It is World Cup time, as the month-long soccer tournament kicks off June 11 throughout North America and lasts until July 19.
Perhaps no U.S. brand is tied to the “beautiful game” more than Nike (NYSE: NKE)
While Nike is not an official sponsor of the FIFA World Cup, many of the sport’s leading players, like Cristiano Ronaldo and Kylian Mbappé, have endorsement deals with Nike. Also, Nike provides the shoes and “kits” for 12 teams, including France, England, Brazil, the United States, Canada, and the Netherlands. So, Nike will have a ton of visibility over the next month, not just from the players on the field, but on the airwaves and in social media through an advertising campaign it is launching for the World Cup.
Rip the Script Rip the Script is Nike’s new World Cup ad campaign, highlighted by a star-studded 6-minute film. It’s designed to introduce the universe of Nike football — the game, the players, the culture, and, of course, Nike shoes and apparel. “We are also utilizing the World Cup as an opportunity to catalyze the football marketplace for quarters to come,” CEO Elliott Hill said on the fiscal Q3 earnings call. “By the end of the tournament, we will have elevated our presentation in more than 5,000 football doors around the world, with wholesale partners and Nike Direct.” One of the major changes that Hill has ushered in since becoming CEO is renewing the focus on wholesale channels, like Dick’s Sporting Goods, Foot Locker, Shoe Palace, and Academy Sports. Wholesale sales were up 5% in the last quarter, while direct sales were down 5% and overall sales were flat.