Earlier this September, Nike revealed former San Francisco 49ers player Colin Kaepernick as the face of their newest campaign. Many may be pleasantly surprised to find out that not only is Nike experiencing a spike in the number of sold-out products since the announcement, but they are also experiencing an increase in stock shares. According to Thomson Recruiters, the multi-million dollar company has experienced a 61 percent increase in sold-out products from September 3rd to September 13th. This includes the weekend in which the announcement was revealed to the public.
From the time in which the brand’s endorsement deal was announced, stocks have also managed to increase five percent. Nike has stood firm in their decision with this partnership, and it seems to be paying off. Their decision to take a risk on Kaepernick showcases that not only are they confident, but that brands are now becoming more public with their stance on certain social issues and injustices occurring in society today. In a recent red carpet interview with CNN, actress Jenifer Lewis said, “I am wearing Nike tonight to tell them how proud I am of them for supporting Colin Kaepernick and his protest against police brutality and racial injustice.”
Many were up in arms about Nike’s choice in choosing to sponsor Kaepernick despite his long battling stance with the NFL over the protest of the mistreatment of black people, especially from law enforcement. Nike protestors have even gone to such length such as burning their Nike gear to even cutting the famous swoosh off of their articles of clothing.
Nike appears unbothered and their increasing sold-out products and shares appear to be doing the same!
Raylyn Robinson
@raylyn_xo