Even for NIKE, 3.8 Billion is a lot of money.
Right now, the advertising group is frantically telling there boss; “Don’t worry, it will blow over in a few days. All those angry Deplorables? They’ll be back!”
And that’s just a start.
Losers stick together
Corporate virtue signaling can be a dangerous thing. Great to see this, may it continue.
kaepernick is a second rate quarterback with first rate physical abilities. It’s his brain that’s the problem....
After a year or two of beating most of the league with his feet and the run option he fell flat when opposing defensive coordinators figured him out.
the 49’ersspent mega dollars trying to teach him to stand in the pocket. He just can’t do it. His head doesn’t allow him work through the progressions. As a pocket passer Kaepernick spends most of his time sacked and flat on his back. In short he is a one trick pony that everyone knows the solution to.
When there are plenty of other brand choices for the type of products you make, it’s pure stupidity to alienate even 1/10th of your potential buyers; except in this case, you are alienating and insulting a lot more than “just” 50% of your potential customers.
Me? Don’t need Nike, and in actuality, for the price of a pair of Nike shoes, I could buy 3 or 4 or the cheaper brands. Bye, Nike. Pleasant not doing business with you anymore. And, btw, neither are my family members and a bunch of my friends. You don’t need us, apparently, but we need you less.
Updated Nike slogan
Just D’oh it !!
JUST SCREW IT!
Things that can permanently burn a brand name for very large market segments ought generally to be avoided in publicly-held companies.
Wonder if whoever OK’d this marketing campaign was secretly all-in massively leveraged into a short position beforehand. Would make more sense as a scam than played straight, for sure.
His name is spelled Crapperdick.
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 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.
just wait until their nets sales are reported for the next quarter if you want to see the stock REALLY tank ...