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Nike
Acquired
The Birth of the Jogging Movement
In 1970, Blue Ribbon is now doing over half a million dollars in annual sales. They're selling out of the Cortez's literally as fast as they can get them off the boats from Japan. On Itzuka renews Blue Ribbon's distribution agreement in 1970 for three more years to run through 1973. And this happens, Phil then goes to the bankers in Oregon and asks for, Hey, you know, great. The Cortez is selling out great fitness is this new thing. We've got a three year ironclad deal with our manufacturer.
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