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NIKE, Inc. Nike enters the cricket market |
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The 2000s
* 2000
o Nike Shox cushioning/support system is introduced, initially worn by Vince Carter and others on the US Olympic basketball team.
* 2002
o Nike purchases Hurley International, another clothing company for an undisclosed amount.
o NikeGO launches, a grassroots initiative to increase physical activity among youths aged 9-15.
o Rap star Nelly releases a chart-topping song about Air Force Ones, a brand of Nike shoes.
o Nike takes a second attempt to break into the skateboard market with Nike SB, sold only in skateboard shops.
* 2003
o Nike acquires once-bankrupt rival Converse for $305 million on July 9.
o For the first time in the company's history, international sales exceed USA sales, as Nike continues to develop into a global company.
o Nike is named "Advertiser of the Year" by the Cannes Advertising Festival, the first company to earn that honor twice (also 1994) in the festival's 50-year history.
o Nike signs NBA phenom LeBron James with an unprecedented $87 million shoe contract.
* 2004
o Phil Knight steps down as CEO and President of Nike, but continues as chairman. Knight is replaced by William D. Perez as CEO of Nike, effective Dec. 28.
o Nike creates the Exeter Brands Group, a wholly owned subsidiary for athletic footwear and apparel brands for lower price points. Brands include Starter, Team Starter, Asphalt, Shaq and Dunkman.
o Annual revenues exceed $ 12.25 billion
o In June, Chinese animator Zhu Zhiqianq, of Xiao Xiao fame, files a lawsuit against Nike for plagiarizing his cartoon stickmen in their commercials. Nike representatives deny the accusations, claiming that the stickman figure lacks originality, and is public domain. Zhu eventually wins the lawsuit, and Nike is ordered to pay $36,000 to the cartoonist. However, in June 2006, the ruling is overturned in Chinese court, and Zhu Zhiqianq is ordered to pay Nike's court costs.
* 2005
o Nike reports annual revenue for fiscal year 2005 (ending May 31) of $13.74 billion, a 12% increase over the previous fiscal year.
o Nike comes under fire from independent music fans and apologizes for their use of an easily identifiable Minor Threat album cover slightly modified into a promotional tool for their line of skateboarding shoes.[2]
* 2006
o Nike enters the cricket market with a 5-year sponsorship of the Indian Cricket team for US$43m.
o William Perez leaves Nike voluntarily on January 23, 2006. Perez said in the statement that he and Knight "weren't entirely aligned on some aspects of how to best lead the company's long-term growth. It became obvious to me that the long-term interests of the company would be best served by my resignation."
o Mark Parker replaces Perez as CEO. Parker, joined Nike in 1979 and is considered the visionary behind the Nike Air franchise and many other innovations, Nike said, and one of the key executives leading the company's long-term strategic planning.
o Nike Inc. filed a patent infringement lawsuit against Adidas-Salomon AG on February 16 2006, claiming its archrival makes shoes using elements of Nike's SHOX cushioning technology.
o Nike have been threatened with legal action for using Hackney council's logo on a range of sportsware without permission. The council have requested financial compensation to spend on sports development for children in the borough. [3]
o Nike reports annual revenue for fiscal year 2006 (ending May 31) of $15 billion.
o Nike is boycotted by Zinedine Zidane fans after an advertising compaign with the Italian player Marco Materazzi, who had insulted the French player. |
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