NEW YORK: Nike Inc would have liked a different ending to the World Cup.
Spain triumphed over Argentina in the final on Sunday, with both teams facing off in Adidas gear. Each of them had beaten Nike-clad teams, France and England, in the semi-finals.
For a sportswear and sneaker company like Nike, having its teams fall short of the final means missing out on the windfall generated by fans splurging on merchandise.
All the Lionel Messi and Lamine Yamal jerseys seen across the United States and beyond last weekend represented added revenue for Nike’s biggest rival.
“I know the ending was not what we dreamed,” Camilo Andrade, vice-president and general manager of Nike Football wrote in a memo viewed by Bloomberg News, following the conclusion of the tournament.
But he also wrote that “regardless of the score and who lifted the cup, we have done our job”.
Nike, which has reconfigured under chief executive officer Elliott Hill to emphasise sports, approached the World Cup as a major opportunity to gain ground in soccer.
“We executed the plan we wanted. We controlled what was in our control,” Andrade said in the memo. He also acknowledged some adversity.
“Against all odds and with an infinite number of challenges, this football team has not only written the greatest comeback story, but it has given Nike and the world reasons to believe,” Andrade wrote.
Nike’s jerseys drew criticism ahead of the tournament for puckering on the shoulder.
Production delays also meant that some tournament-related inventory didn’t reach retailers on the company’s expected timeline.
Andrade said Nike had “an outsized opportunity to lead and own women’s football”.
The Women’s World Cup will be held in Brazil next year.
Nike supplied kits for a number of teams at the World Cup, including the United States, Canada and Norway.
“Keep pushing, keep believing, keep trying. And domination will come,” Andrade said. — Bloomberg
