In the early 70's, Nike (NKE) , then known as "Dimension 6," enlisted a college student to design its logo. Inspired by the wings of the goddess Nike, the iconic swoosh was born — but the design almost didn't take off. TheStreet dives into the history of the classic logo and the $30 billion dollar company behind it.
Related: Fast-growing Hoka shoe brand takes aim at Nike
Full Video Transcript Below:
Can you imagine Nike without the swoosh?
Nike’s logo has been a cultural icon for more than 50 years, but that simple swoosh almost died on the drawing board.
In 1971, founder Phil Knight and first full-time employee Jeff Johnson were considering renaming their growing shoe empire “Dimension 6."
Fortunately, Johnson got some inspiration from Greek mythology after seeing the name of the goddess of victory in a dream.
And so Nike was born.
The natural next step? A logo.
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Famously short on cash, Nike reached out to Portland State University student Carolyn Davidson, who provided sketches, working for 2 dollars an hour.
Davidson’s design was inspired by the wings of the goddess Nike, representing speed and strength.
A full $35 later and the swoosh had arrived.
Not everyone liked it at first —CEO Phil Knight, included.
After reluctantly choosing the black curvy checkmark from a series of sketches, Knight told the Oregonian he recalled thinking…
Quote — "Well I don't love it, but maybe it will grow on me."
And it’s safe to say it did.
While the style has evolved over the decades, the swoosh is one of the most recognizable brand logos in the world.
Over a decade later, Davidson was eventually awarded 500 shares of Nike.
She has never sold those shares, and in 2023 they were estimated to be worth around $3 million.
Nike’s total brand value is recognized at around $30 billion.
So when you’re thinking of Nike icons: Lebron James, Tiger Woods and Michael Jordan to name a few, don’t forget Carolyn Davidson.
