Nike and Kaepernick team up – what now?
Well, Nike has done it now… by putting their reputation on the line to back former 49ers quarterback Colin Kaepernick. The seemingly unemployable QB will be part of the company’s 30th anniversary of its ‘Just Do It’ slogan. The use of Kaepernick represents a high-stakes gamble by Nike – and they are betting that enough customers are with his cause or at least indifferent to it.
Other faces include… Serena Williams, Odell Beckham Jr., and Shaquem Griffin. However, Colin Kaepernick hasn’t played professional sports since 2016, the year he began kneeling during the national anthem. In 2017, Kaepernick filed a grievance against the NFL claiming that owners conspired to keep him out of the league because of his protests.
So much unknown… surrounding how this advertisement will be received, not just by customers, but also but political figures. Donald Trump is going to throw a tantrum – that is a given. The rest will unfold over the coming days, weeks, and months…Nike shares were down as much as 3% on Tuesday. But we can chalk that up to the good ole uncertainty that we investors hate.