Foundation of Nike

nike was founded by Philip Knight, a former track athlete at the University of Oregon, and his college coach, William Bowerman. Both men often discussed making running shoes designed to improve an athlete’s performance. In 1964, after Bowerman was unsuccessful in selling a shoe design to various sporting goods companies, Knight and Bowerman each invested $300 to form and stock their own shoe company, Blue Ribbon Sports. Blue Ribbon Sports originally sold Japanese-made Onitsuka Tiger Company shoes in the United States. In 1968 Knight and Bowerman developed the Nike concept, began making shoes under that name, and for $35 bought a swoosh logo designed by a college student. Their company continued to use the Blue Ribbon Sports name.