Founded by Bill Bowerman and Phil Knight on January 25 1964, as Blue Ribbon Sports, the company became officially Nike, Inc. on May 30 1971. The company was named after the Greek goddess of victory, Nike (Νίκη).

"Nike's first signature athlete was welterweight wrestler, Wayne Wells. The 5' 8" Texas native had an accomplished career, winning a gold medal in Munich in 1972 while working closely with Nike footwear designers on his signature, high-top wresting boot.

N.I.K.E. does not have an official full form as it is a brand name derived from the Greek goddess of victory, Nike.

In 1958, Phil Knight, a business major at the University of Oregon and a miler on the track team, shared with his coach, Bill Bowerman, a dissatisfaction with the clumsiness of American running shoes. They formed a company in 1964 to market a lighter and more comfortable shoe designed by Bowerman.