Nike’s decision to add Colin Kaepernick to its long-running “Just Do It” marketing campaign is raising the ire of some customers.
Kaepernick is known for kneeling during the national anthem to bring attention to racial injustice, a move that maintains cost him his career. Dozens of other players and cheerleaders also kneeled during the anthem, spurring criticism from President Trump.
Some Nike customers criticized the endorsement deal with Kaepernick, with several saying on Twitter that they will boycott the company. Others posted photos and videos of Nike products burning.
Country musician John Rich said on Twitter that his soundman was cutting off the Nike logo from his socks in protest, although it was not clear if the swoosh-less socks would continue to be worn.
Shares of the shoe and apparel giant dropped $2.60, or 3.2 percent, to $79.60 on Tuesday.
Nike is certainly provoking debate by hiring Kaepernick, according to GlobalData Retail managing director Neil Saunders, who noted the risks of a company getting involved in a “highly politicized” issue. Marketing campaigns typically aim to generate positive buzz, rather than engaging in ways that may divide consumers.
“This means it could ultimately alienate and lose customers, which is not the purpose of a marketing campaign,” Saunders said in a report. “Although the company’s stand may go down well on its native West Coast, it will be far less welcome in many other locations.”
Despite slipping ahead of markets opening in the U.S., Nike shares are up more than 30 percent this year through the close of trade on Friday
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