Adolph "Adi" Dassler created his first shoe factory in 1924 together with his brother Rudolph. The brothers split up in 1947 after relation broke down. They both went on to start their own company. Adidas (Adi + Das) was born in 1949.
The three stripes were added to the logo only in 1952 when Adidas bought the rights from a small Finnish company for the equivalent of 1600 euros and two bottles of whiskey (unfortunately we do not know the name of the whiskey).
Adidas is currently the second-largest sportswear brand in the world.