Bill Bowerman and Phil Knight founded the company in January 1964 under the name "Blue Ribbon Sports" before changing it to Nike, Inc. in May 1971. Nike expanded its product line throughout the 1980s, and in 1990 moved into its World Headquarters campus in Beaverton, Oregon, and opened its first store in Portland, Oregon, in November of that year. Phil Knight announced in mid-2015 that he would step down as chairman of Nike in 2016. He officially stepped down from all duties with the company on June 30, 2016. In 2020 the brand alone was valued at more than $32 billion, making it the most valuable brand among sports businesses. As of 2020, Nike employs 76,700 people worldwide with more than $37.4 billion in revenue for the fiscal year 2020.

For product purchases on their website, Nike offers free no rush and standard shipping on guest orders over $150. Nike does not ship internationally, no rush shipping is only available for the lower 48 U.S. states, and standard shipping is free for signed-in Nike members. You can find promo codes all over their product pages and hundreds of discounted products on their sales page.

In September 2021, Nike reported its first-quarter fiscal year 2022 reported revenues were $12.2 billion, up 16 percent compared to the prior year. In April 2021, Nike sued MSCHF Product Studio Inc, claiming that shoes it produced in collaboration with the rapper Lil Nas X which bears the Nike"swoosh" logo, infringed its trademarks. A federal judge sided with Nike Inc., ordering the Brooklyn company to stop further sales of "Satan Shoes temporarily."

Nike is committed to making a better world through the world's shared love of sports. They invest in their local communities and do community-building work focused on diversity, equity & inclusion. Nike partners with national and local organizations through their Community Impact Fund that focuses on education, mentorship, leadership development, getting kids active, coaching, and other community-based initiatives.