The lack of cheap sneakers in American stores prompted runner Phil Knight to order them in Asia and sell them in the US. In 1965, he named his company Nike (after the goddess of victory) and started his own production. The famous jagged sole was first made with a waffle iron. Nike soon had 50% of the American market. In 1984, Nike Air Jordan shoes were created for Michael Jordan, then largely unknown. The basketball player paid a $5,000 fine before each game, but this first instance of "live advertising" was very successful.

Today Nike is the number one company in the sports industry.