Nike "revamped its American agency roster" by naming
S.F.-based Goodby, Silverstein & Partners as its second
full-service agency, replacing Chicago-based Leap
Partnership, according to Stuart Elliott of the N.Y. TIMES.
The Nike "review" had "originally been limited" to the
NikeTown chain, but according to Nike Global Advertising Dir
Geoffrey Frost, Nike's business "is growing in depth and
complexity, to the point that we needed a second full-
service agency." Frost said Nike "remains absolutely
committed" to their partnership with Wieden & Kennedy. The
TIMES' Elliott adds that billings for Goodby, Silverstein
"are difficult to determine," because NikeTown spending is
being increased and other asssigments were part of Nike's
entire footwear and apparel advertising (N.Y. TIMES, 3/24).
JOB DESCRIPTION: Goodby, Silverstein will be
responsible for the NikeTown account, in addition to duties
involving how Nike products "are presented and sold by other
retailers." Goodby will also handle "selective brand-level
domestic assignments" for apparel, women's sports and the
ACG line for outdoor sports. Elliott notes "to remove a
conflict of interest with its work for Nike," Goodby,
Silverstein will end working on an account for the Umbro
Int'l soccer equipment and apparel sold by SC-based Stone
Manufacturing (N.Y. TIMES, 3/24).
SHARES DROP: CNN's "Moneyline" noted that Nike shares
dipped $2.25 on Friday, despite earlier reports of third
quarter profits "soaring" 77% on "strong international
business." "Moneyline" noted that "slower U.S. growth
worried investors" ("Moneyline," CNN, 3/21).