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Nike, Inc. is a multinational corporation that specializes in the design, dev...
Nike, Inc. is a multinational corporation that specializes in the design, development, and marketing of footwear, apparel, and accessories. Founded in 1964 by Philip Knight and University of Oregon track coach Bill Bowerman, Nike has become one of the largest and most successful sportswear companies in the world.Company HistoryThe company's origins can be traced back to 1964, when Philip Knight, a young University of Oregon student, borrowed $50 from his father to start a business with Bill Bowerman, his track coach at the university. The pair began by selling self-designed running shoes out of the back of their car. In 1968, they introduced their first Nike product, the Waffle Trainer, which became a hit with serious runners.In the 1970s, Nike continued to grow and expand its product line, introducing new shoe models and clothing lines. The company also increased its marketing efforts, signing high-profile endorsers such as basketball player Michael Jordan and Olympic sprinter Carl Lewis.In 1980, Nike went public and began trading on the stock market. The company continued to innovate and introduce new products, such as the Air Max line of shoes, which incorporated air-cushioning technology.In the 1990s, Nike expanded its global reach and entered new markets, including Europe and Asia. The company also increased its focus on sustainability and social responsibility, introducing environmentally friendly manufacturing processes and partnering with charitable organizations.Today, Nike is one of the largest sportswear companies in the world, with a market value of over $100 billion. The company's products are sold in more than 170 countries worldwide and are worn by athletes and celebrities of all stripes.Products and ServicesNike specializes in the design, development, and marketing of footwear, apparel, and accessories. The company's products include a wide range of shoes, clothing, and accessories for different sports and activities. Nike's signature products include the Air Max line of shoes, which incorporate air-cushioning technology; the Flyknit line of shoes, which are made from a strong and lightweight yarn; and the Nike Dri-FIT line of clothing, which wicks away sweat to keep athletes dry and comfortable.In addition to its core products, Nike also offers a range of services, including customization and personalization options for its products; Nike+ membership program, which provides exclusive benefits and experiences for members; and Nike Training Club, a digital training app that provides users with workout routines and tips.Sustainability and Social ResponsibilityIn recent years, Nike has made a concerted effort to be more sustainable and socially responsible. The company has implemented a range of environmental initiatives, including using sustainable materials in its products; reducing waste and emissions in its manufacturing processes; and partnering with organizations like the World Wildlife Fund to protect natural resources.Nike has also been criticized in the past for its use of sweatshops and child labor in its supply chain. In response to these concerns, the company has taken steps to improve its supply chain practices, including increased monitoring and auditing of factories; and providing benefits and compensation packages to workers that are above industry standards.