Nike is doing pretty well for themselves. Yes, even after the Colin Kaepernick ‘Just Do It’ ad.
In the aftermath of their new ad, many outraged sports fans decided to burn or chop up their Nike apparel. Of course, the company already had their money, so that form of “protest” was a bit misguided. But that didn’t stop those folks. In the meantime, the Nike stop is climbing.
The day after they announced the ad, they saw their stock price drop nearly three percent. But 10 days after the announcement? It would close at at $83.47. Needless to say, lifetime Nike man LeBron James is having fun with those still burning their apparel.
— LeBron James (@KingJames) September 14, 2018
According to that same Bloomberg report, online sales have seen a big boost as well.
“…for example, the first full day after Kaepernick’s ad went viral, Nike purchases were 22 percent higher than the same day in 2017. On Wednesday they were 42 percent higher, and Thursday they were 23 percent higher. They remained above 2017 levels through the end of the week.”
Obviously it’s going to take more than 10 days to fully assess what this ad is doing for the company. But on the surface, things are looking way up. Stock prices fluctuate fairly regularly. And it would be irresponsible to assume that this is all just because of a single ad campaign. That said, one thing in particular seems to be very clear…
Nike isn’t regretting their decision.