In the 1980’s, Nike was now a well-known brand with the help of Nike Air. They also began a transitional period taking in new management as Phil Knight stepped down as president in 1983-1984. During the mid-1980s, Nike took in a major loss. It wasn’t until the debut NBA rookie Michael Jordan’s shoe in 1985 did Nike rise from there previous failure. Nike launched new marketing strategies to beat out their competitors and rise back to the top. Their ever famous Nike Air Max and the tagline “Just Do It” were just some of the creations from their revamping. Nike became an industry leader once again. Nike continued landing high profile athletes as endorsers, including Tiger Woods and Lance Armstrong.
Today, Nike is one the most famous brands in sports worldwide. The idea of two men has become a worldwide icon not only in sports but also fashion. The “Swoosh” is one the most recognized signs in sports and Nike, Inc. is now also affliated with other brands, including Converse, Hurley Jordan Brand, and Cole Haan.
Bill Bowerman died in 1999 at the age of 88. Phil Knight continues to honor his partner and is worth approximately 13.1 billion dollars today. That is a pretty awesome interest from an initial $500 investment. Knight also continues give back to his high school, Stanford University, the University of Oregon, and several philanthropies. Bowerman and Knight are true examples of the slogan “Just Do It,” overcoming adversity to seeing their dream come true. I am especially thankful for their company and they definitely are some the most famous entrepreneurs in sportswear.
Celebrity Networth. (n.a.). (n.d.) Phil Knight Net Worth. Retrieved July 31, 2012, from http://www.therichest.org/celebnetworth/business/men/phil-knight-net-worth/
Goldstein, Richard. 1999, December 27. The New York Times. Bill Bowerman, 88, Nike Co-Founder, Dies. Retrieved from http://www.nytimes.com/1999/12/27/sports/bill-bowerman-88-nike-co-founder-dies.html
Nike, Inc. (n.a.). (n.d.). History & Heritage. Retrieved July 31, 2012, from http://nikeinc.com/pages/history-heritage#
Oregon Secretary of State. (n.a.). 2011, Jan. Notable Oregonians: Phil Knight – Innovator, Business Leader. Retrieved from http://bluebook.state.or.us/notable/notknight.htm