Will this continue, or was just a quick market response?
Nike Falls as Critics Fume on Social Media Over Kaepernick Deal
The backlash started just hours after Colin Kaepernick, the former San Francisco 49ers quarterback who sparked controversy for kneeling during the national anthem, tweeted that he’s starring in Nike Inc.’s iconic “Just Do It†ad campaign.
Following the announcement, the hashtags #BoycottNike and #JustBurnIt started trending on Twitter and shares started falling. Some angry consumers even posted photos and videos of themselves burning their Nike shoes and other gear to protest the company using the divisive figure in its 30th anniversary ad campaign.
Nike shares slipped as much as 3.9 percent to $79 as of 9:31 a.m. Tuesday in New York — the biggest intraday slide in five months. They had climbed 31 percent this year through Friday’s close.
It started the day at $80.77 and ended at $79.60. Will this continue? The bigger question is whether their earnings will take a big dip as people refuse to purchase their products. Some think that it’s a case of no news is bad news
(Yahoo) Protesters burned their Nike (NKE.N) shoes, investors sold shares and some consumers demanded a boycott after the footwear and apparel maker launched an advertising campaign featuring Colin Kaepernick, the NFL quarterback who sparked a national controversy by kneeling during the national anthem.
But the brand recognition that comes with the campaign may be just what the company wanted, and marketing experts predicted it would ultimately succeed.
The ad revived a raging debate in the United States that started in 2016 when Kaepernick, then with the San Francisco 49ers, began kneeling to protest multiple police shootings of unarmed black men.
“This is right on the money for Nike. They stand for this irreverent, rebellious attitude. In this case, it’s reinforcing the brand,” said Erich Joachimsthaler, CEO of strategy consulting firm Vivaldi.
Say what? They’re one of the biggest sneaker brands, if not the biggest, in the world, while also making shirts, pants, socks, hats, all sorts of different sports wear, golf balls, golf clubs, you name it (all of which I’ve found to be overpriced for the value, an opinion I’ve held for a long time). But, Joachimsthaler could be correct. Some boycotts work, some don’t. The liberal freakout at Chick-fil-a utterly failed. Sean Hannity’s call for a boycott of Keurig backfired (I’d forgotten about this one, and even bought one myself with birthday money. Love it). Others succeed.
Will this one? Time will tell. It might end up being a bad idea using a guy who wore socks depicting cops as pigs, rails against white people, and gives money to a group that supports Assata Shakur, who murdered a NJ state trooper before fleeing to Cuba. Among others.
But, as for the notion that Kaepernick was Very Brave, giving up it all? He may have lost all that NFL money, but, Nike has been paying him a ton. And he doesn’t really seem to be doing anything by talking. Oh, and
https://twitter.com/WilliamTeach/status/1037052529429884928
Nike’s coming out with a new exclusive line of house slippers endorsed by Kaepernick.
“I wear these for every televised NFL game. Honest.”
This “protest” is supposedly about the way that the police are treating the Black Community.
Considering the body count in the Black Democratic areas of Chicago, Saint Louis, Detroit, Baltimore, Washington, Camden, et al., the police are not doing near enough to protect the Black Community.
The 800 pound smelly “sneaker” in the room is that the Black Community has a 6-20 times higher rate of criminal activity than any other demographics at all levels [witness statements, arrests, prosecutions, “quarantine” in prison.] See: “Color of Crime” on the net. The “failure” of the Black Community is hard earned but well deserved.
But, I guess that Nike, like the Democratic-Socialist Party, knows their audience.
Things is lookin’ up. NFL [Nike Felon League] gutter-specials can compete with the “Felony Flyers” [PF-Flyers] now sold by UnBalanced.
Good show.
NIKE stock and sales are up.
The NFL just signed a 5y deal with FOX.