The World Cup final, which saw Spain deservedly win against Argentina, was also the dream stage for the visibility of the big merchandising brands, in particular Adidas e Nike, the two queens of sponsorships. The challenge didn't actually exist, because The final act of the World Cup was 100% Adidas branded, which produces and sells the shirts for both the Roja and the Albiceleste national teams. And it's no coincidence that the German brand has benefited on the stock market: its shares have gained around 6% since the start of the tournament until yesterday, reaching its highest level in eight months, while rival Nike, which sponsored 12 national teams to Adidas's 14 (including the two semi-final losers, France and England), lost around 5% in the same period.
Since the beginning of the year, Nike shares have lost more than 30% on the stock market.
In truth, the negative trend of the swoosh company is not only linked to the World Cup: Since the beginning of the year, shares have lost 30%, while Adidas shares have gained 9%.The gap between the two major competitors is nearly 40 percentage points. And the outlook is also positive for the European brand: HSBC raised its target price for Adidas to 210 euros, about 16% above the current price, citing the brand's strong performance during the World Cup. The duel has also taken the same direction outside the financial markets, in the "real" economy, as some would say, namely on the sales front: Customer traffic at Adidas stores in the United States increased by 16% in the first week of the tournament, while Nike stores saw a decline.
Morgan Stanley says the World Cup will increase Adidas' revenue by $300 million.
Morgan Stanley analysts have estimated that the World Cup will contribute approximately €300 million in additional revenue to Adidas, which should be reflected in the financial results scheduled for July 30. Nike, on the other hand, continues to go through a difficult period: the stock is heading for its fifth consecutive year of declines, in a context characterized by signs of weak consumer demand. The company is still engaged in its turnaround and has failed to turn the World Cup into the catalyst the market expected. Nike was hoping to score at the World Cup. Instead, they got a red card., the Barron's website eloquently headlined.
Another flop for Nike after the 2024 Paris Olympics
“Coming off a couple of years of slowdown – including a campaign for the 2024 Paris Olympics "which had failed to trigger a significant financial turnaround – Nike had pinned its hopes on the world's biggest sporting event to regain ground. Instead, its historic rival took all the spotlight," the site mercilessly noted, adding that the sportswear giant's huge marketing gambles "didn't deliver the commercial fairytale it desperately needed." Among these, the one that saw Michael Jordan's iconic Jumpman swoosh logo appear on Brazil's blue away shirts during their group stage match against Haiti.
There was a lot of hype surrounding that jersey before the World Cup, but Brazil exited the competition prematurely. Furthermore, high-profile Nike athletes featured prominently in World Cup commercials didn't perform as expected or they were not even called up, like the English Cole Palmer for example. In short, the 2026 World Cup will go down in history as Spain's second victory and as a strategic triumph for Adidas.
