Nike Renews for Olympic Sponsorship

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How things have changed. It was not that long ago that Nike folks would comment how Nike would NEVER sponsor the Olympics. But, times do change. Nike could not achieve what they wanted after 1996, without considering Olympic sponsorship. In 2005, Nike made a deal with the USOC to become a footwear and apparel sponsor. Now, they have renewed for 2012, and there is an addition to their program..

Well, how things have indeed changed. Starting as a company selling running shoes out of the back of a station wagon, and shipping shoes in embalming fluid boxes, the folks at Nike are now looking at sixteen billion dollars in business in 2009. Nearly three billion of that is running shoes.

Nike is now making shoes for all 32 Olympic sports and for over 100 Olympic teams, meaning 7,000 plus in Beijing will be wearing Nike kit. The other major players are adidas and ASICS.

Nike has taken a few pages from the adidas book. In 2012, Nike will supply the clothing for the awards ceremony, allowing Nike to supply footwear and clothing for the competition and awards. This agreement is for the USOC, which gives them the American sport federations.

The recent Nike Beijing Innovation Summit showcased new product and innovation from
Nike, including a revised Nike ice vest, the Nike Victory track spike, and Nike Lunar racing and training shoe.

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