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Nike's Colin Kaepernick Shoe Sells Out in Minutes

The product is the first shoe release tied to the former NFL quarterback's endorsement deal with the company.
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Nike  (NKE) - Get Nike Inc. Report sold out of its first shoe collaboration with former NFL quarterback Colin Kaepernick in a matter of minutes Monday, with some retailers agreeing to donate profits from the sale of the shoe to charity.

Kaepernick became a lighting rod for controversy during his 2016 season with the San Francisco 49ers. After suing, and settling with the NFL over claims that the league’s owners colluded with one another to keep him out of the league, Kaepernick has maintained an influential social media presence.

On Monday, various blue checkmarked Twitter accounts posted pictures of the mostly black shoe, which appears to be a take on Nike’s iconic Air Force 1 line of shoes.

Last year, Kaepernick was the subject of an ad campaign celebrating the 30th anniversary of Nike’s “Just Do It” slogan. Kaepernick’s relationship with Nike is curious as the sports apparel maker is in the midst of a deal that makes the company the NFL’s uniform provider through 2028.

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Nike shares have struggled in the days since its earnings release last week.

For the second quarter ended Nov. 30, the Beaverton, Ore., company reported earnings of 70 cents a share against 52 cents in the year-earlier quarter. Analysts surveyed by FactSet were expecting the company to report 58 cents a share. Revenue advanced 10% to $10.32 billion against the estimate of $10.09 billion.

Gross margin fattened by 0.2 a percentage point to 44%, while analysts were expecting expansion of 0.25 apoint. The company said its margin expansion efforts were hurt “primarily due to incremental tariffs in North America.”