The sporting goods giant Nike invested **** billion U.S. dollars in advertising its products in the United States in 2019. On a global scale, the company reported spending **** billion U.S. dollars on advertising and promotion in 2019, and slightly decreasing those expenses to **** billion U.S. dollars in 2020. Nike’s brand value as its biggest asset As one of the largest and most recognizable sports brands on the planet, it is not surprising that Nike invests heavily into its promotional campaigns each year. In 2018, the sports company celebrated 30 years of its tagline, “Just Do It” and created a special campaign for that purpose. It featured former NFL star Colin Kaepernick and raised the company’s market value by about *********** U.S. dollars. According to annual reports, in 2017, Nike was the most valued apparel brand, with a brand strength score of ** and AAA+ rating, making it the most powerful brand in the sector and ***** most powerful across all sectors. In fact, Nike is far ahead of adidas in terms of brand value, surpassing the competitor by approximately ** billion U.S. dollars in recent years. It also outranked other sporting goods companies such as Puma and Sketchers to claim the top spot for well-known sports brands in 2018. That year close to ** percent of adults admitted to being familiar with the Nike.

The sports sponsorship market was estimated at 97.35 billion U.S. dollars in 2023. The industry was projected to grow at a compound annual growth rate of 8.68 percent until 2030, reaching a value of almost 190 billion U.S. dollars. What are the most valuable sport teams worldwide? In 2023, the most valuable sports team worldwide was the NFL franchise the Dallas Cowboys, valued at approximately two billion U.S. dollars more than the second most valuable team, the New York Yankees. Additionally, Real Madrid was the highest-ranked soccer team, taking 11th spot with a value of over six billion U.S. dollars. Focusing on soccer in Europe, England’s Premier League led in brand value, with the league valued at almost nine billion euros. Spain’s La Liga ranked second, followed by the German Bundesliga in third. What are the leading apparel brands globally? In 2023, the American multinational corporation Nike topped the ranking of the most valuable apparel brands worldwide, with a brand value amounting to almost 75 billion U.S. dollars. Meanwhile, its competitor, the German-based brand Adidas, ranked sixth. Nike, renowned for its iconic "Swoosh" logo, has continuously invested in promotional campaigns. In 2023, Nike’s advertising and promotion costs amounted to over four billion U.S. dollars, representing an increase of more than five percent compared to the previous year.

At a cost of ** U.S. dollars per pair, Nike had the highest median price of popular sneaker brands worldwide in 2017, *** U.S. dollars more than the next ranked brands. At the other end of the list, Vans and Converse have the lowest median price at around ** U.S. dollars. Why are Nike sneakers more expensive? Nike does offer moderately priced sneakers, but consumers are willing to pay high prices for signature models associated with high-profile athletes. Basketball icons LeBron James and Kyrie Irving are two players who have exclusive footwear collections with Nike, and these unique sneakers can command a greater price. Nike is able to agree lucrative endorsement deals with sports stars because it is the leading apparel brand worldwide, generating a global revenue of more than ** billion U.S. dollars in 2019. Nike races ahead in the U.S. An American multinational corporation with its headquarters in Oregon, Nike dominates the sports footwear market in the United States. Founded as Blue Ribbon Sports in 1964, the company changed its name to Nike at the start of the *****. Nike operates around *** retail stores in the United States, and the brand is regarded by many American consumers as their favorite sports shoe manufacturer.