Topics: Money, Nike, Social Media, Sport, Twitter, US News, World News, Business, History
The 'crazy' story behind Nike's iconic 'Swoosh' logo is making people relieved there's 'a happy ending'.
There's no doubt about it, the logo of the American multinational corporation - first founded on 25 January, 1964 - is well recognized across the globe.
Given Nike's sporting success and how iconic the logo has come to be, you probably thought the design of said logo was a result of years of sketches from the most experienced designers in the world, however, that's not quite the case.
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On an episode of The David Rubenstein Show - a clip of which is circulating on Twitter - one of Nike's founders, Phil Knight revealed they ended up going to a 'graphic art student at Portland State' in a bid to have a logo designed for the company.
He explained they 'needed the money' and he and fellow founder Bill Bowerman offered the student '$2 an hour to practice' and 'get some designs' together.
The student spent a total of '17-and-a-half hours' on some sketches before she presented what we now all know to be the iconic 'Swoosh' logo.
However, despite the success of the logo ever since, Knight admits he wasn't actually much of a fan of the design at the time, admitting to the student: "Well, I don't love it, but maybe it will grow on me."
And indeed, the trademark has not only grown on him but the rest of the world too, with Nike having become the world's 'leading sports good manufacturer, distributor and marketeer' according to MBA Skool and worth a whopping $131.36 billion as per Forbes.
And when you think of that, it's hard not to be reminded that the student who designed the logo was paid a measly $2 per hour, which after working for 17.5 hours means she was paid a grand total of $35 - and that hardly seems fair does it?
And it's not taken long for people to weigh in.
One Twitter user said: "'Corporations' have been ripping of artists for millennia."
"Imagine, the swoosh that sprinted to fame was sketched for less than a tank of gas—that designer definitely sprinted past the finish line of value!" Another added.
A third commented: "Crazy."
"Another example of the little guy getting f**ked over by the bigger guy," a fourth added.
However, fear not, because the student - Carolyn Davidson - didn't get ripped off as much as you think in the end.
The founder explained how when Nike went public they gave Davidson '500 shares of stock' in 1983 and she also received a call from one of the company's early hires, Bob Woodell, who invited her to lunch.
The 'lunch' turned into a surprise party for the student at Nike's offices in Washington County. On top of her shares of stock, she was also given a framed certificate signed by Woodell and Knight, recognising her role as the designer of the brand's logo alongside a gold ring in the shape of the 'Swoosh' with a diamond on it.
During the interview, Knight said: "She has not sold a single share. And it's worth over $1 million now."
And a Twitter user resolved: "I love a happy ending."
