Nike is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear, apparel, equipment, accessories and services. The company was founded on January 25, 1964, as Blue Ribbon Sports, by Bill Bowerman and Phil Knight and officially became Nike Inc. on 30th May 1971. The company takes its name from the Greek goddess of victory. The Nike brand, with its distinct V shaped logo, quickly became regarded as a status symbol in modern urban fashion and hip-hop fashion due to its association with success in sport.