After Kaepernick Ad, Nike Shares Hit a High

Sales went up after the ad was released
By Luke Roney,  Newser Staff
Posted Sep 14, 2018 5:01 PM CDT
After Kaepernick Ad, Nike Shares Hit a High
People walk by a Nike advertisement featuring Colin Kaepernick on display in New York.   (AP Photo/Mark Lennihan)

Despite the backlash (including people destroying gear and calling for a boycott) to its Colin Kaepernick ad campaign, Nike appears to be doing OK. Case in point: Nike shares reached an all-time high of $83.49 on Friday, CBS reports. Far from hurting sales, the ad campaign seems to be helping them. Between the Sunday of Labor Day weekend and the following Tuesday, sales grew 31%, compared with 17% the year before, Market Watch reports. Though, Bloomberg notes, it could be months before the full impact of the ad campaign is known, and the increased sales in early September don't account for how a boycott by some will play out in the long run. Some other metrics: After the campaign was released, Nike gained some 170,000 new Instagram followers, Christopher Svezia, an analyst, tells CBS. Also, polling data found that 29% of young men would buy Nike products because of the ad, which, per Svezia, is connecting "in a way that is authentic, culturally relevant, experiential, and emotionally engaging." (Mayor has rescinded his Nike ban.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.