Nike began in 1964 as a small shoe company called Blue Ribbon Sports, run by Phil Knight and Bill Bowerman. At first, it was like a Private Limited Company (Ltd), controlled by a small group of owners.

As the business grew, Nike wanted to expand internationally, sponsor athletes, and invest heavily in marketing and research. To raise the large amounts of money needed, Nike became a Public Limited Company (Plc) and sold shares on the stock exchange.

• As a Private Ltd, Nike had closer control, fewer owners, and more privacy in its accounts.

• As a Plc, Nike gained massive amounts of capital, grew into one of the world’s most valuable sports brands, and operates in over 170 countries. However, it must publish its financial accounts, follow strict rules, and shareholders (millions of them) can influence decisions.