As we all are aware of the fact that Nike wholesale is a global leader in the sports world. But its dominance and popularity is not something that happened overnight. In fact, it took Nike years to build on a multi-national empire and connect with sports and celebrities all around the world.
Founder of this famous sportswear brand, Phil Knight has worked tirelessly to build a brand known to almost everyone around the world. It was his selfless leadership, gruesome and hardworking tactics that made Nike a prominent brand in the world.
In 2015, after serving Nike for 50 years, Knight stepped away from his position as the Chairman. But Knight’s success is not just his. Bill Bowerman was his partner and his trusted friend for many years. Together, they forged an alliance to provide athletic shoes to sports enthusiasts, professional and rookie athletes, and to everyone who enjoyed wearing them in the public.
Over all these years, Nike wholesale has seen continued success and recognition from people across the globe. While Bowerman passed away in 1999, Knight valiantly served as a lone warrior, taking charge of all the decisions in the company. And after retiring from his position, Nike was without the people who created this brand from scratch and made it familiar to the world.
While we overwhelmingly say this, Knight’s legacy to turn the company into a major stakeholder can never be ignored, since taking the position in 1968 and then working as the president till 2004, Knight has brought in a multitude of businesses successes in the commercial sector while keeping the company afloat with its efficient management policies for the workers.
Who would have thought that a Stanford graduate would open up a distribution store for sneakers and then create his own brand for the world to see? In this blog, we will talk about all the previous and present achievements of Nike and what strategy they applied to make this brand a renowned brand in the world.
1958 – A star is graduated
After completing a bachelor’s degree in Journalism, Knight thought of stepping into the business circa and tap into opportunities ignored by brands for the consumers.
1962 – The year of Stanford
Knight again graduated from Stanford University, where he famously wrote a research paper that would build on the idea for making Nike. The paper had everything: from strategy to marketing tactics, it was a complete paper citing the dominance of Japanese and German shoes.
1964 – Knight and Bowerman
Knight met Bowerman in 1964, who was a track and field coach at that time. Together after rigorous market research and planning, the duo started Ribbon Sports with just about $1500 in their accounts. The company predominantly started selling distributed shoes from the Japanese Manufacturer and entered the global market for quality sports shoes.
1971 – Blue Ribbon looks for other avenues
After distributing the sports shoes from a famous brand, Blue Ribbon parted ways with the company and started its own product line with the name Nike which is basically a Greek name for the Goddess of victory. This is precisely the same year when Bowerman made waffle-like shoe soles by making them in the waffle iron.
1972 – The dominance of Nike
By the early months of 72, Nike was earning a decent reputation in the sports market. This is the year when Nike paid $35 for its logo and emerged in the new waffle sole for the Olympic trials held in Oregon.
1980 – Competition is on the loose
After emerging as a global brand in the sports market, Nike surpassed Adidas in the market share alone in the country. This is the same year when Nike announced that the company is going public and anyone can invest in its shares.
1984 – Masterstroke of the century
Nike creates history by signing a hot prospect, Michael Jordan for branding, endorsements, and business promotion. The signing is curtailed by experts as a masterstroke because Adidas refused to cover up his expenses.
1985 – The rise of Jordan
Soon after signing Michael Jordan for branding, Nike releases Air Jordan sneakers. To this date, Jordan sneakers are considered as a sign of luxury, comfort, and sports. This famous partnership has made Jordan the start we know today.
Although his skills as a professional basketball player are highly recognizable, his overall persona made him one of the richest sports personalities in the world.
1989 – Another milestone achieved
Nike slowly but gradually crosses Reebok in the market share and is considered as one of the most valuable brands in the world.