Swooshing to success!

Most people know that Nike is a major publicly traded sportswear and equipment supplier. It is the world's leading supplier of athletic shoes, apparel and sports equipment. Nike's revenue is in excess of $18.6 billion annually. To date, Nike has employed more than 30,000 people worldwide.

How Nike got started is not as well known, and perhaps might even raise an eyebrow or two. You see, Nike was originally known as "Blue Ribbon Sports." It was founded by University of Oregon track athlete Philip Knight and his coach, Bill Bowerman back in 1964. They got the name Nike, from the Greek goddess of victory. Initially, they operated as a distributor for Japanese shoe maker, Onitsuka Tiger, and made most of their initial sales at track meets out of the trunk of Philip's car.

By 1964, Knight and Coach Bowerman working together sold $8,000 worth of Japanese made sports shoes, and placed an order for more. That's when they decided to put more people on their team and hired full-time salespeople. Soon thereafter, they crested over $1 million in sales.

The company's profits grew quickly, and, in 1967, they opened their first retail store, located in Santa Monica, California. Eventually, they launched their own line of footwear, which would bear the newly designed and eventually internationally known Swoosh logo.

The company's first self-designed product was based on Coach Bowerman's "waffle" design. It was "accidentally" invented one Sunday morning when he poured liquid urethane into his wife's waffle iron. Coach Bowerman developed and refined the so-called 'waffle' sole, which would evolve into the now-iconic Waffle Trainer.

By the late 70's, after Blue Ribbon Sports officially became Nike, they went from $10 million to $270 million in sales. Coach Bowerman, describes the success via Nike's placement within the matrix of the fitness revolution: "The idea of exercise and game-playing ceased to be something the average American did for fun, and instead Americans turned to working out as a cultural signifier of status."

By 1980, Nike had reached a 50% market share in the U.S. athletic shoe market, and went public in December of that same year. Its growth was due largely to "word-of-foot" advertising — a quote from a Nike print ad.

Nike may not have started the fitness revolution, Phillip says, "But we were at least right there. And we sure rode it for one hell of a ride." The 80's and 90's would yield even greater profits as Nike began to assume the appearance of an athletic icon.

In 1996 after being named as "Marketer of the Year" — because the Swoosh logo is more recognizable than any other sports brand — Nike's revenues were a staggering $6.74 billion. Nike has targeted $14 billion in sales by the year 2011.

All that from selling shoes out of the back of a car.

Solid Gold Performance...

It demands a "blue-ribbon," first place focus on Marketing, Innovation and a Talented Team... with every player dedicated to turning shoe leather into Olympic Gold.

How Did Nike Become a Gold Mine? By Superior:

Marketing...     Talent...     Innovation Management...

Click on Function... Insert a Do It in your Strategic Plan... then Just DO IT!

Your Thoughts and Observations...

"We wanted Nike to be the world's best sports and fitness company. Once you say that, you have a focus. You don't end up making wing tips or sponsoring the next Rolling Stones world tour." ~ Phillip Knight