Nike was founded in 1964 by track coach and runner duo Bill Bowerman and Phillip Knight as Blue Ribbons Sports. Nike has come a long way from when its founders used to sell the shoes out of the trunk of their cars until the first Nike store was built. The company was renamed Nike in 1972. The name Nike was chosen in reference to the Greek Goddess of victory. Nike is now one of the biggest and most recognizable brands in the world.