Philip Knight founded Blue Ribbon Sports in 1964 along with his coach Bill Bowerman to be the distributor for Onitsuka Tiger running shoes. The company was later renamed Nike and became the largest athletic shoe and apparel company in the world. Knight grew up in Portland, Oregon and ran track at the University of Oregon before getting an MBA from Stanford. He secured the rights to distribute Tiger shoes in the western US after visiting Onitsuka in Japan. Blue Ribbon Sports opened its first store in 1966 and was renamed Nike in 1971. The company pioneered new shoe technologies like the Nike Air cushioning and now designs and markets products for many sports worldwide.