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The brand Nike was founded in 1964 as Blue Ribbon Sports and officially became Nike Inc. in 1971. The company was created by Bill Bowerman, an athletics coach, and by Phil Knight, a middle distance runner from Portland who attended the University of Oregon. The sole of the first Nike shoes was made inside a waffle iron: Bowerman had the idea of creating a new non-flat sole so that it could be ideal for athletes running on the slopes, the rest is history. Nike is the market leader in footwear and sportswear.