FROM BASE TO HEEL- ‘NIKE’- THE LADDER THAT EVERYONE WANTS TO STEP
The world’s most popular and biggest sportswear company, Nike has turned the world of men from dream to reality by giving shoes a better place to live and fit in. a global corporation by name and a success platform by performance, Let us find out how this magic happened over years and what the keys that led to its success are. Sports have always been a global medium of communication as it penetrates through nations and cultures. It acts as a stimulus, of human aspiration, and is a fantastic industry to work in the better run. Today, Nike is well-recognized for its footwear, clothes, and accessories. It is a diverse and sophisticated multinational organization.
About the founding pillars
The company was formerly called Blue ribbon Sports. Headquartered in Beaverton, Oregon, U.S. It was founded in 1964 by its two founding pillars Bill Bowerman and Phil Knight.
Philip is a multimillionaire American entrepreneur who is not only the co-founder but also the former chairman and chief executive officer of Nike. He is a graduate of the Stanford School of Business and the University of Oregon. William was a field and track coach in the United States and a co-founder of Nike, Inc. He coached 51 All-Americans, 31 Olympic competitors, 22 NCAA winners, and 16 sub-4 minute milers in his time. From being a mere supplier of shoe bands to designing its unique creation, the company has seen downs but created everlasting up’s in the long run.
Stepping into the world of Nike
Its roots may be traced back to 15th January 1964, when this brand came up with all its potential. Initially, with the recognition of Blue Ribbon Sports’ name, the company was created. At the University of Oregon, Philip came in touch with Bill Bowerman and both of them started to develop something out of a mere shoe industry starting from scratch. Bill was his former team coach of Philip and when both their minds intermingled, they knew that they would create something big. They together started to explore various models on a constant schedule after learning from a local shoemaker. One day, Bowerman brought his shoes and Philips worked on them to create something unique with a customized design. The shoe reputedly functioned so well that Bowerman’s college David won a 400 meters track race in the 1960 Olympics and earned a gold medal.
Slowly with an equal partnership, they embarked on their journey. They evaluated the foreign market by distributing their self-made customized shoes and clearly understood that it had a niche community and there was demand. With lower prices and high quality, the company started to beat others around.
The long-lasting mission and vision
Nike’s vision statement says ‘To bring inspiration and innovation to every athlete in the world’. It highlights its mission to try anything possible to expand human potential by creating groundbreaking sports innovations and making more sustainable products globally.
Business and revenue model
Nike’s business model is based on the creation and distribution of athletic sporting goods such as footwear, equipment, apparel, etc. The customer segment of Nike geographically includes China, North America, the Asia Pacific and Latin America, Europe, the Middle East, and Africa. Nike promises good customer-seller relationships by acquiring trust in the heart of its customers. They have dedicated their brand to self-service and items are made with a view that consumers will examine and analyze the brand comparing it with others. There is a FAQs section available on the official website, as well as through phone, email, live chat, etc. Nike also offers Nike ID, a customization service that adheres items to customer preference. Customers of Nike rely on brand quality, inventiveness, and prominence.
Today, Nike maintains its brand reputation by including superstars like Michael Jordan, Tiger Woods, and Cristiano Ronaldo.