Nike took a risk with choosing a controversial figure such as Colin Kaepernick to be the face of their new ad campaign. But so far, it’s paying off.
After a slight dip immediately following the ad’s release, Nike is back up and better than ever, closing out at $83.47 a share on Thursday, an all-time high for the sportswear company.
According to Bloomberg, immediately following the release of the campaign, Nike’s sales on Tuesday were 22 percent higher than the same date last year. That trend continued to Thursday, where sales were 23 percent higher.
As Bloomberg points out, it’s too early to know the full impact of the campaign, especially considering promises of a long-term boycott from many who see Kaepernick’s kneeling protest as unpatriotic.
NBA star, LeBron James, another face for Nike, reacted to the news on Twitter, using the hashtag “#JokesOnYou.”
— LeBron James (@KingJames) September 14, 2018
President Donald Trump said that Nike was “getting absolutely killed with anger and boycotts” following the release of the ad campaign.
Just like the NFL, whose ratings have gone WAY DOWN, Nike is getting absolutely killed with anger and boycotts. I wonder if they had any idea that it would be this way? As far as the NFL is concerned, I just find it hard to watch, and always will, until they stand for the FLAG!
— Donald J. Trump (@realDonaldTrump) September 5, 2018
Kaepernick also launched some products of his own, not associated with Nike. The “I stand with Kap” jerseys sold out almost immediately following their release. All proceeds go toward Kaepernick’s Know Your Rights camp.
Thank you 2 each & every 1 of you that supported this journey. The Official Limited Edition #IMWITHKAP jersey released today instantly sold out! ALL PROFITS will go 2 support @yourrightscamp! Sign up 4 our newsletter at https://t.co/aK6dKa5Boa & be the first 2 know what’s next! pic.twitter.com/EDos7ZyvoJ
— Colin Kaepernick (@Kaepernick7) September 11, 2018
Kaepernick’s influence is still alive and well within the NFL. In the first week of games, multiple players kneeled or raised firsts during the national anthem.