Just like most American companies, Nike started out as a small company that evolved through time into a major industry player. Guided by its founder, Nike has issue after issue riding on with economic progress and the benefits of events sponsorships. However, Nike remained to be a strong contender in the business amassing chunks of market shares. Nike was established by Phil Knight in the late 50’s after taking up accountancy at the University of Oregon.
It was here that he came to know Bill Bowerman who was his athletic coach during Knight’s varsity days. Knight praised Bowerman for being a tough and dedicated coach and an inspiring person. Upon his graduation, Knight got inspired into venturing in providing better running shoes for athletes like him. With this, he then went to Japan to do a proposal with Asics (then called Tiger Shoes) that would make him an exclusive American distributor of the company.
He then continued on to do the business under the name Blue Ribbon Sports where he got his coach, Bill Bowerman, into the business as co-owner (“The Merchants of Cool”, 2001). The business came into jeopardy after Tiger Shoes decided to take over the American market pushing Knight and Bowerman’s Blue Ribbon Sports out of the scene. Knight’s only reply was the establishment of a new shoe company: Nike.