The brand played on

I DON’T love it, but I think it will grow on me,” said Phil Knight, the co-founder and chairman of Nike.

He had just been shown a sketch for the company’s new logo. Today, the swoosh would cost a multinational firm at least $500,000. Knight got his hands on one of the best-known symbols on the planet for a meagre $35.

In fairness to Knight, he later made up for his lukewarm initial reaction by giving its designer Carolyn Davidson a swoosh diamond ring and an envelope stuffed with Nike shares. The swoosh must have grown on him, because it’s celebrating its 40th birthday this summer.