Credit: Twitter
Credit: Twitter

International Business

Post Ad Controversy, Nike Shares Hit An All Time High In US

Written By Isheeta Bali | Mumbai | Published:

Hack:

  • Nike stocks closed at $83. 47 on September 13, which is an all-time record for the company
  • The Colin Kaepernick ad posted by sports apparel company Nike has finally paid off rich dividends for the brand

The Colin Kaepernick ad posted by sports apparel company Nike has finally paid off rich dividends for the brand. Nike stocks closed at $83. 47 on September 13, which is an all-time record for the company. The company has also reportedly witnessed a 23-25% spike in digital sales of their products last week.

Almost two weeks ago, the advertisement had sparked a massive controversy in the US. Several Americans were upset because Nike featured Football Quarterback in their 'Just Do It' ad campaign. Their iconic ad campaign turned 30 and Nike chose Colin Kaepernick as the face of it.

The ad featured a black and white photo of the player with the phrase 'Believe in Something. Even if it means sacrificing everything'. Colin has been a controversial figure in US for refusing to stand for the anthem. In 2016, during the San Francisco 49ers season, Colin kneeled on one knee instead of standing for the US national anthem. Later in an interview, he said that he would not stand for the anthem of a country that suppressed blacks and people of colour. He faced backlash and was accused of politicising sports.

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Hence when Colin was featured in the ad, it upset people so much so that they resorted to burning and destroying Nike products. Initially, the company's stock took a major hit. The sales and the stocks of the company dropped.  As Nike also supplies apparel to 32 teams of the American National Football League, many trade analysts were of the opinion that, this controversy could impact their contract with the League and could damage the prospects of the $30 billion dollar company.

In fact, US President Donald Trump also criticised the brand asking 'What was Nike thinking?'. But after the sales drive, Basketball star and Nike brand Ambassador LeBron James called out Donald Trump by pointing out that the company 'is on fire'.

But with things now turning around, looks like the company has been vindicated and has the approval of the nation that was initially divided. Black rights activists are calling this a watershed moment in history as this gives an impetus to their campaign.

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