Nike enjoys World Cup boost in race to catch Adidas

Nike enjoys World Cup boost in race to catch Adidas
France’s Kylian Mbappe was one of the tournament’s high-profile players to wear Nike shoes.

By Richard Weiss

Nike has said it is getting a sales boost from the World Cup teams and athletes it sponsored, giving the US company a tailwind in its race to catch up with Adidas in soccer.

The final when France beat Croatia was the first ever with all 22 players wearing Nike jerseys, and most of them were in Nike shoes, the company said. Demand for the French team collection is very high following the win, said Bert Hoyt, who manages Nike’s business in Europe, the Middle East and Africa.

England’s warm-up jersey sold out almost everywhere, he said. Nike had 10 teams in Russia, two fewer than Adidas, but had three among the final four.

Among those wearing Nike shoes, Croatia’s Luka Modric won the player of the tournament award, England’s Harry Kane scored the most goals, France’s Kylian Mbappe was best young player and Belgium’s Thibaut Courtois was best goalkeeper.

“This continues the trend from the fourth quarter, when our global football apparel was approaching triple-digit growth,” Hoyt said.

For the fiscal year that ended May 31, Nike posted rising revenue for soccer for the first time in four years. A year earlier, Adidas almost swept Nike clean in European leagues and competitions, securing four of those five league titles, plus the Champions League and Europa League tournaments.

However, Adidas upheld a forecast given before the tournament that it would hit a record in jersey sales this year.

Bloomberg

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