Stephen: Nike revenue reportedly up despite Kaepernick ad controversy
Despite reports of people burning their gear over Nike’s endorsement of Colin Kaepernick, the brand has reportedly seen an increase in online sales. “There was speculation that the Nike/Kaepernick campaign would lead to a drop in sales, but our data over the last week does not support that theory,” Edison Trends co-founder Hetal Pandya says in a statement. Specifically, Nike’s online sales have surged 31 percent in the days after the first ad featuring Kaepernick aired. USA Today reports that Nike’s stock initially dropped after the ad, but has since steadied, and was up 1 percent on September 7. Apex Marketing Group estimates that the Kaepernick ad will have a $163 million payoff in media exposure. Nike aired a second commercial, which featured other prominent athletes and was narrated by Kaepernick, during Thursday’s season opener between the Philadelphia Eagles and Atlanta Falcons.