Nike’s “Just Do It” campaign featuring Colin Kaepernick received mixed reaction based on factors such as how much consumers earn annually and how much they spend with the brand, according to a survey published Wednesday by the investment firm Cowen.

The Kaepernick ad campaign, which coincided with Nike’s 30th anniversary of its popular “Just Do It” slogan, “resonated strongly with 18-34 year old men and Nike consumers that spend $300 or more annually but was controversial among Nike consumers earning $100,000-plus,” Cowen wrote in a note to investors.

“Among the total survey population that were ‘somewhat familiar’ or ‘very familiar’ with the new campaign and Nike’s partnership with Colin Kaepernick, 42 percent indicated that it does not impact their desire to purchase Nike products vs. 29 percent ‘slightly more’-to-‘significantly more’ likely to want to buy more Nike products and 28 percent ‘slightly less,’ ‘significantly less or ‘will not buy’ Nike products anymore,” lead analyst
John Kernan wrote in the note.

“Among men age 18-34, 40 percent indicated no impact on their desire to purchase more Nike products and 47 percent indicated that they desire to buy slightly more or significantly more Nike products. Among the male population that spent $300 or more on Nike apparel or footwear in the past year, 71 percent were ‘slightly more likely’ to ‘significantly more likely’ to want to buy more Nike products.”

Nike unveiled its Kaepernick ad in early September, causing a stir on social media as many vowed to buy Nike gear while others burned their shoes and posted the videos to Twitter, Instagram and Facebook. Even the president chimed in, admonishing Nike by saying the company sent a “terrible message” by featuring Kaepernick.

But the move was clearly a financial boost for the brand. Nike shares slipped in the first few days after the ad campaign aired but then skyrocketed in the following weeks.

Here’s a recap of SGB’s coverage of the Just Do It campaign