Nike out of FIFA as Adidas-outfitted teams head to final

Nike’s swoosh will be notably absent from the World Cup final.

Argentina’s semi-final win over England on Wednesday crushed the sportswear giant’s hopes of sponsoring a team on the tournament’s biggest stage on Sunday.

Amid a fierce brand battle on and off the pitch, the outcome represents an assured visibility boost for rival Adidas, which outfits both finalists: Argentina and Spain.

Adidas had sponsored a total of 14 national teams in the tournament. None of Nike’s 12 teams, including semi-finalists England and France, ​managed to ⁠secure a spot in the final match.

Both companies have invested heavily in the soccer tournament, but Nike has been ⁠relying on it for sales and visibility as it tries to right its ship amid years of steadily shrinking market share.

Even a World Cup lift was unlikely to shift Nike’s trajectory. The sportswear company last month signalled that CEO Elliott Hill’s turnaround ​strategy faced significant obstacles, as persistent weakness in China and a cautious outlook overshadowed a modest fourth-quarter revenue beat.

The company’s shares have lost nearly a third of their value this year as investors grow impatient with Hill’s progress.

“There are ​more important issues, such as footwear innovation, inventory control, and stabilising sales and margins in China,” said Morningstar ⁠analyst David Swartz. “Adidas got more publicity, but that’s just the way it goes.”

A Nike spokesperson said the company always wants its ⁠athletes and federation partners to go as far as possible, but that “our vision for football has never been tied to a single moment.”

Adidas called the World Cup final ‌a “proud moment” for the company, while declining to share ​sales projections.

On top of its national team sponsorships, Nike unveiled two new Mercurial soccer boots ahead of the World Cup, partnered with local street-wear designers and ⁠refreshed soccer merchandise at more than 5,000 Nike and wholesale stores globally.

Its “Rip the Script” World Cup campaign, built around a film featuring soccer icons ‌and celebrities from France striker Kylian Mbappe to reality TV star Kim Kardashian, garnered 1.5 ​billion views during the ‌first week of the tournament, Nike said. By kick-off, its national team kits had sold 2.5 times more than the same period during the Qatar ‌World Cup in 2022.