Nike Blog 3: How the billion dollar sportswear company nearly went bankrupt
Last week, we looked at Nike's roadbump. Despite facing early difficulties, Nike rebounded and solidified its business model. Nike formed their mission statement:
“To bring inspiration and innovation to every athlete in the world.”
They discovered the endless potential sport could bring. Namely, that sport is a universal language, transcending the barriers of culture and language. As such, Nike’s business model was built on partnerships - with athletes, retailers and manufacturers all around the world.
The turning point for Nike was their high-performing marketing campaigns that captivated their audiences. Did you know Nike’s advertising rarely, if ever, explicitly mentions their products? Nike connects with consumers through their ‘emotional branding’. Each ad is designed to evoke a different emotion, inspiring its audience. Just do it! - that we can do anything if we put our mind to it!
Originating from the small sleepy town in Oregon, Nike is now a global empire. From having their own humble beginnings, Nike as a brand continues to inspire by creating innovative products and telling compelling stories.
With a product like Upstreet, Nike is able to meaningfully offer a reward to their loyal customers. Upstreet is here to empower everyday individuals to build their share portfolio whilst shopping with their favourite brands. As our partner companies grow, we are excited to also be helping individuals grow. If Nike is one of your favourite brands, why not get invested today and earn fractional shares as you shop through Upstreet!