Published on 22.03.2024

Nike Stock

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Nike stock price

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Nike's IPO

Nike (NYSE: NKE) went public on the New York Stock Exchange in 1980 at a price of $22 per share.

Corporate strategy and future

Today, Nike develops, designs and sells sneakers, athletic shoes, clothing and sports accessories. Products bearing the well-known logo are available in almost every country around the world. The company's products are characterised by innovation and Nike strives to build a deep relationship with its customers.

In addition to the Nike brand, the company owns the basketball brand Jordan and Converse. Under Converse, there are several other shoe brands, including Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell. The Jordan brand originated from a collaboration between Nike and basketball star Michael Jordan. When the first shoe, the Air Jordan, was released, NBA rules stipulated that players could only wear white sneakers. Since Michael Jordan played for the Chicago Bulls, Nike designed the first Air Jordans in red, black and white. The NBA was unhappy with this, imposing a $5,000 fine on Michael Jordan every time he wore the shoes. However, Nike was willing to pay the fines and make the shoes stand out. They predicted $3 million in sales for the Air Jordan in the first four years of the deal. In reality, Nike generated $126 million in revenue from the shoe in the first year alone. Partnering is a key part of Nike's strategy. They've had collaborations with companies like McDonald’s, Ben & Jerry’s, Billie Eilish and Hello Kitty.

Nike doesn't produce its shoes itself. It outsources production to manufacturers outside the US. This involves hundreds of different parties in many countries. Additionally, Nike has licensing agreements through which independent partners are allowed to produce and sell the company's products.

Nike sells its products through distributors as well as through its own channels like Nike stores and online shops. The company's direct sales are managed by the Nike Direct segment. Over the past decade, an increasing share of the company's revenue has come from this segment.

Nike's founder, Philip Knight, still holds a significant portion of the company's shares. These are held in an investment fund managed by his son, Travis Knight.

History of Nike

In 1964, American track coach Bill Bowerman and his student Phil Knight founded the company Blue Ribbon Sports. Bowerman had been dissatisfied with the sprint shoes being used at the time for several years. In the 1950s, he began designing his own shoes. Knight was the first athlete to try out these shoes. Bowerman tried to persuade American shoe manufacturers to produce his designs, but he faced rejection for years.

By that time, the two entrepreneurs had already changed the name from Blue Ribbon Sports to Nike. They had the iconic logo that the company uses on all its products designed for $35 in 1971. Nike ended its collaboration with the Japanese company Onitsuka and began producing shoes themselves.

During the 1970s, Nike rapidly became a leading player in the market for athletic shoes and sportswear. By 1976, its revenue had reached $14 million and by the end of the decade, revenues were nearly $150 million.

Nike continued to grow in the following decades. The trend of sports shoes becoming popular for everyday wear contributed to this growth. An example of a sports shoe that became popular as casual footwear is the Nike Air Max.

Only during years when the US economy was in recession or growth slowed down did the company experience brief setbacks in its development. The company surpassed the $10 billion revenue mark in 2003 and crossed the $40 billion threshold in 2021.

Nike's dividends

Nike has been increasing its dividend for twenty consecutive years.

The information in this article is not written for advisory purposes, nor does it intend to recommend any investments. Please be aware that facts may have changed since the article was originally written. Investing involves risks (e.g., price volatility, currency or liquidity risk). You can lose your invested funds. Consider your knowledge and experience when making investment decisions. Past performance is not a reliable indicator of future results. Markets are volatile and can fluctuate significantly due to economic, political, regulatory, or other developments.

Sources: Nike, Fidelity, Statista, Investopedia.



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