Harry Kane's Skechers deal will have a 'similar impact to Lionel Messi and Cristiano Ronaldo' as the shoe brand enjoys a 29 per cent share price hike.
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Kane signs lifetime deal with SkechersCompany's shares rise by 29% in past yearKane's impact compared to Messi and RonaldoWHAT HAPPENED?
Bayern Munich striker Kane signed a lifetime deal with footwear brand Skechers last August and according to data analytics platform, AltIndex, the company's shares have risen by nearly a third since then. They add that Skechers' share price is expected to grow an extra five per cent by December 2024 from $67.53 (£52.08) to $70.81 ($54.61). Now, a football finance expert says Kane could have a similar impact through his Skechers brand deal as Lionel Messi did when he paired up with Adidas, or Cristiano Ronaldo with Nike.
AdvertisementGetty ImagesWHAT A FOOTBALL FINANCE EXPERT SAID
Football finance expert Dr Rob Wilson said: "Skechers as a brand are obviously well known, but they are becoming much more recognisable as a football boot brand thanks to his [Kane's] endorsement."
He added: "I don’t think any Championship success will have any tangible effect on his marketability, but in terms of the Skechers brand we’ve already seen a 30% increase in the share price since he announced his partnership with the brand 12 months ago. This is significant because it will grow further still because people will begin to realise they are now making football boots."
Wilson continued: "Of course, most players are now aligned with their club brand. So if you look at Manchester City, the number of Puma-endorsed athletes are increasing. So you get a kind of plateauing of the individual marketability of a single player. If you look at Adidas with Lionel Messi, or Nike and Cristiano Ronaldo, Harry Kane will certainly have that sort of influence with Skechers. But of course, the influence will have a much lower impact compared to those major brands simply because the activation strategies will be smaller and less well-funded.
"So amplifying Michael Jordan at Nike for instance will be relatively straightforward when you’ve got multi-million dollar budgets in order to do that. Skechers will be spending a very small amount of money in comparison to that to activate the Harry Kane alignment. But it is certainly very significant when you are the face of the brand, for both the athlete and the brand itself."
THE BIGGER PICTURE
While Kane is never going to be as famous as Ronaldo or Messi, two all-time greats of the game, he is certainly having an impact at Skechers. Google Trends data states the company has a score of 79/100, up 16 per cent since June 2023, and five per cent in the last year. They have also seen an increase in web traffic of 14 per cent since last July, with estimated visitors up from 12,744,000 to 16,824,000 – which is also up by three per cent in the last month. If Kane continues to shine on the pitch, that may lead to more financial boosts off it.
Getty ImagesWHAT NEXT?
Away from off the field matters, Kane is set to lead his England side against Spain in the final of Euro 2024 in Berlin on Sunday night. After finishing as runners-up to Italy in the last edition of the tournament, the Three Lions are hoping to go one better this time out.