Excerpts from a Plazm press release:
In 2002, Nike commissioned Plazm to design an entire alphabet called Victory, a comprehensive and proprietary typographic family to be used exclusively in its own communications, collateral and advertising.
Victory recollects attributes of Avenir, Geometric 706 and Futura, whose origins in the industrial era pervade their flawless geometry. The addition of certain curvaceous details, such as seen in the lower case l and y, suggest a preoccupation with things organic, and echo this generation’s obsession with the body, a perfect evocation of the Nike ethos. “The Nike brand was built around the concept of performance. To inject the concept of victory is a logical next step,” says Pete McCracken, project lead on the development of Victory, and director of Plazm Fonts.
Particular attention was also paid to the uppercase U, featuring the addition of the terminal, and the uppercase N and K. These letterforms were important not only because of the name of the company, but because they offered an opportunity to customize letterforms that are normally unnoticed.
(P.S.: sorry if this is old news, it was news to me)