Phil Knight— Co-Founder, Nike

Phil Knight— Co-Founder, Nike

Phil Knight is the co-founder of Nike, one of the world’s most successful sportswear companies. Born in 1938 in Portland, Oregon, Knight was a track runner at the University of Oregon and later earned his MBA from Stanford. It was during his time at Stanford that Knight conceived the idea for Nike, initially founding Blue Ribbon Sports in 1964 to import running shoes from Japan. Knight and his former track coach, Bill Bowerman, partnered to create what would eventually become Nike in 1972, named after the Greek goddess of victory.

Phil Knight’s sports marketing strategies played a pivotal role in Nike’s rise to global prominence. From the start, he understood the power of athlete endorsements in building a brand. Instead of relying heavily on traditional advertising, Knight chose to associate Nike with elite athletes, betting that their success would elevate the product. This strategy began in the 1970s with athletes like Steve Prefontaine, a rebellious American runner who was among the first to wear Nike shoes. Prefontaine’s charisma and anti-establishment persona mirrored Nike’s edgy image, appealing to a younger generation.

Nike’s true marketing breakthrough came in the 1980s with Michael Jordan. Signing Jordan, then an NBA rookie, was a bold move. The launch of the Air Jordan line not only transformed Nike but also shaped sneaker culture. The shoes became a cultural phenomenon, earning over $100 million in the first year alone. Knight’s decision to invest in athlete endorsements continued with superstars like Tiger Woods, Serena Williams, and LeBron James, all of whom helped solidify Nike’s dominance.

Nike’s campaigns also stood out for their inspirational messaging. The iconic “Just Do It” slogan, launched in 1988, resonated with both athletes and non-athletes, capturing the brand’s core values of determination and perseverance.

In 2016, after 52 years with the company, Knight retired as chairman. Today, he has an estimated net worth of $46 billion and is considered one of the most influential figures in sports business history.