Nike was officially named in 1978. It surpassed the leading brands such as Adidas, Puma, and Reebok, and was hailed as "the most successful consumer goods company newly established in the world in the past 20 years." Nike's profit increased from $13 million in 1985 to approximately $400 million in 1994. Nike’s global turnover reached nearly $4.8 billion in 1994. In the United States, as high as 70% of teenagers dream of owning a pair of Nike shoes.