Nike was founded by University of Oregon track athlete Phil Knight and his coach Bill Bowerman in Beaverton, Oregon. The company's first shoe was based on Bowerman's waffle outsole that was made with a waffle iron. The first collection launched in 1971 featuring the "Swoosh" and the name Nike, derived from the Greek goddess of victory. Today Nike is the world's leading designer, marketer and distributor of authentic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities.