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How much has Nike's Colin Kaepernick ad campaign affected its bottom dollar? The figure is stunning.
Nike's "Just Do It" advertising campaign has added billions of dollars to the company's market value. (ANGELA WEISS/AFP/Getty Images)

How much has Nike's Colin Kaepernick ad campaign affected its bottom dollar? The figure is stunning.

Nike faced intense backlash in the days immediately following the announcement that NFL quarterback Colin Kaepernick would be the face of its new "Just Do It" advertising campaign.

Now, just weeks after the announcement, Nike is counting dividends directly related to the ad campaign in the billions of dollars.

How much has Nike made?

Since the announcement on Labor Day, Nike stock has surged 5 percent, adding a whopping $6 billion to the company's market value, according to CBS News. That's after Nike's stock initially fell 3 percent after the announcement.

Overall, Nike's stock is up 36 percent on the year, making it the highest performing company on the Dow Jones Industrial index 30 blue-chip stocks.

The stock closed at $85.55 a share on Friday.

Indeed, Nike's campaign was highly calculated. The company knows its main customer base, a majority of which is younger. That fact helped alleviate the risk of associating itself with Kaepernick.

"I don't think they just randomly decided to put this ad out, thinking, 'Let's commit political-correctness suicide. People vote with their wallets, and the one clear winner in athletic apparel remains Nike," Art Hogan, a market strategist, told CBS News.

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Chris Enloe

Chris Enloe

Staff Writer

Chris is a staff writer for Blaze News. He resides in Charlotte, North Carolina. You can reach him at cenloe@blazemedia.com.
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