In the 1990s and 2000s, Nike began to expand to clothing, Soccer, golf and other areas in the sports world began to be part of the Nike domain. Today, we see the Nike swoosh everywhere, from workout clothes to casual wear, fitness technology and, of course, athletic shoes. More recently, though, Nike has also suffered several blows to its image for its troubled athletes, including Tiger Woods and Lance Armstrong. Still, there’s no denying that the company’s reach is impressive and their sponsorships reach deep into the sports world.
In addition to acquiring celebrities for drawing in customers, Nike has also managed to acquire several small companies in order to further their success. They’ve also sold off several small companies in order to keep their operations smooth.
For now, though, Converse and Hurley International are among the main subsidiaries of the giant Nike. There’s even a separate and unique line of athletic shoes for tennis, basketball, and football players. Olympic athletes are also included in this lot!
So much effort and certain lucky decisions have made Nike what it is today. It now employs almost 50,000 staff overall, if not more. The brand alone has a value of almost $10 billion, with the profits reaching around hundreds of millions of dollars every single year.
Nike employs more than 44,000 people and its brand alone is valued at nearly $10 billion. Nike’s success has been the result of the constant innovation and timely investments that have resulted in Nike making profits worth hundreds of million dollars every year.
While Nike may have had a lot of fluctuations since its first launch, the brand is definitely here to stay for quite a while longer. The success story of this brand is innovative and clever, blazing the trails for many modern sporting goods companies. Today, there are many Nike purists who would only function when decked out in the company’s offerings.
Another sign of success for Nike could be the rise of copies and knockoffs. Some markets provide many sporting goods that have a similar or even identical logo to the Nike one. However, we’d have to purchase from the original brand if we want the warranties and quality that come with it!