Acquired · Jul 24Nike
Offered on the spot to finance all inventory in exchange for market interest plus a 4% royalty on sales, after Oregon banks refused. Nike's 1972 revenue of $3.2M was fully financed by Nisho. It is now Sojitz, a $40B company.
Tips
- Knight escaped the Oregon banks by taking financing from Japanese trading company Nisho Iwai▶ 1:04:30Nike's first full year on its own, 1972, hit $3.2 million in revenue, fully financed by Nisho, up from about $500,000 a couple of years earlier.
- Knight alerted Onitsuka to his Nisho financing and triggered a legal fight▶ 1:05:20Onitsuka paid Blue Ribbon $400,000 to settle in 1974.
