*Nike’s Colin Kaepernick “gamble” has turned into a big win, as the company has added almost $6,000,000,000 to their market value since their “Just Do It” ad featuring the outspoken athlete.
According to CBS, the boycott against Nike for making Kaepernick the face of its latest ad campaign doesn’t seem to be having the desired effect. Its stock has soared over the past year, seeing a 5 percent increase since Labor Day.
Meanwhile, Kaepernick is currently suing the NFL for allegedly colluding to keep him out of the league over the protests. But the $6 billion increase in overall value that Nike has experienced since Labor Day clearly indicates that Kap is still a merchandise-selling machine, the report states.
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Sales of jerseys bearing his name have been among the league’s most popular even though he hasn’t played in two years, and Reuters reported last week that Nike’s Kaepernick women’s jersey had sold out, per vox.com.
In related news, we previously reported that despite Nike’s progressive ‘Just Do It’ 30th anniversary campaign starring Colin Kaepernick, a new report from the Center for Responsive Politics shows that company employees and its political action committee have donated more than three times as much money to Republican candidates as Democratic challengers for the 2018 election season.
Nike also donated $20,922 to the Democratic Congressional Campaign Committee but the company overall is spending more money to make sure Republicans retain control of Congress.
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