“Nike lost about $3.5 billion in market cap in the immediate backlash from its Kaepernick endorsement.
Media pundits declared that the brand would suffer severe long-term damage. But its core audience—younger, more diverse, more progressive—quickly rewarded Nike for demonstrating bravery and supporting racial equality. Within weeks, Nike’s stock had more than rebounded. The risk paid off because brands don’t need to please everyone. They need to be true to their values and core audience.
Nike’s market cap is now twice as high as when the Kaepernick ad came out….”
An excerpt from – Exponential: Transform Your Brand by Empowering Instead of Interrupting by Jeff Rosenblum
By Matthew Jones – Partner | Creative Director — Accept & Proceed (Certified B-Corp)