Two White guys about to be thrown out of Hudson University were getting high in Soho, they were doing their best to come up with an idea to save their academic careers with little to no luck.
Soon they drifted off to sleep and when they awoke they began throwing designs into the trash as they had been doing the past two semesters. In walks their buddy from Connecticut and he tells them, "Don't throw that away, I bet I can sell them to the Spics, niggers & trailer trash".
In 2005' the idea was bartered to Levi Strauss and the rest is history.