When sporting goods giant Nike, Inc. opened its Niketown superstore in New York last November, the company anticipated that about 100 journalists would attend the opening day ceremonies.
But to organizers' surprise, over 150 members of the media showed up and -- even more startling -- the 50 extra journalists were almost exclusively Japanese. This is the story that Phil Knight, chief executive officer of Nike, Inc., relates when explaining the impact the Japanese market has had on the athletic goods company, and why Tokyo is the most natural home for the next Niketown.
"Japan is our most important market outside of the United States," Knight said in an interview June 10 with Toshiaki Ogasawara, chairman and publisher of The Japan Times. "Because we expect that by the end of this decade over 50 percent of our business will be in foreign markets, Japan is key to Nike's future growth," Knight said.