(left) conversing with
Phil Knight (second from left) and two other members of the Oregon track team, 1958. 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. The company initially operated in
Eugene, Oregon, as a distributor for Japanese shoemaker
Onitsuka Tiger, making most sales at track meets out of Knight's automobile. In its first year in business, BRS sold 1,300 pairs of Japanese running shoes, grossing $8,000. 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. 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. 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. Tension between BRS and Onitsuka Tiger increased in 1971 as the latter attempted a takeover of BRS by extending an ultimatum proposal that would give the Japanese company 51 percent of BRS. In 1972, the relationship between BRS and Onitsuka Tiger came to an end. It would bear the
Swoosh newly designed by
Carolyn Davidson. The Swoosh was first used by Nike on June 18, 1971, and was registered with the
US Patent and Trademark Office on January 22, 1974. In 1976, the company hired John Brown and Partners, based in Seattle, as its first
advertising agency. 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.
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. It was agency co-founder
Dan Wieden who coined the now-famous slogan "
Just Do It" for a 1988 Nike ad campaign, which was chosen by
Advertising Age as one of the top five ad slogans of the 20th century and enshrined in the
Smithsonian Institution.
Walt Stack was featured in Nike's first "Just Do It" advertisement, which debuted on July 1, 1988. Wieden credits the inspiration for the slogan to "Let's do it", the last words spoken by
Gary Gilmore before he was executed. Nike manufactured its first uniforms for a professional sports team in 1979, when its jersey for the
Portland Timbers of the
North American Soccer League debuted. Throughout the 1980s, Nike expanded its product line to encompass many sports and regions throughout the world. In 1990, Nike moved into its eight-building
World Headquarters campus in Beaverton, Oregon. The first Nike retail store, dubbed Niketown, opened in
downtown Portland in November of that year. Phil Knight announced in mid-2015 that he would step down as chairman of Nike in 2016. He officially stepped down from all duties with the company on June 30, 2016. 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. In October 2019,
John Donahoe was announced as the next CEO, and succeeded Parker on January 13, 2020. In November 2019, the company stopped selling directly through
Amazon, focusing more on direct relationships with customers. In April 2026, Nike announced it would cut approximately 1,400 workers, or about 2% of its workforce. Most of the affected employees work in the technology department. The
layoffs were part of a turnaround plan led by CEO Elliott Hill and followed approximately 800 job cuts in January 2026.
Acquisitions 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, followed by the purchase of
Bauer Hockey in 1994. In 2003, Nike paid US$309 million to acquire sneaker company
Converse. The company acquired
Starter in 2004 and soccer uniform maker
Umbro in 2007. In order to refocus its business lines, Nike began divesting itself of some of its subsidiaries in the 2000s. It sold Starter in 2007 The company sold Umbro in 2012 and Cole Haan in 2013. As of 2020, Converse is the sole subsidiary of Nike. In August 2019, the company acquired Celect, a Boston-based predictive analytics company. In December 2021, Nike purchased RTFKT Studios, a virtual shoe company that makes NFTs. In February 2021, Nike acquired Datalogue, a New York-based company focused on digital sales and machine learning technology.
Finance Nike was made a member of the
Dow Jones Industrial Average in 2013, when it replaced
Alcoa. 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. 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. The split will be the seventh in company history. 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. 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. In February 2020, the company said that roughly 75% of Nike stores in Greater China had closed due to the COVID-19 outbreak. In March 2020, Nike reported a 5% drop in Chinese sales associated with stores' closure. 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. In June 2025, Nike warned that President Trump’s new tariffs on key trading partners could add around $1 billion to its costs this year, causing the company to shift some production out of China to reduce its exposure. Despite weaker quarterly revenue, Nike’s shares rose over 10% after a better-than-expected earnings forecast, while the US and China also reached a deal to ease trade tensions. On April 2026, the chief operating officer, Venkatesh Alagirisamy announced a cut of about 1,400 global operations jobs, especially from the technology department as part of Nike's business reorganization. The key trends of Nike are (as at the financial year ending May 31):
Logo evolution ;Notes ==Products== Nike produces a wide range of sports equipment and apparel.
Sports apparel shoes Nike's first apparel 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 its 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 its competitors'. 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 soccer, 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 partnered 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 away using small, concealable intelligence
motes in a
wireless sensor network. In 2004, Nike launched the
SPARQ Training Program/Division. Some of Nike's newest shoes contain
Flywire and Lunarlite Foam to reduce weight. 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, an external heel counter, a crashpad in the heel for shock absorption, and Fit Frame technology for a stable fit. 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."
Nike Vaporfly The Nike Vaporfly first came out in 2017 and their popularity, along with its performance, prompted a new series of running shoes. 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%.
Street fashions The Nike brand, with its distinctive "
Swoosh" logo, quickly became regarded as a status symbol in modern
urban fashion and
hip-hop fashion due to its association with success in sport. 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 with thick, air cushioned rubber soles and contrasting blue, yellow, green, white, or red trim. Limited edition sneakers and prototypes with a regional early release were known as
Quickstrikes, and became highly desirable items for teenage members of the
sneakerhead subculture. By the 1990s and
2000s, American and European teenagers associated with the
preppy or
popular clique began combining these sneakers,
leggings, sweatpants,
crop tops, and tracksuits with regular
casual chic street clothes such as jeans, skirts,
leg warmers,
slouch socks, and
bomber jackets. Particularly popular were the unisex spandex Nike Tempo
compression shorts 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. 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. Originally plain white or black, these socks had special shock absorbing cushioning in the sole plus a moisture wicking upper weave. Later, Nike Elite socks became available in bright colors inspired by throwback
basketball uniforms, often with contrasting bold abstract designs, images of celebrities, and freehand digital print to capitalize 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. This was done again in 2016. Nike have introduced a premium line, focused more on streetwear than sports wear called NikeLab. 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. 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.
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 or 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.
Virtual After acquiring RTFKT, Nike launched the Dunk Genesis Cryptokicks collection, which features over 20,000 NFTs. One design by
Takashi Murakami was sold for $134,000 in April 2022. ==Headquarters==