BY ROY ALBERT ANDRADE, K1LLER, Inc.
In Greek mythology, Nike is the winged goddess of victory, and the daughter of Pallas, a powerful Titan god of warcraft. The goddess was an eminent figure that dates back to the second century, or after Christ, the Hellenistic Period, appearing on pottery, in statues, and coins, holding a wreath to present to a triumphant athlete, or, warrior. A Greek would say, "When we go to battle and win, we say it is NIKE."
As of October 2017, Nike, Inc. has a market capitalization of $ 91.2 billion dollars, a stock price of $56.81 per share, 70,700 employees worldwide, and global sales of $33.82 billion dollars. Yeah baby! “The consumer today expects a premium experience, with innovative product and services delivered faster and more personally,” said Mark Parker, Chairman, President and CEO of NIKE, Inc. “Fueled by a transformation of our business, we are attacking growth opportunities through innovation, speed and digital to accelerate long-term, sustainable and profitable growth.”
Once upon a time, a woman named Lota Hatfield Knight, gave birth to a baby boy on February 24, 1938 in Portland, Oregon. He was very energetic as a kid. He ran track, and field at Grover Cleveland High School. Somewhere along the line he was nicknamed "Buck." The average distance runner competed on the University of Oregon's track team, and formed a partnership with Bill Bowerman, his former coach. They raised enough financial capital to launch Blue Ribbon Sports, a resale/distributor of an imported Onitsuka Tiger shoes (Asics) company, and began selling them alongside Bowerman-designed shoes to everybody with feet, especially, at high school track meets. Legal troubles endued, and Onitsuka Tiger, and Blue Ribbon Sports were at each others throat. However, millions of dollars were made in the process. Approximately, $3 million dollars a year in shoe sales.
A light-bulb moment occurred, and it was time to re-brand. An employee named Jeff Johnson invented the name, Nike, and the Cortez officially became the first shoe to be sold under their newly publicized name. On December 12, 1980, the company began trading on the New York Stock Exchange under the ticker symbol NKE at $2.87 a share, and helped the company spearhead overseas sales. The company generated roughly $867 million dollars four years after its initial public offering. In 1985, they approached Michael Jordan of the Chicago Bulls, and as The Godfather would put it, "I am going to make him an offer he can't refuse." A five year endorsement deal worth $500,000 per year, which, included a clause, stock options, and the opportunity to make even more money depending on shoe sales. Countless commercials glorifying Michael Jordan dunking a ball in the netted hoop, and with Spike Lee in a classroom filled with students aired on television across the planet.
Today, NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE, Inc. subsidiary brands include Converse, which designs, markets and distributes athletic lifestyle footwear, apparel and accessories; and Hurley, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories. As noted, its investing in a "Triple Double Strategy," they devised to propel growth through three core areas of the company that include 2X innovation, 2X speed, and 2X Direct. The "Triple Double Strategy" is bound to connect the NIKE Brand and products with consumers in new and more powerful ways across 12 key cities and 10 key countries.
Shawn W. Anderson