Nike’s Kaepernick ad campaign causes initial stock tumble, but creates $43 million in buzz
Nike is betting big on Colin Kaepernick, making him the face of its new #JustDoIt campaign, along with Serena Williams, Odell Beckham Jr., and other star athletes across sports. Predictably, making Kaepernick the lead athlete has angered white people everywhere, leading calls to boycott Nike and people destroying already purchased Nike apparel.
Nike’s stock even took a hit on Tuesday, but the company seems willing to absorb early losses as many analysts familiar with Nike’s portfolio say that the long term prospects outweigh the more immediate costs, mostly because white people don’t know how to boycott anything effectively.
As it stands, Nike has already created around $43 million in media exposure just by announcing Kaepernick as the lead athlete for their campaign. Despite his unofficial ban from the NFL, the quarterback remains one of the most popular athletes in the world.
Nike, who has contracts with both the NFL and NBA to produce jerseys, seems to be countering the NFL’s messaging regarding social protests while at the same time attempting to tap into a market that sees corporate responsibility as a plus.
Of course, no discussion about Colin Kaepernick seems complete without the orange troll who lives under the White House making an appearance. As is his custom, he tweeted out that Nike is “sending a terrible message” by having Kaepernick lead their campaign.
I don’t know, orange curmudgeon, Nike’s message seems to be looking pretty good from here.