It's virtually impossible for a fashion company to stay on the top of its game for more than a few years. What's even more unfathomable is a company catering to youth and being a sought-after brand for more than three decades. 

But that's exactly what Nike (NYSE:NKE) has done by signing high-profile athletes and constantly challenging its own product lines. When you can outbid rivals for the biggest names in sports, like Michael Jordan, Tiger Woods, and Rory McIlroy, you have a distinct competitive advantage. 

Erin Miller sat down with Fool contributor Travis Hoium to see how the company built its advantage and how it can stay on top long-term. 

Erin Miller and Fool contributor Travis Hoium have no position in any stocks mentioned. The Motley Fool recommends and owns shares of Nike and Under Armour. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.