Phil Knight
Founder of Nike
Quick Facts
- Born
- 1938, Portland, Oregon
- Company
- Nike
- Nike founded
- 1964
- Industry
- Sportswear
- Known for
- Co-founding Nike
- Started as
- Blue Ribbon Sports (1964)
- Renamed Nike
- 1971, after the Greek goddess of victory
- Famous slogan
- "Just Do It" (1988)
Early Life
Phil Knight was born in 1938 in Portland, Oregon. He ran middle-distance track at the University of Oregon, where his coach was a demanding man named Bill Bowerman. Running mattered to Phil, and so did business. He went on to earn an MBA at Stanford, and there he wrote a school paper arguing that good, cheap running shoes made in Japan could compete with the German brands that ruled the market.
He believed the argument in that paper. A few years later he decided to test it for real.
Selling Shoes From a Car
In 1964 Phil borrowed $500 from his father, flew to Japan, and got the rights to sell a Japanese running shoe called Tiger in the United States. He teamed up with his old coach Bowerman. Each man put in $500, and they called their company Blue Ribbon Sports. For a while Phil sold shoes out of the trunk of his green car at track meets, keeping his day job as an accountant to pay the bills.
Bowerman kept tinkering with the shoes themselves. One morning he poured rubber into the family waffle iron to make a sole with better grip. That ruined waffle iron led to one of the company's first famous designs.
Becoming Nike
By 1971 the partners wanted their own brand instead of selling someone else's shoes. They needed a name and a logo. A design student named Carolyn Davidson made the swoosh, and they paid her $35 for it. Phil wasn't even sure he loved it at first. The name came from Nike, the Greek goddess of victory.
Years later Phil gave Carolyn Davidson stock in the company worth far more than $35, a quiet thank-you for a logo now seen on shoes all over the world.
Growing the Brand
Nike grew fast through the 1970s as more Americans took up jogging. The company went public in 1980. Then came the part Phil understood better than almost anyone, which was selling a feeling along with the product. In 1984 Nike signed a young basketball player named Michael Jordan, and the Air Jordan line that followed changed how sports and shoes fit together. The "Just Do It" slogan arrived in 1988 and stuck.
Today Nike is worth more than $200 billion and employs tens of thousands of people around the world. Phil Knight stayed famously private through all of it, more at home behind the scenes than in front of a camera. His whole story started with a college paper and a $500 loan, which is worth remembering the next time one of your own ideas sounds too small to matter.
Read the book about Phil Knight
Phil Knight: Founder of Nike
Discover the journey of Phil Knight and the creation of the iconic Nike brand.
Frequently Asked Questions
Who founded Nike?
Nike was founded by Phil Knight and his former running coach, Bill Bowerman. They started the company in 1964 as Blue Ribbon Sports and renamed it Nike in 1971.
How did Phil Knight start Nike?
Phil Knight borrowed $500 from his father in 1964 and flew to Japan to get the rights to sell Tiger running shoes in the United States. He and coach Bill Bowerman each put in $500 to start Blue Ribbon Sports, and Phil sold the shoes out of his car at track meets.
Why is Nike called Nike?
The name Nike comes from the Greek goddess of victory. An employee suggested it in 1971 when the company was looking for a name for its own line of shoes.
Who designed the Nike swoosh?
A graphic design student named Carolyn Davidson designed the Nike swoosh in 1971. Phil Knight paid her $35 at the time, and years later he gave her company stock worth much more as a thank-you.
How old was Phil Knight when he started Nike?
Phil Knight was twenty-six when he started Blue Ribbon Sports in 1964, the company that later became Nike. He was born in 1938 in Portland, Oregon.
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