Nike Lost $3 Billion After Superstar Zio Williamson’s Shoes Blew Out

On February 20, like other loyal fans of basketball, Nike Inc. was watching every progress in the match between Duke and North Calorina, which promises the most thrilling moments in this year’s basketball season. As per the footwear brand, this was for its ad campaign with the phrase “It’s gotta be the shoes!”

Zion Williamson, a young forward of Duke University, sustained a knee injury within 33 seconds after the match has begun. When he slipped on the floor, his Nike 2.5 PE shoes suddenly exploded, causing his knee to suffer a serious injury.

Duke’s fans must feel hurt when seeing 18-year-old Williamson’s foot show off the torn shoe. More especially, he has now been among the most outstanding NBA seeds in recent times.

Barack Obama, the former US President, who was sitting in the audience seats, was accidentally caught on a camera with a short comment: “His shoe broke.” This may not be just a historical match between Duke and North Calorina, but it is also Nike’s unforgettable event during its development.

Our young player, Zion Williamson, couldn’t come back the match. He was diagnosed with a mild sprain and will have to miss a few of the upcoming matches. What’s a pity!

If Nike doesn’t handle the incident well, it may lose a large number of pro customers as basketball players, as well as popular customers.

As per those who supported Duke University and Zion Williamson, the match made them really disappointed because it ended in a score of 88-72, and of course, the winner wasn’t Duke.

Moreover, Nike’s investors didn’t hide their disappointment with the brand. Its stock has increased by around 13 percent this year, and by about 25 percent during the latest 12 months.

Only after one night, the shares of the footwear giant were down 1.6% and it lost $3.75 billion in market caps.