Last August, Bayern Munich striker Harry Kane signed a lifetime deal with the footwear brand Skechers. According to data analytics platform AltIndex, this partnership has resulted in the company’s shares rising by nearly a third. Furthermore, Skechers’ share price is projected to grow an additional five percent by December 2024, increasing from $67.53 (£52.08) to $70.81 (£54.61). A football finance expert has suggested that Kane’s influence through this deal could rival that of Lionel Messi with Adidas or Cristiano Ronaldo with Nike.
Football finance expert Dr. Rob Wilson commented: “Skechers is already a well-known brand, but Kane’s endorsement is significantly boosting their recognition as a football boot brand.”
He continued, “Although any Championship success may not directly enhance Kane’s marketability, the Skechers brand has already seen a 30% increase in share price since Kane announced his partnership a year ago. This growth is expected to continue as people become more aware that Skechers now manufactures football boots.”
Wilson also noted, “Most players align with their club’s brand, such as the increasing number of Puma-endorsed athletes at Manchester City. This can limit the marketability of an individual player. However, just as Messi has influenced Adidas and Ronaldo has impacted Nike, Kane is likely to have a similar effect on Skechers. The impact may be smaller due to Skechers’ relatively modest activation budgets compared to these major brands.”
He added, “Promoting an athlete like Michael Jordan at Nike is straightforward with multi-million dollar budgets. In contrast, Skechers’ spending to promote Kane will be much lower. Still, being the face of the brand is significant for both Kane and Skechers.”
While Kane may never achieve the fame of Ronaldo or Messi, two of the game’s all-time greats, he is making a notable impact at Skechers. Google Trends data shows the company has a score of 79/100, up 16 percent since June 2023, and five percent over the past year. Additionally, web traffic has increased by 14 percent since last July, with estimated visitors rising from 12,744,000 to 16,824,000, which is a three percent increase in the past month. Continued success on the pitch could further boost Skechers financially.
On the field, Kane is set to lead England against Spain in the Euro 2024 final in Berlin on Sunday night. After finishing as runners-up to Italy in the previous tournament, the Three Lions are determined to secure victory this time.