Nike’s controversial new advertising campaign has ultimately paid off as its shares hit and all-time high.
The sportswear giant’s shares hit a record high of $83.47 at the close of trading yesterday, after taking a substantial hit following the reveal of its divisive marketing campaign.
Earlier this month Nike unveiled its “Believe in something. Even if it means sacrificing everything campaign”, which featured the former NFL star Colin Kaepernick.
The campaign soon went viral, with many taking to social media to post videos of them burning their Nike goods and call for a boycott of the brand.
Even the American president Donald Trump weighed in on the campaign, tweeting that Nike were getting “absolutely killed with anger and boycotts”.
Despite his intervention, data from Edison speaks to the contrary, reporting that sales during the first day the campaign went live jumping 22 per cent year-on-year, growing to 42 per cent higher the following day.
This data is based purely on online sales, and it is thought that the true impact of the campaign will not be clear until the end of the year at least.
Kaepernick, a former NFL quarterback for the San Francisco 49ers, first made headlines in 2016 when he refused to stand up during the American national anthem.
The stunt, intended as a silent protest against police brutality, sparked the “take a knee” movement which saw hundreds of other players and athletes across different sports to follow suit.