Nike revolutionized the world of sports equipment and became one of the most iconic brands of our time. At the origin of this idea is a man: Phil Knight, a young student who was only twenty years old at the time, but who turned out to be ambitious. He wants to turn his passion for running into his profession. Focus on the inspiring journey of one of the most influential men in the world.
The idea for Nike was born in the middle of a morning run. Phil Knight was driven by an irrepressible desire to revolutionize the world. He was passionate about sport and knew how to surround himself with the right people when he started to succeed in expanding his project. “I had always suspected that the secret of happiness, the essence of beauty or truth or anything worth living, lies somewhere in that moment when the ball is in suspension, when the boxers feel that the bell will soon ring, when the runners approach the finish line and the public stands up as one. There is a kind of exuberant clarity in that half-second that determines winners and losers. And I wanted to win. This is what I wanted my life to be every day.” he specifies in his book.
The academic and university career of Phil Knight
Originally from Portland, Oregon, Phil Knight was born on February 24, 1938 in the United States. He is the son of William Hampson, lawyer and publisher of the Oregon newspaper. He completed his high school education at the Cleveland School before enrolling at the University of Oregon, where he earned a bachelor’s degree in accounting and a degree in journalism in 1959.
Phil Knight is a true sports fan and spent most of his time at athletics stadiums where he practiced cross-country running. This is where he met trainer Bill Bowerman who would become his partner a few years later. He is also keen on jogging, an activity that he practices regularly and which will be at the origin of the idea for Nike. In terms of studies, he obtained an MBA in 1962 from the Stanford Graduate School of Business in California.
The complicated origins and beginnings of Nike
L’“crazy idea” crossed the mind of Phil Knight while jogging in 1962. His plan was clear: to put on the market very high quality shoes that would be imported from Japan and sold at a competitive price in the United States.
At 24, Phil Knight traveled the world. He travels to the four corners of the globe with his only companion: his backpack. His travels greatly enriched him both culturally and professionally. He went to Japan full of hope and ambition, despite the fact that international tourism was not as developed at the time, with only one idea in mind: to soak up the Japanese culture and understand all the marketing secrets of this country while living the Japanese experience to the fullest.
Phil Knight then lands his first contract with the company Onitsuka for the launch of his project. He ordered a dozen pairs of shoes using the $50 he borrowed from his father. Phil Knight always knew he didn’t want to follow a traditional path once he graduated. Its primary objective was to launch an innovative project and offer a new product.
The launch of Blue Ribbon Sports by Phil Knight
Phil Knight joins forces with his former sports coach, Bill Bowerman, and develops the Blue Ribbon Sports brand with him. They thus began marketing Tigres shoes, sold for 7 dollars (compared to 9 dollars for Adidas). They quickly became a reference among runners. The company quickly grew and expanded, until the Japanese company decided to market these products itself.
In 1965, Jeff Johnson, Phil Knight’s best friend, joined the adventure as a salesman and representative of the brand. He traveled in a van and went to the edge of the athletics tracks to promote the company’s image. It was in 1967 that the company opened its first stores in Santa Monica and California.
Nike: Birth of a legend
In 1971, the company changed its name. It was Jeff Johnson who proposed this idea to his best friend, following a dream he had. The name actually appeared to him while he was sleeping. Phil Knight therefore remembers his trip to Greece, when, in front of the temple ofAthena Nike (Athena, the Victorious), the founder had a revelation that would change his life forever. Although, at the time, the brand had still not been born, he was deeply convinced that this name would change his life. The same year, the famous Swoosh was born. The company’s logo was created by a graphic arts student, Carolyn Davidson, for $35.
Nike’s big takeoff
Nike shoes quickly gained ground against its competitors (Adidas, Puma, etc.). Much more than shoes, they occupy the center of attention and stand out, for some, as true works of art. In 1972, sales took off. Phil Knight was never satisfied with the results he achieved and aimed even higher. The shoes he proposed had to be a real symbol and representation of Nike’s identity for consumers.
He revolutionized marketing techniques and is at the origin of the concept of sponsorship. He called on the best-known athletes to become ambassadors for the brand and promote it to their community. Wearing Nike has become a symbol of fighters. “ Just do it » reflects the spirit and values of Phil Knight.
His autobiography, The art of victoryproves that determination and the courage to take action can achieve great things. In his early days, the founder of Nike admits that he was not a charismatic entrepreneur. He had faced great difficulties, but still came through well thanks to an unwavering confidence in his idea.
Phil Knight’s fortune
Today, Phil Knight’s fortune is necessarily indexed to the company’s valuation and Nike’s share price. Indeed, the founder of Nike owns 9.3% of the company’s class A shares and 0.9% of the class B shares. His fortune varies every day. As of mid-April 2021, it is estimated at around $50 billion.
