Nike vs. Adidas
Nike vs. Adidas
Nike, Inc. and Adidas GA are the world’s top two largest sports apparel and footwear providers respectively. The 2008 financial statements indicate $3.4 billion dollars in revenue separates the two companies. Adidas started in the 1920’s and Nike began in the 1960’s. Both companies offer similar lines of products and have similar marketing strategies. This paper will compare and contrast the financial reports for both companies.
Nike, Inc. Overview
In January of 1964, track athlete Philip Knight and his coach Bill Bowerman, from the University of Oregon founded Nike, originally known as Blue Ribbon Sports (BRS). BRS was the distributor of a Japanese shoe maker company, making most of their sales at tracks out of Knight’s vehicle. In 1966, they opened their first retail store in Santa Monica, California, and in 1971, BRS launched their first line of footwear.
BRS first sale to the public was a soccer shoe named “Nike” in the summer of 1971. In 1978, BRS, Inc. officially changed their name to Nike, Inc. The company started to sponsor professional athletes with the intent to expose merchandise and to market the product. Nike started getting noticed by the public and it became a successful company by 1980, when they conquered 50% of the United States athlete shoe market.
Nike, Inc. is currently one of the world’s leading supplier of athletic shoe, apparel, and the manufacturer of sports equipment. Products include athletic shoes, apparel, sports equipment and accessories. The company’s headquarters is located in Beaverton, Portland. In 2008, their revenue exceeded $18.6 billions US dollars and they currently employ more than 30,000 people worldwide.
Nike, Inc. Financial Statements
Nike, Inc.’s fiscal year ends in May of each year. The 2008 balance sheet of Nike, Inc. indicates the company completed the year with total assets of US$12.442 billion dollars, total liabilities of US$4.617 billion...