Nike Paid Shockingly Little for its World-Famous Logo
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Nike co-founder Phil Knight said he's astounded by the athleisure trend. "It absolutely blew me away," Knight, who is also chairman of Nike, told CNBC's "Squawk on the Street" on Tuesday. He explained that today's athletic leggings have a purely functional origin in long underwear. "Forty [years] to 50 years ago, we wore long underwear to run in races because we didn't want to run in sweats and we didn't want to wear shorts because it was too cold," Knight explained.