Iconic Nike swoosh will be notably absent from the World Cup final
The Nike swoosh will be absent from the World Cup final, a stark indicator of rival Adidas’s dominance on the tournament’s biggest stage.
Argentina’s semi-final victory over England on Wednesday extinguished the sportswear giant’s hopes of sponsoring a team in Sunday’s ultimate match.
Amid a fierce brand battle both on and off the pitch, the outcome represents a significant visibility boost for Adidas, which outfits both finalists: Argentina and Spain. Adidas had sponsored a total of 14 national teams in the tournament, while none of Nike’s 12 teams, including semi-finalists England and France, managed to secure a spot in the final.
This outcome arrives as Nike grapples with years of steadily shrinking market share, having heavily relied on the tournament for a much-needed boost in sales and visibility.
The company signaled last month that CEO Elliott Hill’s turnaround strategy faces significant obstacles, with persistent weakness in China and a cautious outlook overshadowing a modest fourth-quarter revenue beat. Nike’s shares have lost nearly a third of their value this year as investors grow impatient with Hill’s progress.
Morningstar analyst David Swartz underscored the deeper challenges facing Nike, stating, “There are more important issues, such as footwear innovation, inventory control, and stabilizing sales and margins in China.” He added, “Adidas got more publicity, but that’s just the way it goes.”
A Nike spokesperson maintained the company’s long-term perspective, asserting that “our vision for football has never been tied to a single moment.” Meanwhile, Adidas called the World Cup final a “proud moment” for the company, though it declined to share specific sales projections.
Despite its teams not reaching the final, Nike invested significantly in the tournament. It unveiled two new Mercurial soccer boots, partnered with local streetwear designers, and refreshed soccer merchandise at over 5,000 Nike and wholesale stores globally. Its “Rip the Script” World Cup campaign, featuring stars like Kylian Mbappe and Kim Kardashian, garnered 1.5 billion views in its first week, with national team kits selling 2.5 times more than during the 2022 Qatar World Cup.
However, Adidas, an official World Cup sponsor, has emerged as the “clear winner” in the athletic footwear and apparel market, according to Drake MacFarlane, a research analyst at M Science. Stronger momentum in the U.S. and Europe helped the brand gain share from Nike in the second quarter. While World Cup demand offered a lift, Adidas’ improvement extends beyond the event, whereas Nike continues to face pressure in Europe.
M Science data shows Adidas’s share of the footwear market rose to 19.2% in June, up from 16.0% a year earlier, while Nike continued to shed share. Adidas executives reported robust bookings for World Cup products, totaling around 250 million euros (\$292 million) in the first quarter, with similar figures anticipated for the current quarter.
