Nike's swoosh logo turns 40
The young woman who designed the iconic image received a $35 check for her work. Nike made up for that later.
"I don't love it," chairman Phil Knight said at the time, according to The Oregonian, "but maybe it will grow on me."
And it did. The curvy, uplifting swoosh logo became Nike's signature mark. The image is now so powerful that it's instantly recognized around the world as the symbol of the athletic gear company.
That graphic designer, Carolyn Davidson, received just $35 for her work. Nike made up for it a decade or so later, however, giving her a diamond Swoosh ring and 500 shares of stock. She held on to those shares, and now they're worth a cool $650,000.
Davidson met Knight at Portland State University in the late 1960s, the Oregonian reported. He was an accounting professor and overheard her saying she couldn't afford to take an oil painting class. So he hired her to make charts and graphs for him to use in his side job running a company called Blue Ribbon Sports.
She continued to freelance for Knight's company, creating various graphics and other designs, until Knight asked for a logo for his new line of cleated shoes. It took her a few weeks to develop some finalists for Knight's team. They picked the logo and renamed the company Nike a few weeks later.
And a legend was born. Last year, Nike notched $19 billion in sales. Check out the following video, which shows how Nike is expanding in Brazil and other countries:
Why is it that everytime Nike gets mentioned we have the child labor freaks hitting the comment boards? If companies like Nike can get their products produced at a decent wage in another country, it makes sense to me to produce them abroad. If countries are allowing companies to use forced child labor then take it up with them, or don't buy the product. Fact is...if these products were produced in a US "union" shop, no one except the athletes would be able to afford them, and Nike would have disappeared decades ago!
Not so my friend. The company is New Balance where you can find made in the USA at a decent price. 70% or more of domestic materials and labor are classified "Made in USA". Less than 70% is classified as "Assembled in USA". Don't complain. switch.
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Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
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