Nike stuck with Tiger Woods for a long, ugly decade — and now it’s finally paying off.On Sunday, Woods won his fifth Masters green jacket and his first major championship since 2008. The TV ratings exploded, marking the highest-rated morning golf broadcast in 34 years — and Wood’s face landed on the cover of every major newspaper.
The win is proving a redemption story not just for Woods, but also for Nike, whose investors pushed the stock to $86.83 a share Monday, up from $85 a share on Thursday when the tournament began. For Nike, it was a $4 billion gain in its valuation.
The athletic wear giant also benefited from an estimated $22.5 million in brand exposure as viewers tuned in to watch the former golf hero win back his crown and saw the shoemaker’s logos splayed across his hat, shirt, pants and shoes, according to branding analytics company Apex Marketing.