NIKE, Inc. is a corporation with its chairman, Phil Knight, having transferred his stock ownership to a partnership limited liability. Nike operates a franchise model in India alongside retailers wanting to sell Nike products. Nike Retail BV is a Dutch limited liability company.
While Nike isn’t an LLC, which allows owners to keep personal assets separate from company liabilities, Nike chose the corporation path to continue dominating sports and fashion.
Phil Knight formed an LLC called Swoosh to hold most of his Nike shares. The major shareholders are:
- Swoosh LLC: 16.5%
- Vanguard Group: 7%
- BlackRock: 5.9%
Nike incorporated as Blue Ribbon Sports in 1964 by Bill Bowerman and Phil Knight. It went public in 1980. Nike owns Jordan Brand and Converse and formerly Bauer Hockey and Cole Haan.
Nike focuses on high-quality goods with cheaper labor, moving factories between Asia and China. This controversy continues despite success.