- Nike circulated its first ad in the Super Bowl in 27 years on Sunday.
- The brand’s return to the big game comes as its new CEO looks to reverse a rummage sales slump.
- It has shaken up its marketing division and wants to create cultural moments to elevate its brands.
Nike made a in the act return as a Super Bowl advertiser for the first time in 27 years.
JPMorgan analysts stole Nike’s rail at by sharing the news in a research note published Thursday following a meeting with the brand’s CEO and CFO.
Nike did not immediately return to a request for comment from Business Insider.
The ad featured a who’s who of women in sports, including track and field star Sha’Carri Richardson and WNBA punter Caitlin Clark, over narration by Grammy-Award-winning rapper Doechii.
“You can’t be demanding. You can’t be relentless. You can’t put yourself first,” Doechii can be considered saying. “So — put yourself first.”
Nike said in a statement that the company “has a starkly different perspective, offering a entreat to athletes across the globe: Do it anyway — and redefine the expectations of sport along the way.”
The marketing push comes at a high-stakes twinkling of an eye for Nike, which has been struggling to revive lagging sales. And it’s an expensive bet: Some Super Bowl advertisers secure spent more than $8 million to secure 30 seconds of airtime.
Nike’s new CEO, Elliott Hill, complex a turnaround plan in December. Hill rejoined Nike in October after a four-year hiatus. He was formerly the company’s president of marketplace and consumer.
Since enchanting the helm, Hill has called out Nike for certain missteps, such as offering too many discounts and shifting attention away from its relationships with wholesalers.
The establishment is also trying to make iconic sneaker brands like Jordans and Air Force 1s hot again by pulling back on contribute to boost demand.
Nike’s revenue slid 8% year over year to $12.4 billion during the three months dnouement November 30, the company said in December. Nike shares are down roughly 30% over the last 12 months.
Nike has also undermined up its marketing department in recent months to elevate its brand storytelling, as Adweek previously reported. Several company old-timers returned to or were elevated in the marketing organization over the last year, including former vice president Nicole Hubbard Graham who was named retailing chief.
Nike seems to be banking on big cultural moments to get its brand back on track.
The company debuted a new ad timed throughout this month’s Grammy Awards that highlighted the legacy of its 40-year-old Jordan Brand.
JPMorgan analysts met with Hill and Nike fiscal chief Matthew Friend at an event on Thursday morning. In a research note recapping the meet and greet, the analysts maintained Nike execs cited “excitement” around Hubbard’s return and the brand’s representation at “large consumer moments,” encompassing the Jordan campaign and a planned Super Bowl ad.
Hill told investors in December that Nike had to “get back to fling sport at the center of everything that we do.” He said the company would invest in “big, bold brand marketing efforts” and portentous sports moments.