After training as a decorator and church painter, Stankowski enrolled at the Folkwang School of Essen, studying functional design, photography and typography. He moved to Zürich, where he developed his Theory of Design, before returning to Germany, where he was later taken prisoner of war and remained in captivity until 1948. After the war he worked for the Stuttgarter Illustrierte for three years, before founding his own agency. In 1972 Karl Duschek joined his studio and later became his business partner. Stankowski created some of the most iconic examples of German graphic design, including the Berlin city visual identity and the Deutsche Bank mark. He was also Chairman of the Committee for Visual Design for the 1972 Munich Olympics. From the mid-1970s he devoted increasingly more time to painting, and in 1983 he established a foundation supporting artists working at the intersection of art and design.