You’ll find Nike shoes worn by all different types of people all over the world. From a little kid on his first day of school all the way to professional athletes. Most people are so familiar with the brand that they don’t take the time to consider the fact that the company actually came from humble beginnings. Nike shoes are sold everywhere and their swoosh logo seems almost as well known as the peace symbol.
The original swoosh logo was originally designed in 1971 by a student studying graphic design at Portland State University. Carolyn Davidson was paid $35 for the famous design but some sources say that the co-founder of Nike, Phil Knight, later bought her a diamond ring engraved with the Nike logo and also an undisclosed amount of Nike stock after she left the company in 1983. It’s interesting to note that Knight originally wasn’t too impressed with Davidson’s work. He said, “I don’t love it, but it will grow on me.”
In 2008 Nike made a net income of $1.9 billion dollars. Not bad for a business that started with a couple of guys selling sneakers out of the back of their van. This is the perfect example of capitalism in action and what can happen if you set goals and work hard. As of late, the company has received bad press due to claims associated with poor working environments and human rights issues with workers overseas.
The name Nike comes from the Greek goddess of victory, and like many other successful companies, had a humble beginning. Philip Knight was a track athlete at the University of Oregon and joined up with his coach, Bill Bowerman, in 1964 to sell shoes out of their cars at track meets. At that time they called themselves Blue Ribbon Sports.
Originally, the duo sold shoes developed by a Japanese manufacturer but ended their relationship with the company in 1971. In 1971 they developed their own line of footwear made especially for football and decided to call it Nike. Soon they introduced more lines of shoes. In 1978, they dropped the Blue Ribbon Sports name and by 1980, 50% of shoes sold in the United States carried the Nike brand.
Nike continues to call Oregon home and also owns rights to numerous other sports apparel brands including Converse and Umbro. At one time Nike also owned rights to Bauer Hockey and Starter.
Even though Nike has received a lot of bad press recently you can’t argue with the fact that the co-founders certainly put a lot of hard work into making the company the huge success that it is today. They certainly are entitled to every bit of the $1.9 billion dollars they earned last year. Nike continues to be a favorite among professional athletes, sport fans, and everybody else in between.
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