Nike is well-known for lots of reasons -- high-profile athletes as spokespersons, the swoosh, and possibly the catchiest catch phrase ever. But now, Nike Inc. is hoping to become known for something else -- eco-friendliness.

The company's initiative, Nike Considered Design, focuses on having all aspects of the business meet specific goals, starting with footwear, then apparel, and finally, by 2020, equipment. The Nike crew intends to cut waste and raise the use of environmentally-friendly materials, eventually recycling all used products. And, it will streamline the supply chain, which will reduce the amount of oil and other materials used.

As you probably guessed, the Nike Considered Design initiative won't just help Nike go green, but will also make a little green in the process. Using fewer materials will lower their costs -- something they've already learned since reducing their shoe production waste by 50 percent.

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