On January 25, 1964, Nike co-founders Phil Knight and Bill Bowerman created Blue Ribbon Sports. 

Not knowing what to do after graduating, while travelling Phil saw and acted on an opportunity with low priced Japanese running shoes. Phil set up a meeting with a Japanese shoe manufacturer, Onitsuka (Asics) to inquire about importing these shoes to sell in the United States. When asked what company he represents, Phill replied “Blue Ribbon” - remembering his athletic achievements at school. 

After ordering 1000 pairs, it became clear there was a demand for these cheaper but still high-quality alternatives to Adidas and Puma. This would progress onto Bowerman proposing new shoe designs to Onitsuka. One in particular that turned out to be a major success (and source of a dispute) was the Tiger Cortez. At the time of the Cortez success, the Japanese company were seeking a way out of their contract with Blue Ribbon. That being the case, Blue Ribbon were already manufacturing their own Cortez under a new line of shoes called Nike. 

Blue Ribbon and Onitsuka split in 1971 resulting in a lawsuit. Eventually being settled that both companies could sell their own version of the model. 

Blue Ribbon Sports went on to fully rebrand itself as Nike - inspired by the Greek Goddess of Victory. After paying $35 for a logo and continuing to manufacture popular running shoes, Nike was truly underway. 

Nike are due to release an updated version of the ZoomX Vaporfly NEXT% Blue Ribbon Sports. As a tribute, the Vaporfly features a motif of the original Blue Ribbon Sports logo. 

Images: Nike News, Nike Running