They both put up $500 to start the Nike brand which as of January 2022 has a market capitalization of $226.04 Billion, making Nike the world’s 43th most valuable company by market cap. In 1964, Phil Knight and his former University of Oregon track coach, Bill Bowerman started Blue Ribbon Sports as an enterprise for selling Japanese running shoes ( Onitsuka Tiger later renamed Asics). 1įavourite Takeaways from Shoe Dog by Phil Knight.
With humble beginnings, Nike is today the world’s largest supplier of athletic shoes and apparel and with revenue of $44.5 billion in its fiscal year 2021 (ending May 31, 2021). Selling the shoes from the trunk of his car in 1963, Knight grossed eight thousand dollars that first year. Phil is a very wise, intelligent and competitive fellow who is also a gifted storyteller.”įresh out of business school, Phil Knight borrowed fifty dollars from his father and launched a company with one simple mission: import high-quality, low-cost running shoes from Japan. In his 2016 annual letter to shareholders, chairman and CEO of Berkshire Hathaway, Warren Buffet had high praises for the Shoe Dog book : “The best book I read last year was Shoe Dog, by Nike’s Phil Knight. Phil Knight opens up in a way few CEOs do in his candid memoir about creating the Nike shoe empire.”. Bill Gates on Shoe Dog ” An honest tale of what it takes to succeed in business. Co-founder of Microsoft, Bill Gates listed Shoe Dog as one of his favorite books of 2016.
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