Nike will air its first Super Bowl ad on Sunday in 27 years. The brand’s return to big games is hoping to shake up the marketing department and create a cultural moment as the new CEO tries to turn back the sales slump.
Nike is making an amazing return as a Super Bowl advertiser for the first time in 27 years.
JP Morgan analysts stole the Nike Thunder by sharing the news in a research note released Thursday following a meeting with the brand’s CEO and CFO.
Nike did not immediately respond to requests for comment.
The marketing push comes at a high stakes moment for Nike, who is struggling to revive sales late. And that’s an expensive bet. Some Super Bowl advertisers have spent more than $8 million to secure 30 seconds of airtime.
Nike has yet to reveal the commercial. Some advertisers release creatives before the game, but there are always some surprises.
Nike’s new CEO, Elliot Hill, detailed his turnaround plan in December. Hill rejoined Nike in October after a four-year break. He was previously president of marketplaces and consumer companies.
Since taking the helm, Hill has been calling on Nike for certain mistakes, including offering too many discounts and piques attention from relationships with wholesalers.
The company is also trying to heat iconic sneaker brands like Jordan and Air Force 1 again.
Nike’s revenues fell to $12.4 billion, down 8% year-on-year to $12.4 billion in the three months ended November 30, the company said in December. Nike’s stock has fallen by about 30% over the past 12 months.
As Adweek previously reported, Nike has rocked the marketing division in recent months and has increased brand storytelling. Several veterans from the company have either returned or been promoted to the marketing organization, including former vice president Nicole Hubbard Graham, who was appointed as marketing chief.
It appears Nike has banks on the bank at a major cultural moment to get the brand back on track.
The company debuted a new ad that was awarded this month’s Grammy Award, highlighting the legacy of the 40-year-old Jordanian brand.
JP Morgan analyst met friends of Hill and Nike’s Financial Chief Matthew at an event Thursday morning. In a research notes featuring analysts taking part in a convention and greeting, Nike executives said, “Excitement on Hubbard’s return and brand representatives at “massive consumer moments,” including the Jordan campaign and planned Super Bowl ads. “It said he quoted.
Hill told investors in December that Nike “has to go back to putting sports at the heart of everything we do.” He said the company will invest in “a bold brand marketing effort” and key sports moments.
