Phil Knight's Success in the Sports Equipment Industry

525 Words Feb 17th, 2018 2 Pages
Phil was the 60th richest man in the world according to forbes list. Knight’s fortune estimated to about $12.7 billion. Philip Knight was born on February twenty-fourth nineteen thirty-eight. He has a bachelor's degree in accounting from Stanford University. He wasn’t the best student at Stanford, he spent most of his time in athletics. He first began selling sneakers in partnership with Asics. In 1971, Phil created the name Nike (name of a Greek goddess, which symbolizes victory.) This was just the beginning of Phil Knight's success.
Phil started Nike all because of his interest in athletics. He wanted to improve the design of Tigers (Ribbon Sports, first shoes) and do more than sell shoes of other brands. Phil’s interest in athletics made him very successful. His small business of selling shoes in college turned into Nike one of the most popular sports brands today. In 1993 Phil Knight was voted “the most powerful person in sports”, what amazes me is that he isn’t even an athlete, or team manager, he is just a very popular icon for sports. It’s unbelieveable how an interest as simple as sports made Phil Knight the man he is today.
Knight had some skill on starting a small business. He just kept building on his business and kept on improving his products. He outlined a plan for breaking the reputation Adidas had on the running-shoe. In Order to do this Knight used cheap Japanese labor to make a cheaper, better quality running…