Posted on 09/04/2018 4:05:43 PM PDT by gattaca
It just went from bad to worse for Nike.
The iconic sports equipment brand took a big risk by employing Colin Kaepernick for its new ad campaign. And it’s not just because Kaepernick – who hasn’t seen any professional action in over a year – insulted the American flag with his protest against police brutality. It’s also because the tagline of the campaign (“Believe in something. Even if it means sacrificing everything.”) is a direct insult to those who have served their country, and have given everything for it. (RELATED: After Nike Kaepernick Ad Outrage, Social Media Focuses on Pat Tillman.)
Believe in something, even if it means sacrificing everything. #JustDoIt pic.twitter.com/SRWkMIDdaO — Colin Kaepernick (@Kaepernick7) September 3, 2018
This morning we reported that Nike’s stock price took a hit shortly after the ad campaign launched. (RELATED: Nike Stock Goes Turbulent as Fans Boycott Brand After Kaepernick Promotion Announcement.) But now we’re learning that the repercussions of using Kaepernick to sell sweatshop-made sneakers are even worse.
The Wrap reports that Nike just lost billions in its market cap evaluation:
Nike just lost about $3.75 billion in market cap after announcing Colin Kaepernick as the new face of its “Just Do It” ad campaign. It’s the 30th anniversary of the iconic TV and print spots. At the time of this writing, the sneaker company’s intra-day market capitalization was $127.82 billion. On Friday, that number had been $131.57 billion.
.@Nike Loses $3.75 Billion in Market Cap After Colin Kaepernick (@Kaepernick7) Named Face of ‘Just Do It’ Ads$NKE #JustDoIt https://t.co/E6EAt5LzSU pic.twitter.com/yu54s3qsLw — TheWrap (@TheWrap) September 4, 2018
Now, there’s a chance this drop is temporary. Nike could weather this storm after the controversy.
But, then again, the NFL never did recover in ticket sales since the “take the knee” protest wore on throughout last year’s season. (RELATED: NFL Sunday Night Football Ratings Down After National Anthem Protests.) People remember their loyalties. And many in this country remain loyal to America and her flag, despite their own personal opinions toward football.
His name is spelled Crapperdick.
Kaepernick got paid $30 million to play 5 seasons of football. Still and all, crappy QBs get $10 million/year. Kaepernick made a boatload and lost a boatload. He probably left another $40 million on the table. Not chicken feed.
He turned down several contracts. Most notably, the Broncos.
Oh well.
Who is next?
If I were a shareholder I would be lining up people for a class action lawsuit.
Bring this MF’er down.
2. CK is involved in an active lawsuit where the NFL is a party
3. Nike has a contract with CK
4. Clear conflict of interest and case for NFL to sue Nike
5. No matter what Nike does now they have ticked off everyone and will suffer the price.
i actually like some of the nike products but they have now striken themselves off my shopping list (and I can influence some fairly large purchases as it happens, too)
F Nike management that insults us consumers in this super-sized anti-American GROSS sicko manner
F Nike!
A Castro, Che, Black Panther, Commie POS....lover.
Talk to Tillman about sacrifice....this scum bucket could not hold a candle to Tillman.......
Why did he turn down the Broncos? He thought he was worth more than they offered? He wasn’t going to get a starting position?
Any number of scenarios indicate a deficit of skills. Because if he had the skills, teams would be knocking on his door in spite of his political idiocy.
Nike employees need to be deported!
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Most people who make shoes for Nike work in Asian sweat shops making about 11 cents an hour as I recall.
Did he really say that?
I wear a 4EEEE width in New Balance. Their brand was my running shoes for decades and now my walking shoes, all because they make the right width for my foot.
As to Nike's naming KrapInMyPants as their go to, look up to guy for their ad campaign, they just committed the biggest unforced error in marketing that I can recall.
This guy was a flash in the pan and hasn't been a player for years. He is a divisive figure in American sports culture. He is what most people I know, would call a whiney loser. Not exactly what Nike wants their customers to believe in I suspect.
Why do companies do this crap? It's like they don't have a clue what 's going on out in the country where their customers are located. Such an obvious mistake should definitely get someone fired at Nike for approving this dud.
Is Nike trying to be too "leading edge" by half? They blew this one. They will rue the day they pulled this "New Coke" blunder.
I wonder what negotiation tactics were used on Nike to get this done? Were there prominent members of the black community blackmailing nike or threatening a black boycott for the nike brand? From a business perspective it makes no sense to throw their lot in with Kaepernick. It’s the risk vs reward conundrum in gambling. Why risk a market share for nothing?
https://www.nationalreview.com/the-morning-jolt/colin-kaepernicks-controversial-nike-campaign/
And now, for the cost of a few million — remember Nike had nearly $10 billion in revenue last quarter — the company bought the loyalty of the woke Social Justice Warrior crowd. Sure, some folks on the right will announce they’re boycotting, but nobody collects and analyzes marketing research data like Nike. They’ve no doubt run the numbers on this and concluded that the controversy was worth it. In fact, the controversy is the whole point of the marketing campaign. (It sure as heck isn’t Kaepernick’s performance on the field!) The aim is to get every Kaepernick-hater in the country publicly raging about it — the president, conservative-talk radio, sports-talk radio — so that everyone who agrees with Kaepernick feels almost obligated to go out and buy the Kaepernick sneakers, shirt, hat, etcetera.
I remember when Intel underestimated the impact of the Pentium Flaw to its customer base.
Andy Grove said to the employees “It was the worst decision I ever made”
Two weeks later, the entire company was re-engaged to make our customers happy.
Rule #1: The Customer is ALWAYS right.
Rule #2: Read Rule #1
Nike believes in something — that being anti-cop Colin the crappy QB (ex-QB that is).
.. even if it means sacrificing everything — AND THEY ARE INDEED.
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