In 1964, Phil Knight sold Japanese running shoes from his car after teaming with his Oregon coach; Nike reported $19.2 billion in revenue in fiscal 2009

Long before its swoosh logo became a widely recognized symbol, Nike's early sales came from Phil Knight driving a green Plymouth Valiant from one track meet to another with a trunk full of Japanese running shoes. This is how the company that would become Nike really started, and its filings with the U.S. Securities and Exchange Commission show the business grew substantially. According to Nike's SEC filing for fiscal year 2009, the company reported $19.2 billion in revenue, a scale of growth many people who have simply worn Nike running shoes might never have considered.


A meeting that turned into a business


The company that would become Nike was born from a conversation, not a business plan. Phil Knight, a former middle-distance runner at the University of Oregon, had studied at Stanford and concluded that Japanese manufacturers could produce better running shoes at a fraction of the price of Germany's heavily marketed wares. In January 1964, he met his old college track coach, Bill Bowerman, and laid out his plans. According to Nike, Knight and Bowerman met for lunch on January 25, 1964, and shook hands about an hour later; Nike's account does not say Blue Ribbon Sports was formally established that same day. Each reportedly put in a few hundred dollars to get started. Bowerman had spent years tinkering with shoe design in his garage, from dismantling pairs of sneakers to shaving ounces from many components. His involvement brought more than money; it also gave the company credibility in athletic footwear.

Selling shoes from a car was not a stunt; it was the only option

Knight had no store, sales force, or big marketing budget. Instead, he had a trunk full of Japanese running shoes and a list of track meets he drove to, showing up in person to sell the product to a receptive audience of athletic coaches and serious runners. Records at the University of Oregon Libraries, which hold the original Bowerman papers and early Nike files, suggest Knight didn't have a slick, modern marketing plan. These details may be useful for marketers studying how Nike built an early customer base. He was selling to a niche market within the running community, where Bowerman's credibility helped the product sell itself through word of mouth. That lesson has since proven valuable far beyond the athletic apparel sector, where products often struggle to find an entry point in a crowded marketplace or among less brand-loyal customers.

From a car trunk to a public company

Blue Ribbon Sports was renamed Nike in 1971, and the company grew by establishing sponsorships, introducing new designs, and producing its products rather than relying on one overseas manufacturer. This success is reflected in the final figures, which the public could see. Nike's fiscal 2009 filing with the SEC reported $19.2 billion in annual revenue, marking 45 years of growth from its approximately $1,000 combined investment. However, Nike's revenue has fluctuated, rising in some years and falling in others. Nike has not yet filed a 10-K for fiscal year 2026, so no confirmed figure for that year can be reported here. The $19.2 billion figure marks a specific year and may mislead readers into thinking it reflects Nike's current size, but it is not up to date.

Why this still resonates with young professionals

Knight reportedly did not quit his accounting job right away; he is said to have kept working there while teaching business classes for several years, until his sportswear company, Blue Ribbon Sports, became profitable. They might have quit their primary job immediately to pursue their entrepreneurial dreams. Another lesson modern start-up founders could learn from Knight and Bowerman is the importance of the founding partnership. Knight was a better salesman and was willing to travel across the country to promote the sportswear brand at events few wanted to attend. On the other hand, Bowerman brought credibility and relationships within the athletic community, along with his experience designing and refining shoes. Their partnership succeeded in part because of mutual support, expertise, contacts, and willingness to do work others avoided.

Nike's rise from the trunk of a car to a public company worth tens of billions per year wasn't driven by a single event. It came from a specific pattern: a founder who kept showing up in person, a technical partner whose opinion mattered, and a willingness to grow slowly before quickly.