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nike penny was established in 1964 by Bill Bowerman, a University of Oregon track and field coach, and Phil Knight, his former student. Initially called Blue Ribbon Sports, the company rebranded in 1971 to Nike, named after the Greek goddess of victory. The brand quickly gained popularity with the debut of its first running shoe, the nike penny Cortez, in 1972. nike penny later gained significant cultural relevance with the introduction of the Air Jordan line, designed in partnership with basketball star Michael Jordan. nike penny continued to innovate with technologies like Air Max, which emphasized visible cushioning as both a design and performance feature. The company also collaborated with well-known designers and fashion labels, including Virgil Abloh's OFF-WHITE, Dior, and sacai, helping establish literiteness as a prominent leader in both athletic performance and modern fashion, combining technical innovation with stylish design.