539 31 342 106 46 75 4002021 44 538 5 727 37 740 141 47 73 3002022 46 710 6 046 40 321 166 67 79 100Logo evolution See also Swoosh 1964 71 1971 78 1978 95 note2 1 1995 present Notes This logo is still used on some retro products with red boxesProductsSports apparel Nike Zoom Elite 2 athletic shoe A pair of Nike Air Jordan I basketball shoes Another example of the Nike Air Jordan Nike produces a wide range of sports equipment and apparel Their first products were track running shoes Nike Air Max is a line of shoes first released by Nike Inc in 1987 Additional product lines were introduced later such as Air Huarache which debuted in 1992 The most recent additions to their line are the Nike 6 0 Nike NYX and Nike SB shoes designed for skateboarding Nike has recently introduced cricket shoes called Air Zoom Yorker designed to be 30 lighter than their competitors 61 In 2008 Nike introduced the Air Jordan XX3 a high performance basketball shoe designed with the environment in mind Nike s range of products include shoes jerseys shorts cleats baselayers etc for sports activities such as association football 62 basketball track and field combat sports tennis American football athletics golf ice hockey and cross training for men women and children Nike also sells shoes for activities such as skateboarding baseball cycling volleyball wrestling cheerleading lacrosse cricket aquatic activities auto racing and other athletic and recreational uses Nike recently teamed up with Apple Inc to produce the Nike product that monitors a runner s performance via a radio device in the shoe that links to the iPod nano While the product generates useful statistics it has been criticized by researchers who were able to identify users RFID devices from 60 feet 18 m away using small concealable intelligence motes in a wireless sensor network 63 64 In 2004 Nike launched the SPARQ Training Program Division 65 Some of Nike s newest shoes contain Flywire and Lunarlite Foam to reduce weight 66 The Air Zoom Vomero running shoe introduced in 2006 and currently in its 11th generation featured a combination of groundbreaking innovations including a full length air cushioned sole 67 an external heel counter a crashpad in the heel for shock absorption and Fit Frame technology for a stable fit 68 In 2023 Nike told ESPN that it would cease using kangaroo skins in its products by the end of that year and debut a new Nike only proprietary synthetic upper with a new material that is a better performance solution and replaces the use of kangaroo leather 69 Nike Vaporfly Nike Vaporfly cut in half to show the different layers that make up the base of the shoe The dark grey line shows the carbon fiber plate Nike cleat The Nike Vaporfly first came out in 2017 and their popularity along with its performance prompted a new series of running shoes 70 71 The Vaporfly series has a new technological composition that has revolutionized long distance running since studies have shown that these shoes can improve marathon race time up to 4 2 71 The composition of the sole contains a foamy material Pebax that Nike has altered and now calls it ZoomX which can be found in other Nike products as well Pebax foam can also be found in airplane insulation and is squishier bouncier and lighter than foams in typical running shoes 71 In the middle of the ZoomX foam there is a full length carbon fiber plate designed to generate extra spring in every step 71 At the time of this writing Nike had just released its newest product from the Vaporfly line the Nike ZoomX Vaporfly NEXT which was marketed as the fastest shoe we ve ever made using Nike s two most innovative technologies Nike ZoomX foam and VaporWeave material 72 Street fashions This section relies excessively on references to primary sources Please improve this section by adding secondary or tertiary sources Find sources Nike Inc news newspapers books scholar JSTOR January 2022 Learn how and when to remove this template message Nike Elite no show socks with cushioned sole The Nike brand with its distinct V shaped logo quickly became regarded as a status symbol 73 in modern urban fashion and hip hop fashion 74 due to its association with success in sport 75 Beginning in the 1980s various items of Nike clothing became staples of mainstream American youth fashion especially tracksuits shell suits baseball caps Air Jordans Air Force 1 s and Air Max running shoes 76 with thick air cushioned rubber soles and contrasting blue yellow green white or red trim 77 Limited edition sneakers and prototypes with a regional early release were known as Quickstrikes 78 and became highly desirable items 79 for teenage members of the sneakerhead subculture 80 By the 1990s and 2000s American and European teenagers 81 associated with the preppy 82 or popular clique 83 began combining these sneakers 84 leggings sweatpants crop tops 85 and tracksuits with regular casual chic 86 street clothes 87 such as jeans skirts leg warmers slouch socks and bomber jackets Particularly popular citation needed were the unisex spandex Nike Tempo compression shorts 88 worn for cycling and running which had a mesh lining waterproofing and later in the 2000s a zip pocket for a Walkman or MP3 player 89 From the late 2000s into the 2010s Nike Elite basketball socks began to be worn as everyday clothes by hip hop fans and young children 90 Originally plain white or black these socks had special shock absorbing cushioning in the sole 91 plus a moisture wicking upper weave 92 Later Nike Elite socks became available in bright colors inspired by throwback basketball uniforms 93 often with contrasting bold abstract designs images of celebrities 94 and freehand digital print 95 to capitalise upon the emerging nostalgia for 1990s fashion In 2015 a new self lacing shoe was introduced Called the Nike Mag which are replicas of the shoes featured in Back to the Future Part II it had a preliminary limited release only available by auction with all proceeds going to the Michael J Fox Foundation 96 This was done again in 2016 97 Nike have introduced a premium line focused more on streetwear than sports wear called NikeLab 98 In March 2017 Nike announced its launch of a plus size clothing line which will feature new sizes 1X through 3X on more than 200 products 99 Another significant development at this time was the Chuck Taylor All Star Modern an update of the classic basketball sneaker that incorporated the circular knit upper and cushioned foam sole of Nike s Air Jordans 100 Collectibles On July 23 2019 a pair of Nike Inc running shoes sold for 437 500 at a Sotheby s auction The so called Moon Shoes were designed by Nike co founder and track coach Bill Bowerman for runners participating in the 1972 Olympics trials The buyer was Miles Nadal a Canadian investor and car collector who had just paid 850 000 for a group of 99 rare of limited collection pairs of sport shoes The purchase price was the highest for one pair of sneakers the previous record being 190 373 in 2017 for a pair of signed Converse shoes in California said to have been worn by Michael Jordan during the 1984 basketball final of the Olympics that year 101 Virtual After acquiring RTFKT Nike launched the Dunk Genesis Cryptokicks collection which features over 20 000 NFTs 102 One design by Takashi Murakami was sold for 134 000 in April 2022 103 Headquarters Nike World Headquarters near Beaverton Oregon Main article Nike World Headquarters Nike s world headquarters are surrounded by the city of Beaverton but are within unincorporated Washington County The city attempted to forcibly annex Nike s headquarters which led to a lawsuit by Nike and lobbying by the company that ultimately ended in Oregon Senate Bill 887 of 2005 Under that bill s terms Beaverton is specifically barred from forcibly annexing the land that Nike and Columbia Sportswear occupy in Washington County for 35 years while Electro Scientific Industries and Tektronix receive the same protection for 30 years 104 Nike is planning to build a 3 2 million square foot expansion to its World Headquarters in Beaverton 105 The design will target LEED Platinum certification and will be highlighted by natural daylight and a gray water treatment center 105 ControversiesNike has contracted with more than 700 shops around the world and has offices located in 45 countries outside the United States 106 Most of the factories are located in Asia including Indonesia China Taiwan India 107 Thailand Vietnam Pakistan Philippines and Malaysia 108 Nike is hesitant to disclose information about the contract companies it works with However due to harsh criticism from some organizations like CorpWatch Nike has disclosed information about its contract factories in its Corporate Governance Report Sweatshops Main article Nike sweatshops In the 1990s Nike received criticism for its use of sweatshops 109 110 Beginning in 1990 many protests occurred in big cities such as Los Angeles 111 Washington DC and Boston in order to show public outcry for Nikes use of child labor and sweatshops Nike has been criticized for contracting with factories known as Nike sweatshops in countries such as China Vietnam Indonesia and Mexico Vietnam Labor Watch an activist group has documented that factories contracted by Nike have violated minimum wage and overtime laws in Vietnam as late as 1996 although Nike claims that this practice has been stopped 112 The company has been subject to much critical coverage of the often poor working conditions and exploitation of cheap overseas labor employed in the free trade zones where their goods are typically manufactured Sources for this criticism include Naomi Klein s book No Logo and Michael Moore documentaries Campaigns have been taken up by many colleges and universities especially anti globalisation groups as well as several anti sweatshop groups such as the United Students Against Sweatshops 113 As of July 2011 Nike stated that two thirds of its factories producing Converse products still do not meet the company s standards for worker treatment A July 2011 Associated Press article stated that employees at the company s plants in Indonesia reported constant abuse from supervisors 114 Child labor allegations During the 1990s Nike faced criticism for the use of child labor in Cambodia and Pakistan in factories it contracted to manufacture soccer balls Although Nike took action to curb or at least reduce the practice they continue to contract their production to companies that operate in areas where inadequate regulation and monitoring make it hard to ensure that child labor is not being used 115 In 2001 a BBC documentary uncovered occurrences of child labor and poor working conditions in a Cambodian factory used by Nike 116 The documentary focused on six girls who all worked seven days a week often 16 hours a day Strike in China factory In April 2014 one of the biggest strikes in mainland China took place at the Yue Yuen Industrial Holdings Dongguan shoe factory producing amongst others for Nike Yue Yuen did underpay an employee by 250 yuan 40 82 US Dollars per month The average salary at Yue Yuen is 3000 yuan per month The factory employs 70 000 people This practice was in place for nearly 20 years 117 118 119 Paradise Papers Main article Paradise Papers Nike office in North America On November 5 2017 the Paradise Papers a set of confidential electronic documents relating to offshore investment revealed that Nike is among the corporations that used offshore companies to avoid taxes 120 121 122 Appleby documents detail how Nike boosted its after tax profits by among other maneuvers transferring ownership of its Swoosh trademark to a Bermudan subsidiary Nike International Ltd This transfer allowed the subsidiary to charge royalties to its European headquarters in Hilversum Netherlands effectively converting taxable company profits to an account payable in tax free Bermuda 123 Although the subsidiary was effectively run by executives at Nike s main offices in Beaverton Oregon to the point where a duplicate of the Bermudan company s seal was needed for tax purposes the subsidiary was treated as Bermuda Its profits were not declared in Europe and came to light only because of a mostly unrelated case in US Tax Court where papers filed by Nike briefly mention royalties in 2010 2011 and 2012 totaling 3 86 billion 123 Under an arrangement with Dutch authorities the tax break was to expire in 2014 so another reorganization transferred the intellectual property from the Bermudan company to a Dutch commanditaire vennootschap or limited partnership Nike Innovate CV Dutch law treats income earned by a CV as if it had been earned by the principals who owe no tax in the Netherlands if they do not reside there 123 Colin Kaepernick In September 2018 Nike announced it had signed former American football quarterback Colin Kaepernick noted for his controversial decision to kneel during the playing of the US national anthem to a long term advertising campaign 124 According to Charles Robinson of Yahoo Sports Kaepernick and Nike agreed to a new contract despite the fact Kaepernick has been with the company since 2011 and said that interest from other shoe companies played a part in the new agreement Robinson said the contract is a wide endorsement where Kaepernick will have his own branded line including shoes shirts jerseys and more According to Robinson Kaepernick signed a star contract that puts him level with a top end NFL player worth millions per year plus royalties 125 In response some people set fire to their own Nike branded clothes and shoes or cut the Nike swoosh logo out of their clothes and the Fraternal Order of Police called the advertisement an insult 126 127 128 others such as LeBron James 129 Serena Williams 130 and the National Black Police Association 128 praised Nike for its campaign The College of the Ozarks removed Nike from all their athletic uniforms in response 131 During the following week Nike s stock price fell 2 2 even as online orders of Nike products rose 27 compared with the previous year 132 In the following three months Nike reported a rise in sales 133 In July 2019 Nike released a shoe featuring a Betsy Ross flag called the Air Max 1 Quick Strike Fourth of July trainers The trainers were designed to celebrate Independence Day The model was subsequently withdrawn after Colin Kaepernick told the brand he and others found the flag offensive because of its association with slavery 134 135 136 Nike s decision to withdraw the product drew criticism from Arizona s Republican Governor Doug Ducey and Texas s Republican Senator Ted Cruz 137 Nike s decision was praised by others due to the use of the flag by white nationalists 136 but the Anti Defamation League s Center on Extremism has declined to add the flag to its database of hate symbols 138 Hong Kong protests U S Vice President Mike Pence criticized Nike for siding with the Chinese Communist Party and silencing free speech He claimed that after Houston Rockets general manager Daryl Morey was criticized by the Chinese government for his tweet supporting the 2019 Hong Kong protests Nike removed Rockets merchandise from its stores in China 139 He stated that the brand promotes itself as a so called social justice champion but when it comes to Hong Kong it prefers checking its social conscience at the door 140 Nike Vaporfly Shoe Main article Nike Vaporfly and Tokyo 2020 Olympics Controversy On January 31 2020 the World Athletics issued new guidelines concerning shoes to be used in the upcoming Tokyo 2020 Olympics 141 These updates came in response to criticisms concerning technology in the Nike Vaporfly running shoes which had been submitted beginning around 2017 2018 142 These criticisms stated that the shoes provided athletes with an unfair advantage over their opponents and some critics considered it to be a form of technology doping 71 143 According to Nike funded research the shoes can improve efficiency by up to 4 2 71 and runners who have tested the shoe are saying that it causes reduced soreness in the legs sports technologist Bryce Dyer attributes this to the ZoomX and carbon fiber plate since it absorbs the energy and spring s runners forward 143 Some athletes scientists and fans have compared this to the 2008 LAZR swimsuit controversy 144 Some of the major changes in the guidelines that have come about as a result of these criticisms include that the sole must be no thicker than 40mm and that the shoe must not contain more than one rigid embedded plate or blade of any material that runs either the full length or only part of the length of the shoe The plate may be in more than one part but those parts must be located sequentially in one plane not stacked or in parallel and must not overlap The components of the shoes are not the only thing that had major changes starting April 30 2020 any shoe must have been available for purchase by any athlete on the open retail market online or in store for a period of four months before it can be used in competition 141 Prior to these new guidelines World Athletics reviewed the Vaporfly shoes and concluded that there is independent research that indicates that the new technology incorporated in the soles of road and spiked shoes may provide a performance advantage and that it recommends further research to establish the true impact of the Vaporfly technology 141 Lil Nas X Satan Shoes On March 29 2021 American rapper Lil Nas X partnered with New York based art collective MSCHF to release a modified pair of Nike Air Max 97s called Satan Shoes 145 The shoes are black and red with a bronze pentagram featuring the Bible verse Luke 10 18 and are filled with 60cc and 1 drop of human blood Only 666 pairs were created and were sold at a price of 1 018 Nike immediately iterated that they were uninvolved in the creation and promotion of the shoes and did not endorse the messages of Lil Nas X or MSCHF 146 Nike filed a trademark lawsuit against MSCHF with the New York federal Court in an effort to stop the distribution of the shoes On April 1 a federal judge ordered a temporary restraining order blocking the sale and distribution of the shoes pending a preliminary injunction 147 Forced Uyghur labor allegations See also Uyghur Forced Labor Prevention Act In December 2021 the European Center for Constitutional and Human Rights filed a criminal complaint in a Dutch court against Nike and other brands alleging that they benefited from the use of forced Uyghur labor in Xinjiang 148 Environmental recordIn 2007 New England based environmental organization Clean Air Cool Planet ranked Nike among the top three companies out of 56 in a survey of climate friendly companies 149 Recycling Nike has also been praised for its Nike Grind program which closes the product lifecycle by groups such as Climate Counts 150 Since 1993 Nike has worked on its Reuse A Shoe program 151 This program is Nike s longest running program that benefits both the environment and the community by collecting old athletic shoes of any type in order to process and recycle them The material that is produced is then used to help create sports surfaces such as basketball courts running tracks and playgrounds 151 Nike France made their Reuse A Shoe program available online so that they could make it easier for consumers to send in their old shoes 152 In 2017 it was estimated that 28 000 000 shoes were collected since its start in 1993 Nike limited the mail in option of the program because they are aware that the emissions from shipping would offset the good they are trying to do They work with the National Recycling Coalition to help limit transportation of recycled shoes During transportation most of the vehicles that are used are using diesel or fuel oil 153 Diesel oil emits 22 44 pounds of Carbon Dioxide per gallon 154 A campaign that Nike began for Earth Day 2008 was a commercial that featured basketball star Steve Nash wearing Nike s Trash Talk Shoe which had been constructed in February 2008 from pieces of leather and synthetic leather waste from factory floors The Trash Talk Shoe also featured a sole composed of ground up rubber from a shoe recycling program Nike claims this is the first performance basketball shoe that has been created from manufacturing waste but it only produced 5 000 pairs for sale 155 Sulfur hexafluoride Sulfur hexafluoride is an extremely potent and persistent greenhouse gas that was used to fill the cushion bags in all Air branded shoes from 1992 to 2006 156 277 tons was used during the peak in 1997 157 Toxic chemicals In 2008 a project through the University of North Carolina at Chapel Hill found workers were exposed to toxic isocyanates and other chemicals in footwear factories in Thailand In addition to inhalation dermal exposure was the biggest problem found This could result in allergic reactions including asthmatic reactions 158 159 Water pollution In July 2011 environmental group Greenpeace published a report regarding water pollution impacting the Yangtze River emitted from a major textile factory operated by Nike supplier Youngor Group 160 Following the report Nike as well as Adidas Puma and a number of other brands included in the report announced an agreement to stop discharging hazardous chemicals by 2020 161 However in July 2016 Greenpeace released a follow up report which found that Nike does not take individual responsibility for eliminating hazardous chemicals stating that Nike had not made an explicit commitment to riding itself of perfluorinated compounds and that Nike does not ensure its suppliers report their hazardous chemical discharge data and has not made a commitment to do so 162 Back in 2016 Nike started to use water free dyeing materials so that they can help reduce their water use in their Southeast Asian factories 163 Carbon footprint Nike reported Total CO2e emissions Direct Indirect for the twelve months ending 30 June 2020 at 317 Kt 12 4 y o y 164 and plans to reduce emissions 65 by 2030 from a 2015 base year 165 This science based target is aligned with Paris Agreement to limit global warming to 1 5 C above pre industrial levels 166 According to a study done in 2017 Nike contributed 3 002 529 metric tons of Carbon Dioxide in 2017 combined from different sectors in the company like retail manufacturing management and more 153 Nike s annual Total CO2e Emissions Location Based Scope 1 Scope 2 in kilotonnes Jun 2015 Jun 2016 Jun 2017 Jun 2018 Jun 2019 Jun 2020286 167 300 168 327 169 301 170 305 171 317 164 Partnership with NewlightIn 2021 Nike announced they were working with Newlight Technologies to find more eco friendly materials for their sneakers They specifically mentioned Newlight s AirCarbon product which is a bioplastic that can be used to make shoes The bioplastic is used as a replacement to leather plastic and other materials that are like that 172 Newlight was reported saying that the goal is to reduce Nike s carbon footprint 173 Sustainability Nike Inc has been committed to fighting climate change by becoming a sustainable business Even as they continue to grow they have still achieved reducing their environmental impact The company acknowledges both triumphs and problems in its FY12 13 Sustainable Business Performance Summary while they are making progress in major impact areas such as climate and energy labor chemistry water waste and community The company s progress is evidenced by an absolute reduction in carbon emissions of close to 3 across the whole value chain from its FY11 baseline though sales increased by 26 during the same year 174 Production increased as the company met its strategic goal of sourcing from fewer higher performing contract factories with a 14 decrease from 910 to 785 plants during the last two years 174 Nike Inc is investing in sustainable materials and production techniques in addition to lowering their carbon footprint to combat climate change A variety of environmentally friendly items created with materials including recycled polyester organic cotton and water based adhesives have been introduced by Nike For fiscal year 2015 the company enhanced water efficiency by 15 per unit in clothing materials dyeing and finishing and footwear manufacturing as well as achieved a 20 reduction in CO2 emissions and a 10 decrease in waste 175 Additionally they have used cutting edge manufacturing techniques that lessen waste production and the overall environmental impact of their products In 2019 Nike began an innovative program called Move to Zero which is an effort to achieve zero waste and zero carbon in the organization s supply chain and product lifetime The project comprises a variety of tactics including boosting the use of sustainable materials investing in renewable energy and enhancing energy efficiency The efficiency of designs calculated for the Move to Zero collection is 90 or higher which means that almost all of the fabric used in production ends up in the garment rather than in the trash 176 The men s and women s sections of the collection contain at least 60 organic and recycled materials including sustainably sourced cotton 176 Marketing strategyNike promotes its products through sponsorship agreements with celebrity athletes professional teams and college athletic teams Advertising In 1982 Nike aired its first three national television ads created by newly formed ad agency Wieden Kennedy W K during the broadcast of the New York Marathon 177 The Cannes Advertising Festival has named Nike its Advertiser of the Year in 1994 and 2003 making it the first company to receive that honor twice 178 Nike also has earned the Emmy Award for best commercial in 2000 and 2002 The first was for The Morning After a satirical look at what a runner might face on the morning of January 1 2000 if every dire prediction about the Y2K problem came to fruition 179 The second was for a 2002 spot called Move which featured a series of famous and everyday athletes in a variety of athletic pursuits 180 Beatles song Nike was criticized for its use of the Beatles song Revolution in a 1987 commercial against the wishes of Apple Records the Beatles recording company Nike paid US 250 000 to Capitol Records Inc which held the North American licensing rights to the recordings for the right to use the Beatles rendition for a year 181 That same year Apple Records sued Nike Inc Capitol Records Inc EMI Records Inc and Wieden Kennedy for 15 million 181 Capitol EMI countered by saying the lawsuit was groundless because Capitol had licensed the use of Revolution with the active support and encouragement of Yoko Ono a shareholder and director of Apple Records Nike discontinued airing ads featuring Revolution in March 1988 Yoko Ono later gave permission to Nike to use John Lennon s Instant Karma in another advertisement New media marketing Nike was an early adopter of internet marketing email management technologies and using broadcast and narrowcast communication technologies to create multimedia marketing campaigns Minor Threat advertisementIn late June 2005 Nike received criticism from Ian MacKaye owner of Dischord Records guitarist vocalist for Fugazi and The Evens and front man of the defunct punk band Minor Threat for appropriating imagery and text from Minor Threat s 1981 self titled album s cover art in a flyer promoting Nike Skateboarding s 2005 East Coast demo tour 182 On June 27 Nike Skateboarding s website issued an apology to Dischord Minor Threat and fans of both and announced that they have tried to remove and dispose of all flyers They stated that the people who designed it were skateboarders and Minor Threat fans themselves who created the advertisement out of respect and appreciation for the band 183 The dispute was eventually settled out of court between Nike and Minor Threat Niketown at Oxford Circus London Nike 6 0 As part of the 6 0 campaign Nike introduced a new line of T shirts that include phrases such as Dope Get High and Ride Pipe sports lingo that is also a double entendre for drug use Boston Mayor Thomas Menino expressed his objection to the shirts after seeing them in a window display at the city s Niketown and asked the store to remove the display What we don t need is a major corporation like Nike which tries to appeal to the younger generation out there giving credence to the drug issue Menino told The Boston Herald A company official stated the shirts were meant to pay homage to extreme sports and that Nike does not condone the illegal use of drugs 184 Nike was forced to replace the shirt line 185 NBA uniform deal In June 2015 Nike signed an 8 year deal with the NBA to become the official uniform supplier for the league beginning with the 2017 18 season 186 The brand took over for Adidas who provided the uniforms for the league since 2006 186 Unlike previous deals Nike s logo appear on NBA jerseys a first for the league 186 Initially the Charlotte Hornets owned by longtime Nike endorser Michael Jordan were the only team not to sport the Nike swoosh instead wearing the Jumpman logo associated with Jordan related merchandise 187 However beginning with the 2020 21 season the Jumpman replaced the swoosh on the NBA s alternate Statement uniforms 188 SponsorshipMain article List of Nike sponsorships Michael Jordan pictured in 1987 helped drive Nike sales Nike sponsors top athletes in many sports to use their products and promote and advertise their technology and design Nike s first professional athlete endorser was Romanian tennis player Ilie Năstase 22 The first track endorser was distance runner Steve Prefontaine Prefontaine was the prized pupil of the company s co founder Bill Bowerman while he coached at the University of Oregon Today the Steve Prefontaine Building is named in his honor at Nike s corporate headquarters Nike has only made one statue of its sponsored athletes and it is of Steve Prefontaine 189 Nike has also sponsored many other successful track and field athletes over the years such as Sebastian Coe Carl Lewis Jackie Joyner Kersee Michael Johnson and Allyson Felix The signing of basketball player Michael Jordan in 1984 with his subsequent promotion of Nike over the course of his career with Spike Lee as Mars Blackmon proved to be one of the biggest boosts to Nike s publicity and sales 190 Ronaldinho pictured with Barcelona in 2007 appeared in a 2005 Nike advertisement that went viral on YouTube becoming the site s first video to reach one million views 191 192 Nike is a major sponsor of the athletic programs at Penn State University and named its first child care facility after Joe Paterno when it opened in 1990 at the company s headquarters Nike originally announced it would not remove Paterno s name from the building in the wake of the Penn State sex abuse scandal After the Freeh Report was released on July 12 2012 Nike CEO Mark Parker announced the name Joe Paterno would be removed immediately from the child development center A new name has yet to be announced 193 194 Nike Hypervenom 3 boots were commissioned for French prodigy Kylian Mbappe In the early 1990s Nike made a strong push into the association football business making endorsement deals with famous and charismatic players such as Romario Eric Cantona or Edgar Davids They continued the growth in the sport by signing more top players including Ronaldo Ronaldinho Francesco Totti Thierry Henry Didier Drogba Andres Iniesta Wayne Rooney and still have many of the sport s biggest stars under their name with Cristiano Ronaldo Zlatan Ibrahimovic Neymar Harry Kane Eden Hazard and Kylian Mbappe among others 195 Nike has been the official ball supplier for the Premier League since the 2000 01 season 196 In 2012 Nike carried a commercial partnership with the Asian Football Confederation 197 In August 2014 Nike announced that they will not renew their kit supply deal with Manchester United after the 2014 15 season citing rising costs 198 Since the start of the 2015 16 season Adidas has manufactured Manchester United s kit as part of a world record 10 year deal worth a minimum of 750 million 199 Nike logo in the Camp Nou the home stadium of Barcelona Nike still has many of the top teams playing in their uniforms including FC Barcelona Paris Saint Germain and Liverpool the latter from the 2020 21 season 200 and the national teams of Brazil France England Portugal and the Netherlands among many others Ticket for the Nike International Tennis Exhibition John McEnroe vs Carl Uwe Steeb Munich 1989 Nike has been the sponsor for many top ranked tennis players Brand s commercial success in the sport went hand in hand with the endorsement deals signed with the biggest and the world s most charismatic stars and number one ranked players of the subsequent eras including John McEnroe in the 1980s Andre Agassi and Pete Sampras in the 1990s and Roger Federer Rafael Nadal Serena Williams and Maria Sharapova with the start of the 21st century 201 Tiger Woods Nike has sponsored Tiger Woods for much of his career and remained on his side amid the controversies that shaped the golfer s career 202 In January 2013 Nike signed Rory McIlroy the then No 1 golfer in the world to a 10 year sponsorship deal worth 250 million 203 Nike has also gone on to sign top players in golf including Scottie Scheffler Nelly Korda Tommy Fleetwood Tony Finau Jason Day and Francesco Molinari Nike was the official kit sponsor for the Indian cricket team from 2005 to 2020 204 205 On February 21 2013 Nike announced it suspended its contract with South African limbless athlete Oscar Pistorius due to him being charged with premeditated murder 206 Nike consolidated its position in basketball in 2015 when it was announced that the company would sign an 8 year deal with the NBA taking over from the league s previous uniform sponsor Adidas The deal required all franchise team members to wear jerseys and shorts with the Swoosh logo beginning with the 2017 18 season 207 After the success of partnership with Jordan which resulted in the creation of the unique Air Jordan brand Nike has continued to build partnership with the biggest names in basketball LeBron James was given the Slogan We are All Witnesses when he signed with Nike Similar to Air Jordan LeBron s brand became massively popular The slogan was an extremely accurate way to describe the situation LeBron was heading into in the NBA as he was expected to be the new king of the NBA 208 Some have had signature shoes designed for them including Kobe Bryant Jason Kidd Vince Carter and more recently LeBron James Kevin Durant Giannis Antetokounmpo and Paul George among others 209 210 211 212 213 214 A news report originating from CNN reported that Nike spent 11 5 billion nearly a third of its sales on marketing and endorsement contracts in the year 2018 Nike and its Jordan brand sponsored 85 men s and women s basketball teams in the NCAA tournament 215 Ties with the University of OregonSee also Nike and the University of Oregon Nike maintains strong ties both directly and through partnerships with Phil Knight with the University of Oregon 216 Nike designs the University of Oregon football program s team attire 217 New unique combinations are issued before every game day 216 Tinker Hatfield who also redesigned the university s logo leads this effort 218 More recently the corporation donated 13 5 million towards the renovation and expansion of Hayward Field 219 Phil Knight has invested substantial personal funds towards developing and maintaining the university s athletic apparatus 220 His university projects often involve input from Nike designers and executives such as Tinker Hatfield 218 CausesIn 2012 Nike is listed as a partner of the PRODUCT RED campaign together with other brands such as Girl American Express and Converse The campaign s mission is to prevent the transmission of HIV from mother to child The campaign s byline is Fighting For An AIDS Free Generation The company s goal is to raise and send funds for education and medical assistance to those who live in areas heavily affected by AIDS 221 In 2023 Nike became the presenting sponsor of Reviving Baseball in Inner Cities which encourages youth in underserved communities to participate in baseball and softball 222 ProgramThe Nike Community Ambassador Program allows Nike employees from around the world to go out and give to their community Over 3 900 employees from various Nike stores have participated in teaching children to be active and healthy 223 See alsoBruce Brenn Dick Donahue Nike timeline Breaking2 A project by Nike to break the 2 hour marathon barrier List of companies based in OregonPortals Companies Oregon United StatesNotes The pronunciations of Nike include ˈ n aɪ k i listen NY kee officially and in the US as well as n aɪ k NYKE in the UK 2 3 References US SEC 2022 Form 10 K NIKE Inc U S Securities and Exchange Commission July 21 2022 Nike is pronounced Nikey confirms guy who ought to know The Independent June 2 2014 Archived from the original on June 21 2022 Retrieved July 20 2021 It s official Nike rhymes with spiky and you re saying all these wrong too the Guardian June 3 2014 Retrieved January 13 2023 Contact Nike Inc Nike Inc Archived from the original on June 30 2021 Retrieved June 29 2021 Nike annual revenue worldwide 2022 Statista Retrieved February 19 2023 Sage Alexandria June 26 2008 Nike profit up but shares tumble on U S concerns Reuters Retrieved July 10 2008 Levinson Philip How Nike almost ended up with a very different name 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The bizarre inspiration behind Nike s first pair of running shoes Business Insider Retrieved April 26 2018 Holt Douglas Cameron Douglas November 1 2010 Cultural Strategy Using Innovative Ideologies to Build Breakthrough Brands Oxford University Press pp 41 ISBN 978 0 19 958740 7 Retrieved November 1 2011 Scheerder Jeroen 2010 Vlaanderen loopt Sociaal wetenschappelijk onderzoek naar de loopsportmarkt Academia Press pp 75 ISBN 978 90 382 1484 9 Retrieved November 1 2011 Logos that became legends Icons from the world of advertising The Independent January 4 2008 Retrieved February 11 2010 a b Meyer Jack August 14 2019 History of Nike Timeline and Facts TheStreet com Retrieved January 26 2020 Hunt Joshua 2018 University of Nike How Corporate Cash Bought American Higher Education Brooklyn NY Melville House p 22 ISBN 978 1 61219 691 6 Murphy Cait 2016 A History of American Sports in 100 Objects New York Basic Books p 1973 ISBN 978 0 465 09775 3 Registration Number 72414177 TSDR U S Patent 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buildings Now there are 22 buildings Brettman Allan October 27 2011 NikeTown Portland to close forever at its original location on Friday The Oregonian Retrieved December 23 2016 Wightman Stone Danielle July 1 2015 Nike chairman Phil Knight to step down in 2016 FashionUnited Retrieved July 1 2015 Bain Marc June 30 2015 How Phil Knight turned the Nike brand into a global powerhouse Quartz Retrieved January 26 2020 Vinton Kate June 30 2016 Nike Cofounder And Chairman Phil Knight Officially Retires From The Board FashionUnited Retrieved February 17 2018 Hsu Tiffany March 16 2018 Nike Executive Resigns C E O Addresses Workplace Behavior Complaints The New York Times Turner Nick October 22 2019 Nike Taps EBay Veteran John Donahoe to Succeed Parker as CEO Bloomberg LP Retrieved October 22 2019 Hanbury Mary November 13 2019 Nike confirms that it is no longer selling its products on Amazon Business Insider Retrieved January 26 2020 COMPANY NEWS Cole Haan to Nike For 80 Million The New York Times April 26 1988 a b Austen Ian February 22 2008 Hockey Fan and Investor Buys Bauer From Nike The New York Times Connelly Laylan January 22 2013 Bob Hurley Success built on everyone s inner surfer Orange County Register Retrieved February 13 2013 Partlow Joshua July 2003 Nike Drafts An All Star The Washington Post Archived from the original on March 5 2010 Retrieved June 2 2008 a b Nike unloads Starter for 60M Portland Business Journal November 15 2007 Retrieved February 13 2013 Townsend Matt October 24 2012 Iconix Brand Buys Nike s Umbro Soccer Unit for 225 Million BloombergBusinessweek Archived from the original on October 25 2012 Retrieved February 13 2013 Dezember Ryan October 24 2012 After Umbro Nike Turns to Cole Haan Sale The Wall Street Journal Retrieved February 12 2013 Stevens Suzanne December 3 2012 Nike completes Umbro sale to Iconix Portland Business Journal Retrieved February 13 2013 Nike completes Cole Haan sale Portland Business Journal February 4 2013 Retrieved February 13 2013 Nike s purchase of analytics firm Zodiac highlights focus on customer lifetime value ZDNet Retrieved June 22 2022 Thomas Lauren August 6 2019 Nike acquires A I platform Celect hoping to better predict shopping behavior CNBC Retrieved June 22 2022 Lawler Richard December 13 2021 Nike just bought a virtual shoe company that makes NFTs and sneakers for the metaverse The Verge Retrieved June 22 2022 Kish Matthew February 8 2021 Nike acquires Datalogue as part of continued digital shift Portland Business Journal Retrieved February 8 2021 Goldwyn Blumenthal Robin Alcoa s CEO Is Remaking the Industrial Giant Barron s Barron s Retrieved September 13 2015 Nike Fiscal 2nd Quarter Profit Jumps 40 Percent ABC News December 19 2013 Scholer Kristen November 20 2015 What Nike s Two For One Stock Split Means for the Dow The Wall Street Journal Retrieved December 1 2015 Nike surges after beating on earnings and announcing 15 billion in buybacks NKE Markets Insider markets 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Drops Tomorrow Dan Hajducky Nike Puma to stop using kangaroo leather in soccer boots all products ESPN 13 March 2023 Factbox Nike s Vaporfly running shoes and tumbling records Reuters January 24 2020 Retrieved March 10 2020 a b c d e f Bachman Rachel Safdar Khadeeja January 31 2020 Nike Vaporfly Shoes Won t Be Banned From Olympics WSJ Nike Vaporfly Featuring the new Vaporfly NEXT Nike com Retrieved March 11 2020 McKee Alan April 15 2008 Beautiful things in popular culture Wiley p 106 ISBN 9781405178556 Retrieved April 2 2016 Goldman Peter Papson Stephen 1998 Nike Culture The Sign of the Swoosh SAGE pp 88 102 ISBN 9780761961499 Retrieved April 2 2016 Carbasho Tracy 2010 Nike ABC CLIO p 17 ISBN 9781598843439 Retrieved April 2 2016 Nike s High Stepping Air Force Popular Mechanics Hearst Magazines August 1987 p 33 Retrieved April 2 2016 Media Working Mother August 1987 Nike advert Working Mother p 76 Retrieved April 2 2016 Five Easy Steps to Re Selling Your Sneakers on the Internet GQ September 29 2015 New Nike Air Max Plus Colorways Are on the Way Highsnobiety November 2 2021 Sneaker Watch Peterson Hayley Here s How Teens Really Spend Money What They Like And Where They Shop Business Insider Haig Matt July 12 2005 Brand Failures The Truth about the 100 Biggest Branding Mistakes of All Time Kogan Page Publishers ISBN 9780749444334 via Google Books McWilliams Tracy March 1 2012 Dress to Express Seven Secrets to Overcoming Closet Trauma and Revealing Your Inner Beauty New World Library ISBN 9781608681495 via Google Books 26 signs you re the absolute queen of basic bitches hannahgale co uk January 22 2015 Archived from the original on January 25 2015 7 Basic Fall Looks to Embrace Your Inner Basic Vogue September 19 2014 Nike could be J Crew s toughest rival Money Times September 7 2015 A comprehensive manual on becoming an EX4 basic betch University of Exeter October 21 2015 Nike Tempo trend Archived from the original on April 13 2016 Retrieved April 2 2016 Running for beginners Imagine 2013 p 240 ISBN 9781908955111 Retrieved April 2 2016 Fielders Suzy The Young amp the Stylish Winston Salem Journal Introducing the Nike Elite Colorful socks no longer a fad Dr Jays Archived from the original on April 16 2016 Retrieved April 2 2016 These Aaliyah Nino Brown and Eazy E Nike Elite Socks Can t Be Real Life Complex Nike Elite Is Releasing Socks Using Its Digital Ink Printing Process in Limited Quantities Complex The 2015 Nike Mag NIKE Inc Retrieved October 23 2015 Rooney Kyle October 21 2016 The Michael J Fox Foundation does raffle with Nike to raise awareness for Parkinson s disease Hotnewhiphop Retrieved October 21 2016 NikeLab www nike com Retrieved November 30 2016 Lekach Sasha March 2017 Nike finally releases plus size clothing line for women Mashable Retrieved March 3 2017 Bracetti Alex Converse Unveils All Star Modern Sneakers AskMen Nike shoes race to 437 500 world record auction price for sneakers Reuters July 24 2019 Retrieved October 3 2019 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Banks Of The Wealthiest 1 Percent International Consortium of Investigative Journalists November 5 2017 Retrieved November 7 2017 a b c Simon Bowers November 6 2017 How NikeStays One Step Ahead of the Regulators When One Tax Loophole Closes Another Opens ICIJ Retrieved November 6 2017 Einhorn Bruce September 4 2018 Nike Falls as Critics Fume on Social Media Over Kaepernick Deal Bloomberg Daniels Tim September 3 2018 Colin Kaepernick Named Face of Nike s 30th Anniversary of Just Do It Campaign Bleacher Report People Are Already Burning Their Nikes in Response to the Colin Kaepernick Ad Esquire September 4 2018 Retrieved September 5 2018 People are destroying their Nike shoes and socks to protest Nike s Colin Kaepernick ad campaign Business Insider France in French Retrieved September 5 2018 a b Golding Shenequa September 6 2018 The National Black Police Association Is In Full Support Of Nike s Colin Kaepernick Ad Vibe Retrieved September 7 2018 Cancian Dan September 6 2018 LeBron Stands with Nike in Support of Colin Kaepernick s Campaign Newsweek Retrieved September 7 2018 Serena Williams supports Nike s decision to endorse Colin Kaepernick Global News Retrieved September 7 2018 Wheeler Wyatt D September 5 2018 College of the Ozarks drops Nike will choose country over company Springfield News Leader Retrieved September 7 2018 Novy Williams Eben September 7 2018 Nike Orders Rose in Four Day Period After Kaepernick Ad Debut Bloomberg com Retrieved September 8 2018 Nike hit by conservative backlash over racist trainer BBC Retrieved July 3 2019 Safdar Khadeeja Beaton Andrew July 1 2019 Nike Nixes Betsy Ross Flag Shoe After Kaepernick Intervenes Retrieved July 2 2019 Nike pulls Fourth of July trainers after Colin Kaepernick raises concerns The Independent July 2 2019 Archived from the original on June 21 2022 Retrieved July 2 2019 a b Nike pulls Betsy Ross flag trainer after Kaepernick complaint BBC News July 2 2019 Retrieved July 2 2019 Nike Pulls Betsy Ross Flag Sneakers 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under a minute CNN Retrieved April 3 2021 a href Template Cite web html title Template Cite web cite web a author has generic name help Kiefer Halle April 1 2021 Nike Clarifies It Doesn t Endorse Lil Nas X s Satan Shoes Now With Human Blood Vulture Retrieved April 3 2021 Judge Orders Lil Nas X Satan Shoes off the Market for Now The Hollywood Reporter April 1 2021 Retrieved April 3 2021 Adegeest Don Alvin December 6 2021 Nike Patagonia named in European lawsuit as being complicit in forced labour practices in Xinjiang China FashionUnited Retrieved December 9 2021 Zabarenko Deborah June 19 2007 Reuters report Reuters Retrieved September 18 2010 Nike ClimateCounts Archived from the original on February 12 2011 Retrieved September 18 2010 a b Wicked Local April 29 2008 Archived from the original on July 25 2008 Retrieved May 4 2008 EcoBahn July 21 2020 Nike Reuse A Shoe Digital Upcycling Shift EcoBahn Retrieved November 6 2022 a b Curtis Alexander Hansson Amanda Examining the Viability of Corporate Recycling Initiatives and Their Overall Environmental Impact The Case of Nike Grind and the Reuse A Shoe Program Retrieved November 18 2022 Smoot Grace What Is the Carbon Footprint of Diesel Fuel A Life Cycle Assessment Impactful Ninja Retrieved November 18 2022 1 Archived May 5 2008 at the Wayback Machine Stanley Holmes September 24 2006 Nike Goes For The Green Bloomberg Business Week Magazine Archived from the original on June 3 2013 Retrieved December 14 2013 J Harnisch and W Schwarz February 4 2003 Final report on the costs and the impact on emissions of potential regulatory framework for reducing emissions of hydrofluorocarbons perfluorocarbons and sulphur hexafluoride PDF Ecofys GmbH Todd L A Sitthichok T P Mottus K Mihlan G Wing S 2008 Health Survey of Workers Exposed to Mixed Solvent and Ergonomic Hazards in Footwear and Equipment Factory Workers in Thailand Annals of Occupational Hygiene 52 3 195 205 doi 10 1093 annhyg men003 PMID 18344534 Todd L A Mottus K Mihlan G 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2021 Alternate URL Companies taking action Science Based Targets Nike s Sustainability Report for 2019Q2 PDF Archived from the original PDF on October 25 2020 Alt URL Nike s Sustainability Report for 2019Q2 PDF Archived from the original PDF on October 25 2020 Alt URL Nike s Sustainability Report for 2019Q2 PDF Archived from the original PDF on October 25 2020 Alt URL Nike s Sustainability Report for 2019Q2 PDF Archived from the original PDF on October 25 2020 Alt URL Nike s Sustainability Report for 2019Q2 PDF Archived from the original PDF on October 25 2020 Alt URL Lexis Sign In LexisNexis signin lexisnexis com Retrieved November 6 2022 What the Tech Microorganism Harvested AirCarbon Will Make Your Next Pair of Nikes HYPEBEAST September 17 2021 Retrieved November 6 2022 a b FDRA Nike s Sustainability Report Shows Environmental Impact Reductions Retrieved April 10 2023 Nike s revenue increases with sustainability Document Gale OneFile Business go gale com Retrieved April 11 2023 a b 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re signs with Nike for a long term partnership November 7 2017 The story behind Paul George s signature sneaker SI com Retrieved May 29 2019 Nike stocks fall after basketball prodigy touted as the next LeBron James blows out his sneaker nine come au Retrieved February 21 2019 a b Alger Tyson Oregon Ducks add orange to their Nike uniform repertoire for Colorado game The Oregonian Retrieved June 7 2017 Coaston Jane August 10 2020 The Big Ten and Pac 12 postponed the college football season Here s how we got here Vox Retrieved August 31 2020 a b Peter Josh Behind Oregon s Phil Knight in shining armor USA Today Retrieved June 7 2017 Germano Sara Nike Pledges 13 5 Million to Help Renovate University of Oregon Track Facilities The Wall Street Journal Retrieved June 7 2017 Bishop Greg August 2 2013 Oregon Embraces University of Nike Image The New York Times RED Partners RED RED a division of The ONE Campaign 2012 Retrieved October 13 2012 Nike becomes presenting sponsor of RBI Program MLB com Nike Community Ambassadors Nike Global Community Impact Nike Global Community Impact Retrieved September 27 2017 Further readingEgan Timothy September 13 1998 The Swoon of the Swoosh The New York Times External links Wikimedia Commons has media related to Nike Inc Official website 2018 FIFA World Cup Nike says Iran World Cup saga is misleading Business data for Nike Inc GoogleSEC filingsYahoo Company summary from the New York Stock Exchange website Coordinates 45 30 33 N 122 49 48 W 45 5093 N 122 8299 W 45 5093 122 8299 Retrieved from https en wikipedia org w index php title Nike Inc amp oldid 1155804684, wikipedia, wiki, book, books, library,

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