Sinner – or rather its effect – is not enough for the very large multinational corporation to make ends meet. The collapse is total
The Sinner effect is not enough. At least according to the story told by Libero, which crunches the numbers for that multinational, which is at a loss compared to last year. And like any giant-in this case of self-respecting sportswear-every fall is bound to make noise.
No, we are not talking in this case about another Sinner “fall.” He continues to train in anticipation of taking the court at the Olympics. But we are talking about the blue tennis player’s sponsor, that Nike that has made Michael Jordan, Roger Federer, LeBron James, Cristiano Ronaldo, among others, wear his shoes. That is, four of the best sportsmen of the century and not only that, some of history. And among them as we know is Jannik Sinner. Now, the towing effect of the world number one in the Atp rankings has not been enough, since Nike, as we read, has the accounts at a loss.
Sinner drags little, Nike at a loss
“On June 27, executives report that the first quarter of 2025 will be bad and the half year will be worse. On June 28, shares plummet 20%, a “Black Thursday,” the worst day since 1980, when the company went public: $28 billion from market capitalization goes up in smoke. Wall Street has seen the stock drop 30 percent since the beginning of the year and called for “regime change” from management. This is the explanation from the newspaper cited earlier. But the numbers do not stop with the stock market alone.
In fact, in the last quarter the U.S. company’s revenues were -2 percent year-on-year. “Direct-to-consumer sales were down 8%. Barring the pandemic and the 2009 financial crisis, this is the company’s worst performance since 1999.” Nike is the world’s most valuable apparel brand, ahead of fashion’s holy monsters. And, over the years, it has been “dumped” by Tiger Woods-another one that let’s face it gave it some visibility-but not only that, also by soccer players such as Kane, Casemiro, Neymar, Serio Ramos, Sterling and Hazard. In short, Sinner can’t really do it all.