The company was started by Scott Olson (b. 1960) and Brennan Olson (b. 1964) in Minneapolis as Ole's Innovative Sports; when they sold the company, it became Rollerblade, Inc. and has changed hands over time between Nordica, Benetton Group and Tecnica.
In 1980, Scott and Brennan Olson improved the rollerblades in their own basement. The wheels were better protected, easier to put on, and had better brakes. Before the Olson brothers made the changes to the rollerblades, they were difficult to put on, the wheels were damaged easily, and the brakes were insufficient. Rollerblade is a registered trademark that has been in use since March 1983, though the term "rollerblade" is also used generically for inline skates.