Owning about 37% of the US athletic shoes market, Nike is in fairly good shape. Its popularity is due largely to the use of Nike shoes by famous athletes such as Michael Jordan. Its largest competitor is Reebok, which owns 20% of the market. Nike not only produces shoes, but it also produces athletic apparel and accesories. Since almost all of the famous athletes use their products, Nike does not have a hard time selling its products, although they are looking for a way to expand.

Nike was started in 1958 by Phil Knight, a track runner. His idea was to create a good American running shoe. Phil Knight and his coachdesigned a running shoe, and had a shoe manufacturer create it. Then called Blue Ribbon Sports, Knight changed the name to Nike after the Greek goddess of victory, and the swoosh logo was added. Then, in 1972, four of the top seven olympic marathon runners were wearing Nike shoes, persuaded by Knight and Bowerman. Running was increasingly popular, and after the next design of the waffle running shoe, Nike increased profits considerably. Then, after running became less popular, Nike shifted its products to conform to the newest rage in fitness, and continued doing so. Then, when Nike created basketball shoes, they began to profit enormously. Using Michael Jordan to advertise, they quickly made it to the top with their Air Jordans.

NYSE symbol: NKE