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- 1. Nike By Leah Chung (chungle)
- 2. Problem-solving products "Can Japanese sports shoes do to German sports shoes what Japanese cameras did to German cameras?" From the very start...
- 3. Nike Today Nike Golf Nike Pro Air Jordan Nike Skateboarding Hurley International Converse
- 4. Fitness Apps Train and track
- 5. Nike’s Finances 2011 - 2017: Forbes most valuable sports brand 2016 revenues up 6% to $32.4 billion As of 2017, Nike brand valued at $29.6 billion Is Nike profitable? Yes
- 6. Business Model
- 7. A Brief History -Blue Ribbon Sports was founded by Phil Knight and Bill Bowerman -Sold 1300 pairs of Japanese running shoes grossing $8,000 1964 1971 Company officially becomes Nike Inc. 1980 Attained a 50% share of the U.S. athletic shoe market. Nike goes public Nike admits to mistakes over child labor (90s) 2001 2014 One of the biggest strikes of mainland China took place at a shoe factory 2011 - 2017 Forbes most valuable sports brand Nike announces 1,400 layoffs. 2017
- 8. What’s hot: Nike Air Jordan
- 9. Nike Tanjun ($65)
- 10. “If you have a body, you are an athlete” - Bill Bowerman
- 11. Markets ● Footwear ● Athletic Apparel ● Athletic Gear/Equipment Nike is a Mover and a Shaker
- 12. Competition Stylish Affordable Options Fitness Apps NBA Contract Soccer Influence Nike Adidas Under Armour Puma
- 13. 2016: Nike had 52 shoes in the top 60 (86.6%). Adidas had 2 (3.3%) 2017: Nike had 35 in the top 60 (58.3%) Adidas grew to 24 (40%). Nike better hold on tight... U.S.A Western Europe China Nike Adidas
- 14. Predictions Is Nike here to stay? Yes Contract with NBA (8 year apparel deal starting in the 2017-18 season) F.C. Barcelona (worth ~155 Million Euros per season)
- 15. Resources https://news.nike.com/news/nike-inc-reports-fiscal-2016-fourth-quarter-and-full-year-results https://www.forbes.com/sites/mikeozanian/2014/10/07/the-forbes-fab-40-the-worlds-most-valu able-sports-brands-2014/#161224ad3885 https://revenuesandprofits.com/how-nike-makes-money-understanding-nike-business-model/ http://mallenbaker.net/article/clear-reflection/nike-and-child-labour-how-it-went-from-laggard-to -leader https://www.commondreams.org/headlines01/1020-01.htm https://www.bizjournals.com/portland/news/2017/06/15/nike-announces-1-400-layoffs-new-corp orate.html https://www.statista.com/statistics/278834/revenue-nike-adidas-puma-footwear-segment/ http://www.clb.org.hk/en/content/defeat-will-only-make-us-stronger-workers-look-back-yue-yue n-shoe-factory-strike
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Emboldened by the sheer drive to bring a common ground for all, Nike is a brand of diversity and innovation. Nike gives justice to its tagline: “Just do it” by working through various humanitarian endeavors and managing to create an image of inclusion and diversity for all. They bring inspiration and innovation to every athlete in the world. Our presentation designer matched this voracious Nike campaign by using an electrifying mint green effect to exude action and power throughout the presentation deck. SlideGenius definitely knows how to mix-in colors that’s just right for your brand!
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Investor News Details
Nike, inc. reports fiscal 2021 fourth quarter and full year results.
BEAVERTON, Ore.--(BUSINESS WIRE)-- NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2021 fourth quarter and full year ended May 31, 2021.
- Fourth quarter reported revenues were $12.3 billion, up 96 percent compared to prior year and increasing 21 percent compared to the fourth quarter of 2019.
- Full year reported revenues increased 19 percent to $44.5 billion.
- NIKE Direct fourth quarter sales increased 73 percent to $4.5 billion.
- Gross margin for the fourth quarter increased 850 basis points to 45.8 percent.
- Diluted earnings per share for the fourth quarter was $0.93 and for the full year was $3.56.
“NIKE’s strong results this quarter and full fiscal year demonstrate NIKE’s unique competitive advantage and deep connection with consumers all over the world,” said John Donahoe, President & CEO, NIKE, Inc. “FY21 was a pivotal year for NIKE as we brought our Consumer Direct Acceleration strategy to life across the marketplace. Fueled by our momentum, we continue to invest in innovation and our digital leadership to set the foundation for NIKE’s long-term growth.” *
Our fourth quarter revenue growth was led by higher wholesale shipments due to the annualization of COVID-19 related physical retail closures in the prior year in North America, EMEA and APLA. As physical retail re-opened, NIKE Brand Digital continued to deliver strong revenue growth of 41 percent versus prior year and 147 percent compared to the fourth quarter of 2019.
North America delivered record revenues, up 141 percent on a reported basis for the fourth quarter, up 29 percent compared to the fourth quarter of 2019, including increased wholesale revenue due to delayed shipments from the previous quarter. As markets re-opened and sport returned, North America Digital growth continued to be strong, increasing 54 percent versus prior year and 177 percent compared to the fourth quarter of 2019.
EMEA’s fourth quarter reported revenues increased 124 percent, up 21 percent compared to the fourth quarter of 2019, despite temporary COVID-19 related store closures throughout the quarter. As physical retail was temporarily closed, EMEA Digital fourth quarter sales increased 40 percent, or 170 percent compared to the fourth quarter of 2019. Today, approximately 99 percent of stores in EMEA are open or operating on reduced hours.
Our full year NIKE, Inc. revenues increased 19 percent on a reported basis or 14 percent compared to fiscal year 2019, reflecting growth across all Geographies and Converse, including seven consecutive years of double-digit, currency-neutral** growth for our Greater China business.
“NIKE’s brand momentum is a testament to our authentic consumer connections, digital strength and continued operational execution,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “As we advance our consumer-led digital transformation, we are building a new financial model that will continue to fuel long-term sustainable, profitable growth for NIKE.” *
Fourth Quarter Income Statement Review
- Revenues for the NIKE Brand were $11.8 billion, up 88 percent to prior year on a currency-neutral basis, driven by triple-digit growth in our wholesale business and strong double-digit growth in NIKE Direct.
- Revenues for Converse were $596 million, up 85 percent on a currency-neutral basis, led by strong marketplace demand in North America and Western Europe.
- Gross margin increased 850 basis points to 45.8 percent, primarily due to annualizing the impacts of COVID-19 including lower factory cancellation charges, lower inventory obsolescence reserves as well as the favorable rate impact of supply chain fixed costs on a higher volume of wholesale shipments. The increase in gross margin also reflects favorable margins in our NIKE Direct business.
- Demand creation expense was $997 million, up 21 percent, primarily due to the return of sport and brand events driving increased advertising and marketing expense as well as digital marketing investments.
- Operating overhead expense increased 16 percent to $2.7 billion, due to an increase in wage-related expenses, higher strategic technology investments and NIKE Direct variable costs, partially offset by lower bad debt expense.
- The effective tax rate was 18.6 percent compared to 1.7 percent for the same period last year, caused by a change in the proportion of earnings taxed in the U.S. related to recovery from the impact of COVID-19 and decreased benefits from discrete items.
- Net income was $1.5 billion, and Diluted earnings per share was $0.93 compared to a net loss for the fourth quarter of 2020 of $790 million and a net loss per share of $0.51.
Fiscal 2021 Income Statement Review
- Revenues for the NIKE Brand were $42.3 billion, up 17 percent on a currency-neutral basis, driven by growth across NIKE Direct and wholesale, double-digit growth across footwear and apparel, with growth led by Sportswear and the Jordan Brand.
- NIKE Direct revenues were $16.4 billion, up 32 percent, or 30 percent on a currency-neutral basis, led by 64 percent, or 60 percent on a currency-neutral basis, growth in NIKE Brand Digital, with all geographies growing strong double-digits. Despite temporary store closures across the marketplace due to COVID-19, comparable store sales grew 4 percent.
- Revenues for Converse were $2.2 billion, up 16 percent on a currency-neutral basis, led by strong double-digit sales growth in our digital business.
- Gross margin increased 140 basis points to 44.8 percent, primarily due to annualizing the impacts of COVID-19 including lower factory cancellation charges, lower inventory obsolescence reserves as well as the favorable rate impact of supply chain fixed costs on a higher volume of wholesale shipments. The increase in gross margin also reflects higher full-price product margins across wholesale and NIKE Direct.
- Demand creation expense was $3.1 billion, down 13 percent to prior year, primarily due to lower marketing and advertising expenses for our brand events and retail operations, as well as lower sports marketing expenses as sporting events were postponed due to COVID-19. This activity was partially offset by higher digital marketing investments.
- Operating overhead expense increased 4 percent to $9.9 billion due to an increase in strategic technology investments, higher NIKE Direct variable costs and approximately $260 million in restructuring-related costs, partially offset by lower bad debt expense and lower travel and related expenses.
- The effective tax rate was 14 percent, compared to 12.1 percent for the same period last year, due to decreased benefits from discrete items such as stock-based compensation.
- Net income was $5.7 billion, and Diluted earnings per share was $3.56, up 123 percent.
May 31, 2021 Balance Sheet Review
- Inventories for NIKE, Inc. were $6.9 billion, down 7 percent compared to the prior year period, driven by strong consumer demand as we return to healthy inventory levels across markets closed in the prior year due to COVID-19.
- Cash and equivalents and short-term investments were $13.5 billion, $4.7 billion higher than last year, primarily due to proceeds from net income partially offset by cash dividends.
Shareholder Returns
NIKE has a strong track record of investing to fuel growth and consistently increasing returns to shareholders through dividends and share repurchases, including 19 consecutive years of increasing dividend payouts. In fiscal 2021, the Company returned approximately $2.3 billion to shareholders, including:
- Dividends of $1.6 billion, compared with $1.5 billion in fiscal 2020.
- Share repurchases totaling approximately $650 million for fiscal 2021, reflecting 4.9 million shares retired as part of the four-year, $15 billion program approved by the Board of Directors in June 2018.
During the fourth quarter of 2021, NIKE, Inc. resumed share repurchase activity. As of May 31, 2021, a total of 50 million shares for $4.7 billion had been repurchased under this program.
Conference Call
NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on June 24, 2021, to review fiscal fourth quarter and full year results. The conference call will be broadcast live via the Internet and can be accessed at http://investors.nike.com . For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, July 15, 2021.
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com . Individuals can also visit http://news.nike.com and follow @NIKE.
View source version on businesswire.com : https://www.businesswire.com/news/home/20210624005975/en/
Investor Contact: Andy Muir (971) 473-3143
Media Contact: KeJuan Wilkins (971) 473-2556
Source: NIKE, Inc. NKE
Nike SWOT 2023 | SWOT Analysis of Nike
By S. K. Gupta, Last updated: Feb 22, 2023
Company: Nike CEO: John Joseph Donahoe Founders: Phil Knight and Bill Bowerman Year founded: 1964 Headquarter: Beaverton, Oregon Employees (FY22): 79,100 Type: Public Ticker Symbol: NKE Revenue (FY22): US$46.71 Billion Profit | Net income (FY22): US$6.04 Billion
Products & Services: Apparel | Athleisure | Footwear | Sports Equipments | Accessories Competitors: Adidas | Under Armour | Allbirds | New Balance | Sketchers | Puma | Fila | ASICS | Lululemon | Fabletics | Victoria Secrets
Did you know? Nike swoosh logo is inspired by the Greek goddess of victory, Nike
Table of Contents
An Overview of Nike
Nike, Inc. is an American multinational corporation. Nike is headquartered in Beaverton, Oregon, USA . It was found by Bill Bowerman and Phil Knight in the year 1964 . The company specializes in athletic wear, providing footwear, apparel, athletic equipment, and accessories.
Nike’s primary goal is to supply athletes with exceptional products and wearable that aids them in better sports performance . However, due to the success, Nike has gotten the company now provides athleisure wear as well. Currently, John Donahoe is the CEO of Nike.
SWOT A nalysis of Nike
Here’s a detailed breakdown of Nike SWOT analysis.
Nike’s Strengths – Internal Strategic Factors
- Strong Brand Awareness and Brand Value – Nike is one of the most recognizable brands in the world as its name alone is memorable, easy to pronounce, and very unique. Its swoosh symbol is easily recognized by everyone. According to Interbrand, Nike has a brand value of $50.2 Billion .
- Huge Customer base – Nike has millions of customer from around the world who loyally follow Nike’s trends, participate in Nike events, and even provide customer feedback. Due to its huge popularity, Nike’s market cap has grown to $186 billion as of Feb 2023.
- Aimed For Sustainability – Nike’s CEO Mark Parker has addressed that they will continue to acknowledge the environmental issues in the communities. The CEO ensures that Nike will help to contribute in finding a solution against these environmental issues.
- Iconic Relationships – Nike’s long-term partnership with Michael Jordan has proved to be beneficial in terms of sales for the company. Their collaboration resulted in “ Air Jordan 1 Shoes ”. Additionally, Nike teamed up with the famous basketball player to help design the “Air Jordan 1 Shoes”.
- Side Brands – Nike’s ability to maintain and enhance its side brands such as converse and Hurley have enabled it to enjoy unparalleled success for decades.
- Low Manufacturing Cost – Most of Nike’s footwear is manufactured in foreign countries. In the fiscal year 2022, Vietnam produced 44% , Indonesia produced 30% , and China produced 20% of total Nike’s footwear. Other operations are in Argentina, Brazil, India, Italy, and Mexico.
- In-house Professionals – Nike has a team of professionals that design its shoes and other athletic accessories. Nike believes that their business has flourished due to the thorough research that is conducted for each product.
- Superior Marketing Capabilities – Nike has excellent marketing campaigns. The brand heavily relies on demand creation expense , which includes advertisement, promotion, endorsement contracts, media print and complimentary products. In the fiscal year 2019, 2020, 2021, and 2022 Nike spent $3.7 billion, $3.6 billion, $3.1 billion and $3.8 billion respectively. The brand has successfully utilized social media and marketing campaigns to target more customers .
- Black Community Support – The brand has excellent marketing campaigns and recently released “ Don’t Do It ” ad campaign in support of Black communities against racism.
- High Market Share – Nike is a market leader in footwear industry . Nike has captured approximately 39% of the global athletic footwear market and 13% of global athletic apparel market.
Nike’s Weaknesses – Internal Strategic Factors
- Poor Labor Conditions in Foreign Countries – In the last 20 years, Nike has been consistently targeted regarding their poor labor conditions. These issues include forced labor, child labor, low wages, and horrific working conditions that were deemed “ unsafe ”.
- Retailers Have a Stronger Hold – Nike’s retail sector makes Nike weak due to its sensitivity against pricing. 65% of Nike products are sold directly to wholesalers or retailers. With retailers serving as their core customers, Nike does not put up a fight against their pricing structures whatsoever.
- Pending Debts – Although Nike’s income statements prove to be prosperous, a quick glance at their balance sheet could paint a different picture. Nike is still facing financial threats. As of FY21, Nike’s total long term debt was $9.4 billion
- Recently, a former employee accused Nike of discrimination based on his Croatian origin.
- Four former female Nike employees filed a class-action lawsuit against the company in August 2018. According to these women, Nike has a toxic company culture for women. The women filed their case against the sportswear company claiming that the company violated the Equal Pay Act . The women said the company engaged in systematic gender pay bias where men were paid more than women for the same amount of work.
Lack of Diversification : Nike’s over-dependence on sporting apparel or lack of diversification is a major weakness. The pandemic has discouraged physical interaction and gathering with sporting events canceled or postponed . Several sporting teams are on the brink of collapse. If the crisis discourages sporting events for longer, Nike’s losses can be catastrophic.
Contradicting Strategies : Nike pledged to shift all its facilities to 100% renewable energy with net-zero carbon emissions under the “ Move to Zero ” scheme. While the strategy is great and welcomed, it contradicts Nike’s strategy that favors innovation over sustainability. This creates the perception that Nike is not committed to addressing climate change and its pledge is just a marketing stunt.
Dependency on North America especially US Market – Even after having established itself globally, Nike still relies on the U.S Market in terms of sales and revenue. In the fiscal year 2022, about 41 % of Nike’s sales came from the North America , while the rest of 59% came globally. Despite its fame, Nike depends on the U.S for substantial sales and growth.
8. Sexual Harassment: Former female employees also pointed out that sexual harassment and misconduct was very common in the company. The New York Times conducted interviews with 50 former and present Nike employees to investigate the company culture. Through the interviews, it was established that Nike did have a toxic working environment, where sexual misconduct was rampant.
Multiple female employees reported that they had complained to the HR but saw no action being taken from their part. The women were left devastated and felt unsafe while working at Nike. Some even left their jobs. The entire controversy has significantly affected the company’s image.
Nike’s Opportunities – External Strategic Factors
- Emerging Markets – Although Nike already has a presence in many foreign countries, there is still plenty of opportunities for Nike. This is because emerging markets like India, China, and Brazil are gradually flourishing.
- Innovative Products – Although Nike has produced many products, there is still a lot to innovate. Nike has extended its reach in technology in association with fitness and health. Products like wearable technology that monitors physical activities, is the first step in building innovative technology products . Combining technology with athletic wear can prove to be beneficial as it is an aspect of the fashion industry that still hasn’t been explored much.
- Efficient Integration – The supply and production of Nike’s products depend on independent manufacturers. The brand can either acquire a few of these or make some of its own for a more efficient and streamlined supply chain.
- Cutting ties with big retailers : Nike has decided to cut ties with some of the biggest multi-brand retailers and wholesale partners. According to the report , Nike will no longer work with wholesale retailers such as Zapoo’s , Dillard’s , Fred Meyer , Bob’s Stores , etc. The step is taken for better product positioning and greater customer experience.
- Acquired Artificial Intelligence Start-up – With its vast financial resources, Nike can acquire small or medium companies or startups. It recently acquired predictive analytics platform – Celect to expand its online sales capabilities and predict customer’s shopping behavior.
- Merges with the Metaverse – Recently, Nike acquired RTFKT, a digital shoe-making company . Yes, you heard that right, the company designs shoes, but for the virtual stratosphere only. However, RTFKT also claimed that it partnered with FEWOCiOUS (a young artist) to sell real shoes along with their digital versions. Nike is banking on the opportunity to market their digital shoes on the Metaverse , where players can use their Metamask wallets to purchase different types of in-game merchandize.
- Exiting From Wholesale Distribution – Recently, Nike announced it’s going to be exiting the wholesale distribution market in the U.S. The company plans to only market its products at Nike stores , app , and websites . According to Nike, the move away from distributors is going to help them double their profit margins . Moreover, Nike will also have the opportunity to spearhead the customer shopping experience as well as control prices .
- Consumer Direct Strategy – Nike has accelerated the consumer-direct strategy, which means shifting its focus to digital business and subsequently closing physical stores. In fiscal year 2022, 42 % of its Nike revenue comes from online sales. Clearly, the pandemic is shaping up how Nike interacts with its customers.
Nike’s Threats – External Strategic Factors
- Counterfeit Products – Counterfeit products can significantly affect the revenue and reputation of Nike. The company deals globally and the risk of counterfeit products has become higher. A number of merchandisers and retailers offer counterfeit Nike products at lower prices. The low-priced products are made from low-quality materials but still have the Nike label. This can tarnish the image of the brand as the customers might feel that Nike has started producing low quality products.
- Increased competitive pressure – Although, Nike is a dominating the athletic industry, competition, and new emerging brands are still potential threats to the company. With higher competition ratio, Nike has to spend more money on marketing and advertising. Nike spent $3.8 Billion specifically on marketing and demand generation in fiscal year 2022. To overpower competition, Nike’s safest bet is to design innovative products that are tailored according to the needs of athletes.
- Marketing Budget Pressure – Companies like Under Armour , Adidas and Lululemon are spending more on marketing and advertising campaigns, increasing the pressure on Nike.
- Currency Foreign Exchange Risks – Since the brand operates globally, it is affected by fluctuating foreign exchange rates. Nike reports its financial earnings in U.S dollars. This affects its revenue as the U.S dollar is exposed to volatility against other financial currencies.
- Patent Disputes – Regardless of whether a company is wrong or right, patent disputes are hotly and fiercely contested in the public domain and expose some dirty secrets about sides in the dispute. Nike and Adidas have been engaged in a fierce patent disputes over Primeknit and Flyknit shoes in U.S. and German courts.
- Economic Uncertainty – Regardless of the industry, all companies are susceptible to the negative effects of a global recession . During lockdown, Nike had reported a decline in sales and sales can drop further in the future if the recession strikes as hard as predicted by experts.
- Trade Tensions – Nike depends on different markets across the world evidenced by the recent increase in its stocks rallied by an increase in sales in China . With China and the US as its biggest markets, a large chunk of Nike’s sales will be threatened if the trade tensions between the two giants escalate.
- Patent Conflict towards Adidas Primeknit Shoes – In an appeal to a U.S. agency, Nike filed a complaint that Adidas has been infringing on the company’s Flyknit shoe technology patent. The company also stated that the German shoe manufacturer had used Nike’s Flyknit tech in 49 shoe designs (which uses Primeknit tech). However, according to an Adidas representative , the company will fight these claims and stated that Adidas has started using their Primeknit technology after numerous years of research and development.
- Risk to Kangaroo Population – Nike has been accused of putting the Australian kangaroo population at risk of extinction. The leading athletic brand uses kangaroo skin to manufacture leather football shoes . Animal rights activists and advocates have urged Nike to rethink its strategies and to use plant-based alternatives . So far, Nike hasn’t responded to these allegations.
Final Thoughts
The fiscal 2022 proved to be successful for Nike. Although the brand is still in debt, the next few years look promising. Nike has grown exponentially in the last decade.
From releasing new product lines to building new brands, to outsourcing, and establishing a global presence alone is an extraordinary achievement.
Through this SWOT analysis of Nike, you will be able to understand the business model of the brand .
References & more information
Xu, V. (2020, March 17). Your favorite Nikes might be made from forced labor. Here’s why . The Washington Post.
- Cara Salpini( 2021, Nov 4). Nike is on track to make $50 billion this year. How much is that, really? Retail Dive
- Interbrand – Best Global Brands 2021
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Apple swot 2023 | swot analysis of apple, 25 comments.
This article was very interesting. Thank you. The article was enlightening.
Dorrene, Thanks for your positive feedback, I am glad you liked it.
It’s to easy to understand and explain to others.. Thanks it will help me my upcoming presentation. 😃
Thank you Gargi, I have been through business school not so long ago, so I can totally relate to you. I am guessing the presentation is for school?
No. I m persuing MBA integrated..
Great, All the best for your MBA!
Lot of clarity in the format – the SWOT is explained.
Using for my management program – Leadership & People Management. It’s a great help. Thanks.
Hi Choo Patrick,
I am glad you liked our analysis. Thank you !
i want to know the publisher of this analysis
Hi Ap, here are the details
Date of Publish : Dec 17, 2018 Author : SG
Quick and to the point. Good read. Thank You
Oasis, I am glad you liked it !
who wrote this article ? can i know the name? very grateful analysis.
Thanks Taku, I am glad you liked our analysis. – SG
why is there no reference?
Hi Divya, Most of the information is from Nike’s annual report and few points have embedded hyperlinks for references.
top analysis
THIS HELPED ME A LOT!
Hey, who is the author of this report and what year was it finalized. I need this info for citations.
Hey Justin,
Author: S.K Gupta First published: December 17, 2018 Last updated: Oct 06, 2020
Hey! loved it, read it in my class!
Hi Aden, Glad you loved it, happy reading !
Hey this was super helpful for a school project. Thank you.
Thanks Nicholas for the feedback, glad to see it was helpful. Happy Reading 🙂
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Introduction
- Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the US.
- The company is headquartered near Beaverton , Oregon .
- It is the world's leading supplier of Athletic shoes and apparel and a major manufacturer of sports Equipment
- Revenue in excess of US$ 18.6 billion in its fiscal year 2008 (ending May 31, 2008).
- As of 2008, it employed more than 30,000 people worldwide..
- The company was founded in January 1964 as Blue Ribbon Sports by Bill Bowerman and Philip Knight.
- officially became Nike, Inc. in 1978.
- Nike markets its products under its own brand as well as Nike Golf, Nike Pro, NIKE+ , Air Jordan , Nike Skateboarding.
- In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name.
- Nike sponsors many high profile athletes and sports teams around the world, with the highly recognized trademarks of "Just do it" and the Swoosh logo.
- Nike, originally known as Blue Ribbon Sports , was founded by University of Oregon track athlete Philip Knight and his coach Bill Bowerman in January 1964. The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger
- The company's profits grew quickly, and in 1966, BRS opened its first retail store
- By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end.
- BRS prepared to launch its own line of footwear, which would bear the newly designed Swoosh by Carolyn Davidson .
- The Swoosh was first used by Nike in June 1971, and was registered on January 22, 1974.
- By 1980, Nike had reached a 50% market share in the U.S. athletic shoe market
- Nike's first national television commercials ran in October 1982 during the broadcast of the New York Marathon .
- It was agency co-founder Dan Weiden who coined the now-famous slogan "Just Do It" for a 1988 Nike ad campaign, which was chosen by Advertising Age as one of the top five ad slogans of the 20 th century
- Throughout the 1980s, Nike expanded its product line to include many other sports and regions throughout the world.
- Nike produces a wide range of sports equipment.
- Their first products were track running shoes. They currently also make shoes, jerseys, shorts, etc. for a wide range of sports including track and field, baseball , ice hockey , tennis , etc.
- The most recent additions to their line are the Nike 6.0 , Nike NYX , and Nike SB shoes, designed for Skateboarding .
- Nike has recently introduced cricket shoes, called Air Zoom Yorker , designed to be 30% lighter than their competitors'.
- In 2008, Nike introduced the Air Jordan XX3 , a high-performance basketball shoe designed with the environment in mind.
- Nike is well known and popular in Youth Culture, chav culture and Hip Hop culture as they supply urban Fashion clothing.
- Nike recently teamed up with Apple.inc to produce the Nike+ product which monitors a runner's performance via a radio device in the shoe which links to the iPod Nano
- Some of Nike's newest shoes contain FLywire and Lunarlite Foam. These are materials used to reduce the weight of many types of shoes.
- Nike shoes are carried by multi-brand stores and the exclusive Nike stores across the globe.
- Nike sells its product to about 20,000 retail accounts in the U.S. and in almost 200 countries around the world.
- In the international markets, Nike sells its products through independent distributors, licensees and subsidiaries. I
- Independent distributors need not adapt to local pressures because the 4Ps of marketing are managed by distributors.
- Nike’s pricing is designed to be competitive to the other fashion Shoe Retailers .
- The pricing is based on the basis of premium segment as target customers.
- Nike as a brand commands high premiums. Nike’s pricing strategy makes use of vertical integration in pricing wherein they own participants at differing channel levels or take part in more than one channel level operations.
- This can control costs and influence product pricing.
- Promotion is largely dependent on finding accessible store locations. It also avails of targeted advertising in the newspaper and creating strategic alliances.
- Nike has a number of famous athletes that serve as brand ambassadors such as the Brazilian Soccer Team (especially Ronaldino, Renaldo, and Roberto Carlos), Lebron James and Jermane O’Neal for basketball, Lance Armstrong for cycling, and Tiger Woods for Golf.
- Nike also sponsors events such as Hoop It Up and The Golden West Invitational. Nike’s brand images, the Nike name and the trademark swoosh, make it one of the most recognizable brands in the world. Nike’s brand power is one reason for its high revenues. Nike’s quality products, loyal customer base and its great marketing techniques all contribute to make the shoe empire a huge success
- ADVERTISEMENTS:
- In 1982, Nike aired its first national television ads, created by newly formed ad agency Wieden+Kennedy , during the New York Marathon. This was the beginning of a successful partnership between Nike and W+K that remains intact today.
- The Cannes Advertising Festival has named Nike its Advertiser of the Year on two separate occasions, the first and only company to receive that honor twice (1994, 2003).
- Nike also has earned the Emmy Award for best commercial twice since the award was first created in the 1990s. The first was for "The Morning After," a satirical look at what a runner might face on the morning of January 1, 2000 if every dire prediction about Y2K came to fruition. The second Emmy for advertising earned by Nike was for a 2002 spot called "Move," which featured a series of famous and everyday athletes in a stream of athletic pursuits.
- In addition to garnering awards, Nike advertising has generated its fair share of controversy:
Endorsements
- Nike pays top athletes in many different sports to use their products and Promote/Advertise their technology and design.
- Nike is the official kit sponsor for the Indian Cricket Team for 5 years, from 2006 till end of 2010. Nike beat Adidas and Puma by bidding highest (US$43 Million total).
- LeBron James- $90 Million
- Kobe Bryant- $40 Million
- Christiano Ronaldo- $32.5 million
- Maria Sharapova- $6 million
- Roger Federer- $13 million
- NIKEiD is a service provided by Nike allowing customers to personalise and design their own Nike merchandise.
- They offer online services as well as physical NIKEiD studios in different countries around the world, including: United Kingdom, France, Spain, Germany, China and the USA.
- It provides customers the ability to choose from a limited range of different material and colours to develop their own style of tennis shoe.
- It gave a total of 31 different customizable parts including the base, overlay, accent, lining, stitching, outsole, laces, etc.
- In total this shoe gave a choice of 82 different materials and option types.
- It has since expanded from a small web-based service to a large array of stores and new software applications to give consumers a greater range of personalization and uniqueness in a variety of Nike shoes and clothing.
Child Labour Controversy
- Nike has been accused of using child labour in the production of its soccer balls in Pakistan.
- While Pakistan has laws against child labour and slavery, the government has taken very little action to combat it.
- Furthermore the U.S constitution states that child labour is an illegal and inhumane practice and any U.S. company found guilty practicing and encouraging it will be prosecuted.
- GATT and WTO prohibits member nations, like the United States, from discriminating against the importation of goods made by children.
- Are dolphins becoming more important than children? A question making WTO to reconsider the children's appeal of the third world.
Competitors
- Reebok International Limited , a subsidiary of the German sportswear giant adidas , is a producer of athletic footwear , apparel, and accessories.
- In 1890 in Holcombe Brook, a small village 6 miles from the town Bolton , England , Joseph William Foster was making a living producing regular running shoes when he came up with the idea to create a novelty spiked running shoe.
- After his ideas progressed he joined with his sons, and founded a shoe company named J.W. Foster and Sons in 1895.
- In 1960, two of the founder's grandsons Joe and Jeff Foster renamed the company Reebok in England, having found the name in a dictionary won in a race by Joe Foster as a boy; the dictionary was South African edition hence the spelling.
- The company lived up to the J.W. Foster legacy, manufacturing first-class footwear for customers throughout the UK.
- In 1979, Paul Fireman, a US sporting goods distributor, saw a pair of Reeboks at an international trade show and negotiated to sell them in North America
- Adidas is a major German-based sports apparel manufacturer and Parent Company of the Adidas Group, which consists of the Reebok sportswear company, Taylor made adidas golf company , and Rockport .
- Besides sports footwear, the company also produces other products such as bags, shirts, watches, eyewear and other sports and clothing-related goods. The company is the largest Sportswear manufacturer in Europe and the second biggest sportswear manufacturer in the world, after its U.S. rival Nike.
- Adidas was founded in 1948 by Adolf Dassler .
- Registered in 1949, Adidas is currently based in Herzogenaurach , Germany, along with Puma.
- The company's clothing and shoe designs typically feature Three parallel Bars , and the same motif is incorporated into Adidas's current official logo .
- The "Three Stripes" were bought from the Finnish sport company Karhu Sports in the 1950s.
- The company revenue for 2009 was listed at € 10.38 billion and the 2008 figure at €10.80 billion.
Complete Business Model of Nike | IIDE
By Aditya Shastri
Nike’s journey from a Japanese shoe importer to building one of the largest and most iconic sportswear brands in the world today. The Journey has been so stimulating and phenomenal. Nike is the leading brand of athletics shoes, apparel, sports equipment, and sports-related services. It has a market share of $39.1 billion making it the largest sports brand in the world.
Nike, one of the most valued apparel brands, has always kept its customer on their toes with its captivating advertisements and athlete endorsements with the best-known sportspersons like Cristiano Ronaldo. Thus this makes us eager to know the business model of Nike.
In this Case Study, We will be discussing the business model of Nike and its marketing strategies.
But, before we go through its business model let us know about Nike as a company.
About Nike
Founded in 1964 as Blue Ribbon Sports by the Coach and Student duo, Bill Bowerman and Phil Knight who are currently the co-founders of the company. It became Nike in 1971 which was named after the Greek goddess of victory.
The company’s world headquarters are situated near Beaverton, Oregon, (USA). It employs over 75,500 people around the globe. In 2020 the brand alone was valued at around $32 billion, making it the foremost valuable brand among sports businesses.
Nike is well known for its ‘Swoosh’ logo and its “Just Do It” slogan. Other than its own brand, Nike also markets its product offerings under the brand names Nike Pro, Nike+, Nike Golf, Nike Blazers, Air Jordan, Air Max, and others as subsidiaries including brands Jordan, Hurley Int. and Converse.
Now having known so much about the company, let’s understand how does this valuable brand make money by looking at its detailed business model.
Business Model of Nike
The business model is used to determine a company’s plan for generating revenue. It determines the products or services the business plans to sell, its identified target market, and any anticipated expenses.
Let’s take a look at all the elements of Nike’s Business model one by one.
Let us start with Nike’s product offerings.
1. Nike’s Product Offerings
Nike is predominantly into the business of selling footwear and sports apparel in the following product categories — Running, Nike Basketball, the Jordan Brand, Football (Soccer), Training, and Sportswear. The company owns the Converse brand as well.
Let us now see Nike’s customer segments.
2. Nike’s Customer Segments
Nike markets itself to anyone who wants to purchase athletic and sports apparel, footwear, and equipment. Geographically speaking, Nike’s customer market is split into 4 main divisions, in order of revenue the regions being- North America, EMEA (Europe, Middle East, and Africa), Greater China, and APLA (the Asia Pacific and Latin America).
Let us now see Nike’s value proposition.
3. Nike’s Value Proposition
Nike offers a diverse variety of products to inspire anyone to become an athlete. Their products heavily rely on the quality of their products, innovation (R&D), and status of the brand. This is the foundation of the Nike brand and it’s exactly what the customers seek when they buy a Nike product.
Let us now check the marketing channels of Nike.
4. Nike’s Marketing Channels
Nike uses many different channels for marketing. Its main marketing channel is its brick-and-mortar stores, especially the Nike-branded ones. The company has a scattered sales network, with 1,152 physical stores throughout the globe. Nike also has an e-commerce platform, which serves in over 45 countries.
Besides these channels, Nike also employs other channels, such as social media, digital, print, TV advertising, brand events, and heavy sponsorship of athletes and teams.
Now we shall see Nike’s customer relationship.
5. Nike’s Customer Relationships
The relationship with the purchasers is practically restricted to self-service. The customer can check the merchandise in the store (online or offline), buy and use it. Nike also assigns each of its customers a unique Nike ID which is a personalization service that brings Nike products closer to customer’s desires.
Let us now see Nike’s revenue stream.
6. Nike’s Revenue Streams
The revenue of the company is derived from the sales of its products: footwear, apparel, equipment, and accessories. In the past ten years, Nike has successfully managed to grow its revenue at a compounded annual rate of growth of 7.0% from US $19.0 billion in 2010 to US $37.4 billion in 2020.
Nike makes money by merchandising footwear via wholesale customers that distribute the Nike brands across the world.
Let us now see the key resources of Nike.
7. Nike’s Key Resources
It has five physical distribution centres all over the world. It also has a team sports research lab and it has the third-largest design patent portfolio within the United States.
Let us now see what are the key activities of Nike.
8. Nike’s Key Activities
The main key activity of the corporate is designing and developing the products. In order to achieve that, other activities are involved, such as negotiation with the suppliers, marketing, sales, and advertising are essential.
Let us now see the key partners of Nike.
9. Nike’s Market Share
Nike Waffle Shoes sold for $475,500, becoming the most expensive sneakers ever auctioned while Nike at present has 1,152 brand stores worldwide. Nike’s market share stood at around 27.4% during 2019, before its industry rivals Adidas and Reebok, making Nike the world’s largest company in the global footwear market.
Let us now see Nike’s competitor’s analysis.
10. Nike’s Competitors Analysis
Nike is amongst the largest and top three sports apparel companies i.e. Nike, Adidas, and Reebok and which makes the other two companies the top competitors of Nike Inc.
Adidas & Reebok
In 2005, Adidas acquired Reebok for $3.8 billion. After the businesses, Reebok and Adidas have acquired a robust position to compete with Nike. Adidas group consists of three subsidiaries i.e. Reebok, Runtastic, and TaylorMade.
Accordingly, Adidas and Reebok are the strongest competitors of Nike with Adidas being the second-largest shoemaker in the world. Adidas’s brand valuation is $14.3 billion and revenue amounted to 21.218 billion (Euro), whereas Reebok’s revenue amounted to 1.41 billion (Euro).
Let us see the cost structure of Nike.
11. Nike’s Cost Structure
The largest expense for Nike is the cost of goods sold (mostly inventory and warehousing), that account for over $21 billion per year. In addition, around $3 billion are spent on marketing, including advertising and promotion costs, sponsorship, media, brand events, and retail brand presentation. The rest of the general and administrative expenses account for over $500 million expense each year.
After having understood the business model of Nike, let’s dive into the digital marketing that contributed to the success of the company.
Secrets behind the Digital Marketing Strategies Adopted by Nike
Nike has successfully transformed the athletic industry with its technological innovations, but today many of us know the corporate by its flashy ads and sports celebrities.
Well most definitely Nike can be termed as a marketing-oriented company, and their product is their most vital marketing tool. In digital marketing, when the term monsters are used, it basically refers to those giant companies whose success is immense, and every action within their online strategy implies multimillion-dollar profits. Nike is one among the other representatives of this category and a king in Marketing.
Let’s look into the Secrets Behind Digital Marketing Strategies Used by Nike.
1. Focus should always be on Telling a story instead of the brand itself
Nike believes that Gone is the era in which the marketing strategies were linked to giving characteristics of the company’s products only, in today’s date brands have to sell a story to keep people hooked for a longer-term.
Nike implemented this by shifting its focus from object-based ads to create a story around inspiration. ‘Just Do It’, Nike’s well-known slogan that invites a lifestyle that revolves around overcoming difficulties and invites people to reach their own potentials.
Let us now see the platforms that Nike uses.
2. Using the Platforms that the Customer Use
Nike found out that its target audience preferred youtube as its customer channel rather than television.
Nike believed that a brand must not be the one that just waits for the customer to find them. Instead, it should be the ones who must do the work of reaching its target audience. As a result of this, Nike’s latest video ads have had more airtime on YouTube than on television.
3. Always Allow the Target Audience to create their own content
Nike believes that a brand must give its customers the opportunity to customize its products according to their needs and preferences. For this Nike gave the customers the option of customizing the design of sports shoes in accordance with their style. This strategy makes users feel like a valuable subject for the company.
Source: www.medium.com/@OnTechedge
4. Develop Viral Content that people will love to read and share
The history of Nike advertising has witnessed many ups and downs, but most of the time, the trend has been phenomenal. Nike has always believed that creating viral content is the key to grab your target market’s attention.
Implementing this they have always innovated and proposed new ways of distributing new ideas. And as a result, Nike’s advertising became popular all around the world which isn’t so easy to achieve for a sports shoe manufacturing company.
5. Always Be Aware of the Current Social Issues
It is very important for any brand to be aware of the current social issues surrounding the world. It should have few campaigns addressing them, for this Nike always tried to project a picture of authenticity and choose such protagonists for its advertisements characters that symbolized nascent social and cultural movements.
In the following years, Nike has developed its tactics by placing a greater emphasis on the spokesperson of its products and combining them into a successful strategy, by signing contracts with the most popular athletes. Which made it an “Athlete’s Brand”.
With this, our case study on Nike’s business model has come to an end. So let’s conclude this case study.
On the analysis of the business model of Nike, we can see that it has implemented its business model splendidly. Its product offerings, customer segmentation, value proposition, customer relationship, key activities, etc are on point.
The evolution of Nike’s advertising campaign proves that the digital marketing strategies were a hit. The success story of Nike is halfway based on constant innovation and timely investments, which have resulted in Nike making a profit of over millions of dollars each year.
The success of the business model of Nike relies on the sum of innovation and marketing. The company faces some serious competition in the market – such as Adidas or Reebok. Honing their digital marketing strategy, Nike is making master moves to ensure that they are at the forefront of digital marketing and giving customers what they want, easy and fast.
Wasn’t it interesting to know the business model of Nike? Learn how to grow your business using digital marketing, check out our website for more information .
You can also check out Free Digital Marketing Masterclass by IIDE to understand what digital marketing is all about.
If you are interested in digital marketing and wish to be in touch with our academic counsellors then connect with them at [email protected] for a free counselling session.
Hope you liked this case study and found it informative and insightful!
Aditya Shastri
Lead Trainer & Head of Learning & Development at IIDE
Leads the Learning & Development segment at IIDE. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. He has been a guest speaker at prominent colleges in India including IIMs...... [Read full bio]
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Nike, Inc - Company Overview, History, Products
Nike Inc. is one of the most popular American multinational companies that manufactures and sells footwear, clothing apparel, sports equipment, accessories, and other services. Nike is currently involved in design development manufacturing worldwide marketing and sales of its own merchandise products. It is currently headquartered in Beaverton, Oregon near the Portland metropolitan area. Nike currently employs more than 76,700 employees worldwide.
The most popular thing that Nike has been famous for is its large supply of athletic shoes and sports equipment that are made in collaboration with famous sports personalities like Michael Jordan, Ronaldo, and Rory Mcilroy. Nike did the biggest collaboration with athlete Rory Mcilroy in 2013 for about $250 million for the next 10 years.
In the financial year 2021, Nike generated a revenue of more than 45 billion dollars which made it one of the most valuable sports luxury brands. Nike's currently listed on the New York stock exchange market with a market capital of 180 billion dollars. Nike currently holds 313th rank in the Fortune 500 companies by revenue in the United States. The CEO of Nike is John Donahoe.
History of Nike:
Nike was founded by Bill Bowerman and Phil Knight as a Blue ribbon sports (BRS) company on January 25, 1964. Later on, its name was changed to Nike Inc in 1971. At the start of the company at the University of Oregon, Nike used to train student-athletes for the summer Olympics and then manufacture Nike shoes for them after they won. This led to common thinking within the people's minds that these shoes help them to win medals at Olympics.
By 1965, Nike made $20,000 dollars in the sales of its sneakers. By 1980, Nike had achieved a 50 percent market share for sneakers and athletic shoes. Nike also bought Bauer Hockey from 1994 to 2009 and some other companies including Cole Haan, Umbro, and Hurley International. In 1971, in addition to the manufacturing of their sports apparel and clothing, Nike also started its advertisement business using their high-profile football and basketball stars using the trademarks of " Just Do It '' and the Swoosh logo.
Nike acquired multiple clothing apparel and footwear brands like Bauer Hockey in 1994, Hurley International in 2002, and Converse in 2003 for 309 million dollars. In 2015, Phil Knight stepped down from the board of Nike and resigned. Then in 2019, John Donahoe became the CEO of Nike and its next brand president. He also started directly collaborating with E-commerce websites like eBay and Amazon for Nike during the Covid-19 period.
Nike - Products and Services:
The various production services of Nike are as follows:
Athletic Shoes - Nike is hugely known for its athletic shoes like Nike Air Max and Nike Jordan which are made in collaboration with a famous basketball player Michael Jordan. Nike has also partnered with football star Ronaldo to release his own version of the shoes.
Sneakers - These casually designed shoes made by Nike are the second highest revenue gainer for them which include Air force 1, Nike dunk, Foamposite, Nike Skateboarding, Nike +, and Nike Blazers.
Sports Equipment - Nike also sells its sports equipment for various sports like football, basketball, cricket, baseball, golf, and ultimate frisbee.
Clothing Apparel - Nike also has its own clothing apparel lineup which includes t-shirts, shorts, and other sports clothing that one might need while playing.
Jerseys - Since Nike sponsors multiple sports teams in football, baseball, and other sports, it also sells its jerseys to football fans or basketball fans. For example, Nike sells the jersey of Liverpool FC officially.
Sponsored Merchandise - Nike is famous for promoting and advertising its sports brands by paying top athletes to use its products. Like this successful basketball player Michael Jordan is officially a billionaire due to the successful Nike Jordan athletic shoes. Other players sponsored by Nike include Ronaldo, Neymar, Rory Mcilroy, Carl Lewis, Tiger Woods, Sebastian Coe, and many more. Nike sells merchandise like shoes, clothing, and sports equipment by asking these popular athletes to use them.
Wrapping Up:
Hence, Nike is one of the largest multinational sports companies that is famous for its sales of athletic shoes, sneakers especially the Jordan and clothing apparel, sports equipment, and other services. It is the largest supplier of athletic shoes all over the world and it is the most valuable brand in its legacy of sports.
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Nike Junior Golf Camps and Raspberry Golf Academy Form Strategic Alliance
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Raspberry Golf Academy and US Sports Camps establish relationship to host Nike Junior Golf Camps across Northern Virginia properties.
Raspberry Golf Club plays host to Nike Junior Golf camps in Loudon County, VA this summer.
Raspberry Golf Academy is a highly reputable organization and we are thrilled to be working with them to manage and grow their junior camp operations.
SAN RAFAEL, Calif. (PRWEB) March 11, 2020
Raspberry Golf Academy (RGA) has agreed to operate summer junior golf camps in Virginia under the Nike Junior Golf Camp banner across their properties beginning in 2020. The relationship between RGA and US Sports Camps (USSC) aims to provide golfing families with greater access to quality instruction and summer opportunities.
“Raspberry Golf Academy is a highly reputable organization and we are thrilled to be working with them to manage and grow their junior camp operations,” states National Director of Nike Junior Golf Camps, Nicholas Brunner. “Starting this summer, we will implement the Nike Camp model across their courses which enables us to streamline their junior camp offerings, ultimately leading to an enhanced experience for participants and the host facilities.”
US Sports Camps, the nation’s largest provider of sports camps, will support the RGA camp operations via their marketing expertise, administration, customer service and other support services. The programs will continue to utilize existing RGA staff on-site, keeping the style and philosophy of their respective instructors, while integrating the Nike Camp framework. The two companies will work in conjunction with the common goal of increasing participation in the sport and exposing juniors to experienced instructors.
“I am proud to announce the new partnership between Raspberry Golf Academy and Nike Junior Golf Camps. We are extremely excited to host fun, all ability level Nike camps at our RGM club locations in the Northern Virginia market,” says Raspberry Golf Academy Founder and Director, Patrick McGuire.
Programs range from half day camps, which include instruction on all facets of the game, to full day camps where players also receive afternoon course play with staff. All aspects of the game are addressed during the camp session; putting, chipping, pitching, full swing, strategy, rules, and etiquette. Campers participate in drills, skills challenges, and other fun games throughout the week. Ages range from 6-16 (depending on the camp type) and the programs are coed and open to players of all skill levels and interests.
Find the complete list of RGA Nike Junior Golf Camp locations below:
- Raspberry Falls Golf & Hunt Club, Leesburg, VA, Nike Junior Golf Camps, Raspberry Falls Golf Club
- Bull Run Golf Club, Haymarket, VA, Nike Junior Golf Camps, Bull Run Golf Club
- Virginia Golf Center, Clifton, VA, Nike Junior Golf Camps, Virginia Golf Center
- Old Hickory Golf Club, Woodbridge, VA, Nike Junior Golf Camps, Old Hickory Golf Club
About Nike Junior Golf Camps
Nike Junior Golf Camps (NGJC) is a division of US Sports Camps, Inc., America’s largest sports camp network. NGJC offers junior overnight and day camps, advanced player camps and short-game camps at over 200 locations nationwide. Since 1994, more than 200,000 junior golfers have participated in the camps. To explore a variety of camp options and locations please visit the official website for Nike Junior Golf Camps.
About Raspberry Golf Academy
The Raspberry Golf Academy was founded in 2007 at the Raspberry Falls Golf and Hunt Club, Leesburg, VA. Since that time, the school has grown with locations at many of the best semi-private facilities in the Northern Virginia, Southern Pennsylvania, and Phoenix areas.
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MLB star rips Nike over Ja Morant statement after Kyrie Irving controversy, calls company 'trash'
It's unclear when morant will return to the grizzlies.
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Chicago Cubs star Marcus Stroman took issue with Nike’s statement on Memphis Grizzlies point guard Ja Morant in the wake of the basketball player’s gun controversy.
Nike released a statement in support of Morant, who is away from the Grizzlies with no timetable to return to the organization. Nike announced in February they would release Morant’s first signature shoe in April.
"We appreciate Ja’s accountability and that he is taking the time to get the help he needs. We support his prioritization of his well-being," the company said, via The Athletic.
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Marcus Stroman of the Cubs pitches against the San Francisco Giants at Wrigley Field on Sept. 16, 2022, in Chicago. (Matt Dirksen/Getty Images)
However, Stroman took issue with Nike’s comment and wondered what the difference was with the Kyrie Irving situation.
The Dallas Mavericks star and former Brooklyn Nets guard tweeted a link to an Amazon movie that included antisemitic disinformation. The tweet created a firestorm in the NBA world and the Nets suspended Irving until he apologized for the tweet. Nike parted ways with Irving over it.
"Kyrie posted a link with zero comments and they ended his contract. I always knew Nike was trash. Thankful to be free from any of these companies!" Stroman tweeted Sunday.
Morant appeared to brandish a gun at a nightclub early Saturday morning. The Grizzlies said he would be away from the team for at least two games but coach Taylor Jenkins said before Sunday’s game against the Los Angeles Clippers that Morant doesn’t have a timetable to return.
Marcus Stroman of the Cubs pitches against the Cincinnati Reds at Wrigley Field on Oct. 2, 2022, in Chicago. (Jamie Sabau/Getty Images)
NBA GREAT PAUL PIERCE COMES TO JA MORANT'S DEFENSE OVER GUN CONTROVERSY: 'Y’ALL DON’T KNOW WHAT HE GOING THRU'
Jenkins said Morant has made "difficult decisions and poor choices" that he has to be accountable for.
"He’s definitely embracing the mistakes that he’s made but only time will tell. We’re going to support him and we’re going to hold him accountable to make those changes," Jenkins said, declining to lay out the exact steps Morant needed to accomplish to return to the Grizzlies.
Ja Morant of the Grizzlies warms up before the game against the Chicago Bulls at FedExForum on Feb. 7, 2023, in Memphis, Tennessee. (Justin Ford/Getty Images)
"We love him, we want what’s best for him, we support him. It’s going to be a difficult process but we’ve got a great group to get through this."
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Jenkins added that it was "an ongoing healing process."
The Associated Press contributed to this report.
Ryan Gaydos is a senior editor for Fox News Digital.
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Company Bylaws; NIKE, Inc. Executive Officers; Public Policy and Political Engagement; ... February 9, 2023 NIKE, Inc. Declares $0.340 Quarterly Dividend. December 20, 2022 NIKE, Inc. Reports Fiscal 2023 Second Quarter Results. Latest Presentations. September 8, 2013 Test Presentation 2. View this Presentation (PDF 4 KB) January 2, 2013 Test ...
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NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2021 fourth quarter and full year ended May 31, 2021. Fourth quarter reported revenues were $12.3 billion, up 96 percent compared to prior year and increasing 21 percent compared to the fourth quarter of 2019. Full year reported revenues increased 19 percent to $44.5 billion.
Nike makes all sorts of clothing for sporting activites including things like yoga and dance. They also make casual clothes for men, women and kids and a lot of people wear Nike clothes not just for sport, but also for brand status Shoes are Nike's main product.
Nike, Inc. is an American multinational corporation. Nike is headquartered in Beaverton, Oregon, USA. It was found by Bill Bowerman and Phil Knight in the year 1964. The company specializes in athletic wear, providing footwear, apparel, athletic equipment, and accessories.
Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the US. The company is headquartered near Beaverton, Oregon. It is the world's leading supplier of Athletic...
Nike is the leading brand of athletics shoes, apparel, sports equipment, and sports-related services. It has a market share of $39.1 billion making it the largest sports brand in the world.
Reporting is the primary tool we use to disclose important information to our stakeholders about how we manage social and environmental issues and impacts, as well as our targets and report progress against them. Reporting is also an indicator - to us and others - of our ability to succeed and thrive as we systemically address risk management, efficiency, innovation and future-looking ...
Nike Inc. is one of the most popular American multinational companies that manufactures and sells footwear, clothing apparel, sports equipment, accessories, and other services. Nike is currently involved in design development manufacturing worldwide marketing and sales of its own merchandise products.
Job posted 2 hours ago - Nike is hiring now for a Full-Time Nike Jobs - Retail Sales Associate in Ashburn, VA. Apply today at CareerBuilder! ... Apply on company site. You're being taken to an external site to apply. ... Visual Presentation, and Stockroom Deliver the best possible service and attention to all consumers Assist the team in ...
SAN RAFAEL, Calif. (PRWEB) March 11, 2020 Raspberry Golf Academy (RGA) has agreed to operate summer junior golf camps in Virginia under the Nike Junior Golf Camp banner across their properties beginning in 2020. The relationship between RGA and US Sports Camps (USSC) aims to provide golfing families with greater access to quality instruction and summer opportunities.
Select your sport and get into camp! If you need more assistance, just give us a call at 1-800-645-3226 we would be happy to help!
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Chicago Cubs star Marcus Stroman took issue with Nike's statement on Memphis Grizzlies point guard Ja Morant in the wake of the basketball player's gun controversy. Nike released a statement ...