Nike was originally named Blue Ribbon Sports before adopting the Nike name in 1971.
Bill Bowerman and Phil Knight founded Blue Ribbon Sports in 1964. The company initially distributed athletic shoes made by Japan’s Onitsuka, later known as ASICS. Bowerman, a track coach, also experimented with shoe designs, while Knight handled the business side.
Blue Ribbon Sports began selling shoes under its own Nike brand in 1971 and officially changed its corporate name to Nike, Inc. in 1978. The name refers to Nike, the ancient Greek goddess of victory. The famous Swoosh was designed by Carolyn Davidson in 1971.
Nike became one of the world’s largest sportswear companies through footwear, apparel, athlete endorsements, and global marketing. Its stock-market value is separate from the value of rival brands such as Adidas, Puma, and Reebok. A common mistake is placing the official company-name change in 1971; Nike branding began then, but the corporate name change occurred in 1978.