ARTICLES

NIKE TIMELINE (1957-Present)

1957: The future co-founders of NIKE, Bill Bowerman and Phil Knight, meet at the University of Oregon in Eugene, America抯 running citadel. Bowerman, already one of the top U.S. track coaches, and Knight, a middle distance runner on Bowerman抯 track team, begin a relationship that will change the face of sports and fitness.

1960: After active duty with the U.S. Army Transportation Corps, Knight moves on to do post-graduate work in business at Stanford University in California. Bowerman continues tinkering with new designs for athletic shoes. Early tributes to Bowerman抯 creative skills come when world-class runners from his U of O team and future Olympians break records in shoes he hand-crafted.

1962: Knight concludes his market research paper at Stanford with the assertion that low-priced, high-tech, well-merchandised exports from Japan could replace Germany抯 domination of the U.S. athletic shoe industry. After receiving his MBA, Knight takes a world tour. Stopping in Japan, he contacts the Onitsuka Tiger company, manufacturer of quality athletic shoes, and convinces it of great marketing opportunities for its product in the U.S. When asked who he represents, Knight makes up a company name, giving birth to "Blue Ribbon Sports," the forerunner of NIKE.

1963: Knight抯 first shipment of Tiger shoes, 200 in all, arrives in December.

1964: Knight and Bowerman join forces in the new enterprise, each contributing $500 to the partnership. Knight works for an accounting firm and in his spare time distributes the shoes from his family抯 basement and at local and regional track meets. Grassroots promotions are born as runners don BRS shoes ?many prototypes designed by Bowerman ?and provide feedback to the company on concepts for future footwear development. BRS sells 1,300 pairs of Tiger running shoes, amounting to $8,000 in revenues.

1965: Jeff Johnson, a former track competitor of Knight抯, forsakes selling Adidas football shoes and becomes BRS?first full-time employee. Total revenues are $20,000.

1966: With the majority of Tiger shoes being sold from the cars of a handful of employees, Johnson rents space next to a beauty parlor in Santa Monica, Calif., marking the opening of the company抯 first retail outlet. It is here that Johnson begins handcrafting prototypes specifically for athletes. The result is shoes that will set the standard for athletic footwear in the future.

1967: Bowerman initiates the development of the Marathon, the first running shoe made with a lightweight, durable, nylon upper. Revenues begin to rise rapidly, and a sales office is opened in rooms behind a mortuary in Wellesley, Mass., to handle East Coast distribution.

1968: Made in Japan to Bowerman抯 specifications, the Cortez running shoe is introduced and becomes one of Tiger抯 largest-selling models. Johnson and Bowerman collaborate to create the Boston shoe, which incorporates the first full-length cushioned midsole, a radical innovation in running shoe design.

1969: Knight resigns his position as Assistant Professor of Business Administration at Portland State University to devote himself full time to the company. With 20 employees and several retail outlets, BRS approaches $300,000 in revenues.

1971: Frustrated with credit limits at local banks and a general lack of faith in his vision, Knight finds a new method of creative financing. Through the Bank of Tokyo, a trading company called Nissho Iwai introduces BRS to import letters of credit and lays a foundation for future rapid growth. With the help of Nissho Iwai, BRS manufactures its own shoe line and the Swoosh Design trademark is created. The night before the shoe boxes are to be printed, Johnson dreams the company抯 new brand name, NIKE, the Greek Goddess of victory. A soccer/football shoe is the first NIKE model to hit the retail market. A NIKE T-shirt to promote the shoe becomes the first apparel item.

1972: BRS launches NIKE at the U.S. Olympic Trials after a distribution dispute leads to litigation and an eventual break in business relations between BRS and Onitsuka Tiger. The Moon Shoe debuts and runners catch their first glimpse of the Waffle outsole, which Bowerman created by pouring rubber into a kitchen waffle iron. Test pilot for the Waffle outsole is a promising young University of Oregon football player who would become a six-time Pro Bowl star ?Dan Fouts. The patented outsole revolutionizes running by offering better traction in a lighter-weight, more durable shoe. Canada becomes BRS?first foreign market. The company抯 revenues hit $1.96 million, and the employees number 45.

Page:1/41 234