Nike‘s Swoosh logo is arguably one of the most recognizable brand logos in the world. The simple checkmark-like design easily distinguishes the brand’s athletic apparel from competitors, adding to the relative appeal of the brand that brought in $37.4 billion in revenue in fiscal year 2020.
But how much is the iconic Nike logo actually worth? Turns out, it’s a bit hard to tell.
The History of the Nike Logo
Before getting into the nitty-gritty specifics of a logo valuation, it’s useful to learn a little about the Nike logo’s history to help set the scene. The Nike Swoosh logo was first introduced in 1971, some 50 years ago. At the time, Blue Ribbon Sports — the original name for the company that would later be known as Nike, was looking to create and sell a new shoe. Nike co-founder Phil Knight, who had taught at Portland State University until 1969, approached a graphic design student, Carolyn Davidson, who he had met during his time at the University, to create a logo for the new sneaker, which would be a cleat. This is when the Swoosh logo was born.
“Well, I don’t love it,” Davidson recalls Knight saying about the logo, “but maybe it will grow on me.”
This logo was sent to be used on the new cleat that was being produced in Mexico. But the shoe still needed a name — so Jeff Johnson, Nike’s first full-time employee, came up with the word Nike. In Greek mythology, Nike is known as the Goddess of Victory, which could have been part of Johnson’s process in selecting a name.
The name stuck and thus, the first ever Nike shoe featuring a swoosh was set to enter the market. In 1972, Blue Ribbon Sports debuted its first-ever line of Nike shoes.
Eventually in 1978, Blue Ribbon Sports applied to incorporate Nike, Inc. but remained the parent company until its IPO in 1980, when the company officially became known as Nike.
How Much Did the Nike Logo Cost & Who Created It?
Davidson was paid $35 for the logo (about $240 today if you adjust for inflation), which would go on to be one of the most iconic fashion logos of all time. Don’t worry, Nike later gifted her a gold and diamond Swoosh ring and 500 shares of Nike stock —plus all of those job referrals for being the famed creator of the Nike Swoosh.
Figuring out how much the Nike logo is worth today, however, is a little more complex than adjusting for inflation. After all, brand recognition is a hard thing to quantify. Footwear expert and equity analyst at Williams Trading Sam Poser can’t fathom a guess to the logo’s standalone worth, though he says you could argue the Swoosh is worth whatever the Nike brand makes over its competitors. (For those curious, Nike’s biggest competitor is Adidas, which brought in revenues of about $22.68 billion in 2020. Given Poser’s logic, that would value Nike’s logo at somewhere around $15 billion.
“Clearly, the Swoosh is more valuable [over any competitors], given the Nike brand,” he tells Footwear News.
How Much Is the Nike Logo Worth?
Some say the logo is worth the net worth of the Nike brand, valuing it as a more than $30 billion image.
But other experts say logos have very little worth on their own. According to this train of thought, the Nike Swoosh would be just a worthless sloped checkmark without years and years of successful marketing of the Nike brand.
“It wasn’t the $35 logo that made Nike valuable,” “Built to Sell” author and entrepreneur John Warrillow wrote in an article for Inc. “It was the years and billions the company invested to make the logo so meaningful to its audience that customers demonstrate a willingness to buy—often at a premium over similar non-branded gear—products with the Nike logo emblazoned on them.”
He added, “The Nike logo—and the entire brand that it embodies—has become valuable because people have demonstrated a willingness to purchase (and repurchase) the products that feature the logo.”
There are no easy answers to the value of the Nike Swoosh logo. But one thing is for sure: Buying the logo was probably the best $35 ever spent.
Why Did Air Jordan Replace the Swoosh with the Jumpman?
When Nike launched its Air Jordan brand with then-rookie basketball player Michael Jordan in 1985 — as depicted in Ben Affleck’s new film “Air” — its sneakers actually didn’t feature their now-iconic Jumpman logo. Instead, they featured the Nike Swoosh on their tongues — so, what prompted the change?
The first six Air Jordan shoes all prominently featured the Nike Swoosh, which was permanently replaced with the Jumpman symbol starting with the Air Jordan 7 in 1992. At the time, Jordan had now established himself as a top player in the field, proving to Nike that his own brand was powerful enough to thrive with its own logo. The Jumpman symbol was designed by Tinker Hatfield, who also confirmed this understanding with Bleacher Report.
“I recognized early on that MJ, especially with his Jumpman, I felt could survive and even flourish without a Swoosh,” designer Tinker Hatfield said. “It was part of the strategy of mine to sort of create a Brand Jordan before there ever was one.”
Today, the Jumpman shape — showing Jordan’s silhouette leaping into the air, his arm extended to make a slam dunk — is one of the most recognizable symbols in the sneaker world. The logo has now been placed on all 35 versions of the Air Jordan, including its limited-edition styles, collaborations and revolving drops of new colorways.
