How much do NIKE and ADIDAS earn from each football jersey?

The profit margin on official football jerseys for brands such as NIKE and ADIDAS is a complex issue, since the final price paid by the consumer is distributed among several players, including manufacturers, clubs/federations and retailers.

Below is a breakdown of the margin structure and the current financial situation of both brands ahead of the 2026 World Cup:

1 - Example based on a €100 jersey

Although manufacturing costs are relatively low, final operating margins per unit are reduced by licensing and logistics. A typical breakdown for a €100 jersey is as follows:

• Manufacturing and transport costs: €9.50 (fabrics, sewing and international logistics).
• Marketing and licensing: €10.50 (rights to use the national team crest and advertising).
• Taxes (VAT/Tax): €15.00.
• Retailer margin (store): €42.00 (this is usually the largest share of the retail price).
• Brand margin (Nike/Adidas): €18.00.

2 - Margins in 2026

Financial reports from the first quarter of 2026 show how the global environment is affecting these returns:

• ADIDAS: Reported a 51.1% gross margin in the first quarter. Although apparel sales rose 31% thanks to World Cup jerseys, the margin fell by one percentage point compared to the previous year due to U.S. tariffs and currency fluctuations.
• NIKE: Reported a tighter 40.2% margin in its third fiscal quarter (March 2026). This decline of 130 basis points was mainly attributed to higher logistics costs and tariffs in North America, one of the host markets for the World Cup.

3 - Retail prices (2026 World Cup)

Prices have increased by approximately 12% to 16% compared with Qatar 2022. The brands usually offer two versions:

• Authentic version (player): Between €150 and €160.
• Replica version (fan): Between €100 and €110.

Note: It is important to highlight that clubs and national teams receive only a small percentage of each sale (royalties), since the core of their business lies in the fixed annual payment that brands make under sponsorship agreements.

Sources: flashcore.com/nss-sports.com/frontofficesports.com/investors.nike.com/worldsoccertalk.com

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