Nike, Inc. is a leading global designer, manufacturer and distributor of athletic footwear, apparel, accessories and equipment for many sports and fitness activities. The company was founded in January 1964, under the name Blue Ribbon Sports and officially became Nike on May 1978. The company markets its products under the Nike brand, as well as Nike Pro, Nike Golf, Nike +, Nike Skateboarding and Air Jordan. In addition, Nike operates retail stores under the name Niketown. Nike sponsors many athletes and sports teams around the world.
As of 2013, Nike owns two subsidiaries Converse Inc. and Hurley International. Converse specialises in the design, marketing and distribution of sports footwear, apparel and accessories, while Hurley in the design, marketing and distribution of footwear, apparel and accessories for extreme sports and youth lifestyle. According to analysts, Nike has almost a 95% market share of the basketball shoes industry in the US. The brand is estimated to be worth $10.7 billion and it is the most valuable brand name in the sports industry. As of September 2013, Nike is a component of the Dow Jones Industrial Average.
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