1970s
Phil Knight created the Futures Program, giving retailers a 7% discount for paying for orders six months in advance.
“if you commit and pay for your orders six months in advance, Blue Ribbon will give you a 7% discount.”
Topic
Nike
39 facts from 9 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1970s
To get around amateur rules, Phil Knight employed runner Steve Prefontaine as Nike's national director of public affairs for $5,000 a year.
“So what Phil does is he decides to employ Pri as a corporate employee of Nike as the national director of public affairs for $5,000 a year.”
1971
Carolyn Davidson was paid $35 for designing the swoosh and later received Nike stock before the IPO.
“Now, ultimately, they do give Carolyn stock in the company before the IPO. So she makes more than $2 an hour. But for this project, she was paid $35.”
1976
Blue Ribbon Sports officially changed the name of the company to Nike in 1976.
“It was 1976 when they officially changed the actual name of the company to Nike.”
1977
In 1977 Sonny Vaccaro pitched a new shoe idea to Nike's Oregon offices, and executive Rob Strasser was interested in his relationships with coaches.
“Nike wasn't interested, but Rob Strasser, one of the company's top executives at the time, was fascinated by Vaccaro's relationships with all those coaches.”
1977
Rob Strasser hired Sonny Vaccaro for 500 dollars a month and deposited 30,000 dollars in his account to sign coaches to Nike endorsement contracts.
“He hired Vaccaro at 500 a month and put 30,000 into his bank account and told him to go sign coaches to Nike endorsement contracts.”
1980
Nike went public in the second week of December 1980, the same week as Apple.
“So Nike IPOs, the second week of December in 1980, the same week as Apple.”
1980
After Nike's IPO, Phil Knight owned 46% of the company.
“So when they went public, after the IPO, Phil owned 46% of the company and was overnight one of the richest people in America.”
1984
Nike had a 2.5 million dollar budget for pro basketball shoe endorsements, and Vaccaro advised giving all of it to Michael Jordan.
“Nike executives had 2.5 million dollar budget for pro basketball shoe endorsements and we're thinking about spreading it among many young players.”
1984
Jordan's mother Delores insisted he fly to Oregon to meet Nike despite his reluctance.
“Delores Jordan insisted that her son be at the airport in the morning.”
1984
Nike's deal with Michael Jordan guaranteed at least $2.5 million over five years, plus a royalty.
“So the deal is a $2.5 million minimum guaranteed payout over five years.”
1985
The NBA fined Michael Jordan 5,000 dollars each time he wore the red and black Air Jordan shoe, and Nike chose to pay the fines.
“The NBA said Jordan would have to pay 5,000 each time he wore the new shoe.”
1985
According to the Lazenby biography, Nike recorded 150 million dollars in Air Jordan sales over the first three years.
“Nike would ring up an astounding $150 million in Air Jordan sales over the first three years”
1985
Nike reported $126 million in sales of Air Jordan 1 shoes and associated merchandise in the first year.
“In the first year, Air Jordan ones sell $126 million. That's the shoes and the associated merchandise with it.”
1986
The Air Jordan 2 cost $100 and was made in Italy from premium leather, compared with $65 for the Air Jordan 1.
“The Air Jordan twos cost $100. The Air Jordan ones cost $65. The Air Jordan twos were made in Italy out of premium Italian leather.”
1988
Nike renegotiated Michael Jordan's contract to run seven more years at the same 5% royalty on gross sales, according to the host.
“they extend the deal for seven more years, I believe at the same 5% royalty on gross sales”
1989
A Nike shoe print at the scene was a size ten and a half, and trackers estimated its wearer was between 5'10 and 6'2.
“That one is a size ten and a half, and based on the stride and marks in the sand, trackers determined that the person who was wearing the Nike shoe was between 5'10 and 6'2.”
2002
Kobe Bryant is rumored to have paid $8 million to leave his Adidas contract and sign with Nike around 2002.
“it's rumored that he paid $8 million to get out of his contract so he could move over to Nike.”
2003
Nike acquired Converse for $309 million in 2003.
“In 2003, they acquire Converse for $309 million.”
2005
Tim Cook joined Nike's board of directors around late 2005, before the 2006 Nike Plus iPod launch.
“not a lot of people know this guy named Tim Cook's name, but Tim joins Nike's board.”
2005
Nike won the Indian national team's kit sponsorship in a sealed-bid auction at $52 million a year.
“So Nike comes in and wins at $52 million a year.”
2018
In 2018 Nike ran a Wieden+Kennedy ad with Colin Kaepernick about standing for something.
“So in 2018, something pretty special happened. They pulled the trigger on a Wieden and Kennedy ad with Colin Kaepernick about standing for something.”
2019
Michael Jordan has earned over $1.5 billion from his Nike deal, and the Jordan Brand generated over $3 billion in revenue in the prior year, according to the host.
“Jordan, as of today has made over $1.5 billion personally from the deal and the Jordan brand within Nike”
2022
The Jordan brand reported $6.6 billion in revenue in Nike's fiscal 2022.
“So, this past year, they just reported FY22, the Jordan brand did $6.6 billion in revenue.”
2023
According to the host, Nike's sales to women alone exceed Lululemon's total revenue.
“Nike's sales to women alone are bigger than all of Lululemon's revenue.”
2023
Nike's trailing four-quarter gross margin was about 44%, compared with about 46% for Adidas, according to the host.
“Nike's current rolling last four-quarter gross profit margin is 44%. Adidas is 46%.”
2023
According to the host, Nike's NFL uniform deal is worth something like $200 million a year.
“the NFL deal alone is something like a $200 million a year deal.”
Undated
Jim Weber said Nike signed a 27-year marketing agreement with USA Track and Field.
“the largest brand in our space, Nike, signs a 27-year marketing agreement with the governing body of our sport, USA Track and Field.”
Undated
David Lidsky wrote a Fast Company piece about the production of Acquired's Nike episode, published the year before.
“David Lidsky's wonderful piece in Fast Company last year, following the production of the Nike episode really dives into the making of an episode”
Undated
Nike began when a Japanese company sent twelve pairs of running shoes to Phil Knight, then in his twenties and living at home.
“it starts out with one Japanese company sending a kid in his twenties, still living at home, twelve pairs of running shoes.”
Undated
Bill Bowerman argued that removing one ounce from a shoe equals 55 pounds of burden over a mile.
“One ounce sliced off a pair of shoes, he said, is equivalent to fifty five pounds over one mile.”
Undated
An employee's family loan of $8,000 to Nike, converted to stock, was worth $1.6 million at the IPO according to the host.
“when Nike IPOs, Phil Knight converted that loan to stock, and that 8,000 was worth 1.6 million.”
Undated
Jeff Johnson proposed the name Nike, after the Greek goddess of victory, after it came to him in a dream.
“Apparently, a new name came to him in a dream last night. What is the name? I asked. Nike, the Greek goddess of victory.”
Undated
Japanese trading companies such as Nissho financed trade and extended credit that kept Nike alive.
“And these Japanese trading companies, one thing they had a bunch of different business lines, but one thing they would do is they would finance trade.”
Undated
Nike offered retailers discounts of up to 7% in exchange for large non-refundable orders placed six months in advance.
“if they'd give us large and non-refundable orders six months in advance, we'd give them hefty discounts up to 7%.”
Undated
Nike's shoebox supplier, whose business depended on Nike, fronted money when Nike had to bounce paychecks.
“the man's box company depended on us for its survival if we went out of business the box company would too So the box man became our bag man.”
Undated
Runner Steve Prefontaine, an early Nike ambassador, was famous for saying opponents would have to bleed to beat him.
“Pre was most famous for saying, somebody may beat me, but they're going to have to bleed to do it.”
Undated
After Nike's public offering, Phil Knight was worth $178 million.
“Nothing had changed, least of all me, and yet I was worth $178 million.”
Undated
Jason Bateman says Air tells how and why Nike made its deal with Michael Jordan when Jordan entered the NBA.
“The whole story about how and why Nike got into business with Michael Jordan, when Michael Jordan entered the NBA.”
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