The Wiley Blackwell Encyclopedia of Consumption and Consumer Studies

Nike

VIVIANE RIEGEL

Goldsmiths, University of London, UK

DOI: 10.1002/9781118989463.wbeccs184

The name Nike comes from the Greek goddess of victory. Nike's brand logo is the Swoosh, created by Carolyn Davidson, a graphic design student at Portland State University. In addition to the Nike and Jordan brands, wholly owned subsidiaries include Converse (athletic and lifestyle footwear, apparel, and accessories), Hurley (action sports and youth lifestyle footwear, apparel, and accessories), and Nike Golf (since 1996, when Tiger Woods became a Nike spokesperson). The company's mission statement is: To bring inspiration and innovation to every athlete in the world. Nike co-founder Bill Bowerman said, “If you have a body, you are an athlete.”

According to the Forbes Global Leading Companies (2013), Nike (www.nikeinc.com) had worldwide annual revenue of US$25 billion in 2013 (the company sells its products in 170 countries), and its market value was US$49 billion, meaning it was ranked 160 in the US market (public since 1980 in the Dow Jones). The BrandZ Top 100 Report (2013) ranked Nike the 57th most valuable global brand, with a brand value of US$15,817 million.

It all started in 1964, when Bill Bowerman and Phil Knight met and began a partnership. Bill Bowerman was a track and field coach at the University of Oregon and Phil Knight was a middle-distance runner from Portland, who enrolled at Oregon in the fall of 1955 and competed for Bowerman's track program. They incorporated in 1967 ...