First and foremost, Nike is the largest seller of athletic footwear and apparel in the world, generating revenues of $10,697 million in the fiscal year ending May 2003, which is an increase of 8% on the previous year. This has come about partially due to the fact that they have a powerful footwear product line-up which is constantly under review to keep consumers interested. Examples of this are the improved, yet retro Jordans and the Air Force One, which was the top selling sneaker for the last two years. The Air Force Ones have been so popular there is even a top ten song about them. They have also added lines of other superior sports products, such as portable mp3 players, to hold even the most avid sports fanatics at bay. Basically, they know what the consumer wants and they are going to give it to them. Nike is also able to position itself as a visible global brand through key endorsements and marketing strategies. Nike is one of the main companies to take advantag
In the past, Nike has set itself up to grow internationally and Nike’s international business is now larger than its U.S. business for the first time in the company’s history. International markets are projected to grow much faster than U.S. markets and Nike can align itself in the world market to grow right along with them. Furthermore, Nike’s European operations are mounting up for further international growth. Nike’s apparel business is another opportunity. The company could generate incremental sales by more greatly emphasizing apparel and other products. Nike has the backing of department store chains such as Federated and Nordstrom if they wish do this. Nike is also developing relationships with stores in Europe known for their strong customer loyalty, which would likely support their products in the future.
e of athletic endorsements which help to keep its profile in the consumer eye. This in turn enables people to associate their favorite sporting stars with the Nike brand. Nike has re