In 1993 The Sporting News named Nike founder Phil Knight “the most powerful man in sports”. In just over 30 years Phil Knight had gone from needing $500 dollars from his father to help import cheap Adidas imitations from Japan, to controlling a dominant multinational earning $3.9 billion annually in revenue. Phil Knight became the living embodiment of success in an ever competitive global marketplace. How did he do it? First, we need to start at the beginning. Phil Knight was born in Portland, Oregon, on February 24th, 1938. He studied at the University of Oregon, graduating with a degree in journalism in 1959. He was a middle-distance runner for his University, once running a mile in an impressive 4 minutes and 13 seconds. Upon completing …show more content…
Nike was one of the first companies to see the public’s obsession with celebrity. They took advantage of this early on as a business, convincing athletes of the quality of their product and allowing athletes to convince the consumers. A good example of the power of celebrity is that of the tennis player John McEnroe. When he switched to Nike tennis shoes during Wimbledon in 1985, sales of that particular model jumped from 10,000 sold the year before to well over a million. Ultimately it was another signing of an elite athlete that proved pivotal in Nike’s rise to the top of the sports food chain. In 1984 they put their faith in a charismatic 21 year called Michael Jordan. At the time it was a potentially risky move, but it proved immensely fruitful for both parties. Nike propelled Jordan’s celebrity, and Jordan propelled Nike’s sales - even today Air Jordan remains a billion dollar franchise. Nike have also enjoyed the ability to remain in the minds of the public thanks to their memorable logo. Phil Knight payed just $35 dollars to a Portland State art student in 1971 for the famous ‘swoosh’, and in return has gained a symbol recognizable all over the world, and something that has become an iconic part of Western