Nike is the world's leading maker of athletic shoes, equipment and apparel. Nike products cover a broad range of sports including basketball, football, golf, running and soccer. Sneakers made by Nike are sold for $40-$300 per pair.
Nike is one of the most-heavily advertised and best known brands in the world. The company has signed exclusive and expensive marketing deals with some of the world's top athletes -- including Tiger Woods, Rafael Nadal and LeBron James -- to promote its products.
Wholly-owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic lifestyle footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.
In fiscal 2014, Nike reported record revenues of $27.8 billion, an 11% increase, and net income of $2.48 billion. "Fiscal 2013 was a great year for NIKE, driven by our innovative products and the power of our brands,” said Mark Parker, President and CEO of NIKE, Inc. “And we’re excited about what lies ahead. We have the best leadership team in the industry and a deep innovation pipeline."The Nike brand generated $26.1 billlion in revenues and Converse $1.7 billion. Net income for the year was $2.69 billion.
Nike employs over 48,000 people worldwide. Most Nike products are manufactured by contractors in Vietnam, China, India and Indonesia. Through suppliers, shippers, retailers and other service providers, Nike directly or indirectly employs nearly one million people.
Nike headquarters in Beaverton comprises 17 buildings on 178 acres. Each building is named after an athlete who is key to Nike's growth over the years including soccer star Mia Hamm, baseball great Nolan Ryan, tennis star Pete Sampras and cyclist Lance Armstrong.
Nike was founded by Philip Knight, who ran track at the University of Oregon, and his team coach Bill Bowerman. In 1963, Knight began selling Tigers running shoes from Japan at a store known as Blue Ribbon Sports in Eugene, OR. Knight would also sell shoes from the back of his car at track meets.
Sales grew and Knight hired an art student in 1971 to develop the company's well-known swoosh symbol for just $35. The company became known as Nike in 1972 which was named after the Greek goddess of victory.
In 1985, Nike's fortunes changed when it signed up a young basketball player for the Chicago Bulls named Michael Jordan. His line of sneakers known as Air Jordans has become the best selling shoe line in history.
Nike sold its Umbro and Cole Haan brands in 2012.
Full-time employees (those scheduled to work 30 or more hours per week) are eligible for benefits the first day of the month following 30 days of employment. Nike provides a substantial subsidy to full-time employees to assist with the cost of these benefits.
Part-time employees (those working between 20 and 29.99 hours per week) are eligible for health coverage the first day of the calendar year following 12 months of employment.
- Medical, dental, vision coverage
- Life and disability insurance
- 401(k) plan - Nike matches 100% of the first 5% of pay contributed. Match is invested in Nike stock and immediately 100% vested when contributed.
- Discounts at employee stores and guest passes
· Paid Time Off - Time off accrues throughout the year. Maximum
PTO accrual is limited to 1.5 times your annual accrual amount.
Once time is accrued, it can be used for vacations, sick time,
or other personal reasons. The accrual amount is based on length
of Nike service.
· Sabbaticals - Contribution by Nike and employee for five consecutive weeks off after 10 years of employment, and every five years thereafter.
· Paid Holidays - Most employees receive 10 per year plus one Personal Floating Holiday
- Performance Sharing Plan (PSP) - Nike
has an annual bonus plan that rewards employees based on Nike's
performance (to reward team success) and individual performance
(to reward your contributions to that success).
Nike also provides a number of other employee benefits for US employees including:
Updated June 29, 2014