Claim: In 2012, Nike's income exceeded 24 billion dollars.

Nike , Inc. -LRB- official , -LSB- ˈnaɪki -RSB- also , non-US -LSB- ` naɪk -RSB- -RRB- is an American multinational corporation that is engaged in the design , development , manufacturing , and worldwide marketing and sales of footwear , apparel , equipment , accessories , and services . The company is headquartered near Beaverton , Oregon , in the Portland metropolitan area . It is one of the world 's largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment , with revenue in excess of US$ 24.1 billion in its fiscal year 2012 -LRB- ending May 31 , 2012 -RRB- . As of 2012 , it employed more than 44,000 people worldwide . In 2014 the brand alone was valued at $ 19 billion , making it the most valuable brand among sports businesses .   The company was founded on January 25 , 1964 , as Blue Ribbon Sports , by Bill Bowerman and Phil Knight , and officially became Nike , Inc. on May 30 , 1971 . The company takes its name from Nike , the Greek goddess of victory . Nike markets its products under its own brand , as well as Nike Golf , Nike Pro , Nike + , Air Jordan , Nike Blazers , Air Force 1 , Nike Dunk , Air Max , Foamposite , Nike Skateboarding , and subsidiaries including Brand Jordan , Hurley International and Converse . Nike also owned Bauer Hockey -LRB- later renamed Nike Bauer -RRB- between 1995 and 2008 , and previously owned Cole Haan and Umbro . In addition to manufacturing sportswear and equipment , the company operates retail stores under the Niketown name . Nike sponsors many high-profile athletes and sports teams around the world , with the highly recognized trademarks of `` Just Do It '' and the Swoosh logo .