Nike company summary. Nike Is a Growth Company 2022-10-26
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Nike is a multinational corporation that is headquartered in Beaverton, Oregon. It is one of the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment. The company was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track and field coach at the University of Oregon, and his former student Phil Knight. They initially imported Japanese running shoes under the brand name Nike, which was named after the Greek goddess of victory. The company's first factory was built in 1971 and its first retail store opened in Santa Monica, California in 1972.
Nike has grown significantly since its humble beginnings and is now a household name known for its high-quality athletic products. The company's mission is to "bring inspiration and innovation to every athlete in the world." Nike sponsors a number of high-profile athletes and sports teams around the world, including LeBron James, Serena Williams, and the Brazilian national soccer team.
One of Nike's key strategies for success has been its focus on innovation and technology. The company has invested heavily in research and development to create new products that meet the needs of athletes. Nike has also embraced e-commerce and digital marketing, allowing it to reach a global audience and improve its customer experience.
In addition to its focus on innovation, Nike is also known for its commitment to sustainability. The company has implemented a number of initiatives to reduce its environmental impact, including using more sustainable materials in its products, reducing energy use in its factories, and supporting environmentally-friendly initiatives in its supply chain.
Overall, Nike is a leading player in the athletic apparel and footwear industry and is known for its commitment to innovation, high-quality products, and sustainability. Its strong brand and partnerships with top athletes and sports teams have helped it to remain a major player in the industry and continue to grow and evolve.
Factset: FactSet Research Systems Inc. They stated that the people who designed it were skateboarders and Minor Threat fans themselves who created the advertisement out of respect and appreciation for the band. Nike operates globally in South America and Asia, with its production facilities closest to the cheapest labor and raw material available to them. They use sales promotions for motivating the new customers by giving some additional benefits like; the savings the customers can make by purchasing when a discount or a special offer is applied. The changing environment and increased global warming have alarmed people regarding the production methods of Nike, which produces pollution and wastages are directly dumped into rivers.
NIKE, Inc. (NKE) · Financial summary · complianceportal.american.edu
It also designs, manufactures, and markets its own line of sports equipment as well. The company is one of the largest multinational organizations in the sports equipment industry. Beautiful things in popular culture. Many consumers wear Nike clothes not just for sports activities but also for brand status. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks. The bioplastic is used as a replacement to leather, plastic, and other materials that are like that.
The company has to manage high distribution costs when delivering its finished products to the customer through over 1100 retailing stores around the globe and its online website. The company operates in a competitive environment, which impacts the sales revenue of Nike Inc. The Converse segment designs, markets, licenses, and sells casual sneakers, apparel, and accessories. Nowadays Nike is one of the most famous international brands in the world with a market capitalization of more than 65. The company seeks growth and innovative product range that improve the quality of life it provides to its consumer. Nike mostly outsources its manufacturing due to the comparatively lower costs.
And I also understood most of the details inside this huge company, and how much its popular in the middle east and worldwide, and also who were the celebrities to get sponsored by this company such as; Cristiano Ronaldo and Lebron James, and the most important thing that made me like this company even more is that it satisfies every customer they deal with and also including Muslim costumes in their stores which is a great move by them, Nike is a very successful company from the past till Nowadays. Now, there are 22 buildings. This has led to major allegations against the company and impacting its reputation negatively, which has led to decrease in their sales and consumers turning to competitors. Today, Nike operates in sports equipment, athletic shoes, running shoes, football, street fashion, gym, and sportswear. It markets and distributes various products for kids and other recreational and athletic activities such as football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities, and various apparels with licensed college and professional team and league logos. Large firms have their factories established in several countries where they can access cheaper labor and production methods that minimize the costs and increases sales.
Also, the sales of personal training apps grew by 80% in China. Adidas has the competitive advantage of its successfully independent subsidiary, Reebok, which helps Adidas generate sales. In July 2019, Nike released a shoe featuring a Nike's decision to withdraw the product drew criticism from Hong Kong protests U. Nike shoes are designed for efficient sports performance as well as for aesthetics. Its first acquisition was the upscale footwear company In order to refocus its business lines, Nike began divesting itself of some of its subsidiaries in the 2000s. Journal of Occupational and Environmental Hygiene.
They believe in being environmentally safe and friendly avoiding the production of pollution and dumping into rivers. The overdependence on the international market has led Nike to be vulnerable to political conflicts among countries, which might result in the prevention of imports and exports. Nike has been criticized for contracting with factories known as Campaigns have been taken up by many colleges and universities, especially As of July 2011, Nike stated that two-thirds of its factories producing Converse products still do not meet the company's standards for worker treatment. The Corporate segment consists of unallocated general and administrative expenses. Moreover, every department is related to another to ensure effective communication. However, there are several factors that affect and contribute to the performance of the company such as political, socio-economical, market trends, technological advancement and legal factors.
The company had recently been criticized for its labor policies and hiring underage labor that exploited the ethical code of the firm, as well as, break the law and legal structure in the countries it operated in. The Nike logo has become a popular global icon. During the time, when Blue Ribbon begins its operations in the sports shoes, Germany had dominated the market. Nike also sells gloves and yoga mats, as well as agility cones. 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. It was the first decrease in six years.