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Nike, the most recognizable brand in sportswear, has been outfitting athletes all over the world for over 50 years and is by far the world’s largest provider of trainers and sports apparel. The Nike “swoosh” is one of the most easily recognizable symbols in pop culture. Indeed, Nike is one of the few brands that is so well-known that it doesn’t even need to use the name to be recognized, and the swoosh is rumored to be worth $26 billion. It is not the company’s worth; it is just the logo’s value!
Nike was created in 1964 by runner Phil Knight and his coach Bill Bowerman as Blue Ribbon Sports. At first, it was a small venture, with Knight selling Onitsuka Tiger shoes from the back of his car after practices and competitions. The first Nike trainers were designed by Bowerman himself, but the company (which opened its first retail store in 1966 in Santa Monica, California) continued to exclusively deal in Japanese imports until 1971, when graphic designer Carolyn Davidson first sketched out the swoosh and everything changed.
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JD Sports Fashion, headquartered in the United Kingdom, announced on Monday that it had agreed to buy Finish Line Inc., a sportswear retailer in the United States, for $558 million.
Some Wall Street analysts believe that the deal would favor athletic apparel and sneaker companies Nike Inc. (NKE), Adidas AG, and Under Armour Inc. (UAA), while also warning that it may pose a major competitive challenge to Foot Locker Inc. (FL).
(See also Credit Suisse’s recommendation for Nike based on long-term earnings.)
JD Sports, which recently surpassed Sports Direct as the largest sportswear retailer in the United Kingdom by market capitalization, is eyeing the high-value U.S. market, where demand for branded sports shoes and clothing has given the chain an edge over its rivals. The company’s boldest step yet is a move into the world’s largest sportswear market, which could boost its relevance to international brands like Nike and the resurrected German company Adidas.
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The $150 Nike metal gift card can be used to purchase products online at Nike.com, Hurley.com, Converse.com, and Nike- and Converse-owned store stores in the United States and Puerto Rico, as well as over the internet.
Initially, a variety of different styles and card finishes were tested as samples. The authorised card was made of high-grade stainless steel with a silver prism finish and a thickness of 0.6mm/0.024”.
On the front of the card, the classic swoosh logo is printed in white. A unique 19-digit card number as well as a 9-digit bar code can be found on the back (type 128). The card’s unique number and PIN were laser engraved on it. A silkscreen printed layer of ink was then used to cover the six-digit PIN number.
In the run-up to the Thanksgiving holidays in 2016, over 20,000 cards were sent to over 170 U.S. stores around the country. For promotional purposes, each store had a card and cardboard packaging in the form of a Nike shoebox, as well as a stock of the metal gift cards.