Roger Federer dumps Nike, signs $300 million Uniqlo apparel deal

Source: https://www.marketwatch.com

WIMBLEDON, England — Roger Federer and Nike Inc. are no more.

The Swiss tennis champion and current top-ranked player at Wimbledon emerged at the tournament on Monday wearing a new uniform from Uniqlo, marking the end of more than two decades of sponsorship by Nike NKE, -1.67% .

“I was excited to wear Uniqlo today,” he said after his match, in a black hoodie. “It’s been a long time coming.”

Federer’s new deal with Uniqlo is valued at roughly $300 million over 10 years, according to people familiar with the matter. The outerwear brand announced Federer as a new spokesman on its Twitter feed Monday morning. Uniqlo, which is owned by Fast Retailing Co. 9983, -0.26% of Japan, has expanded rapidly around the globe by focusing on insulated basics and wardrobe staples. Uniqlo, however, isn’t a tennis-shoe manufacturer. Federer donned Nike sneakers in his Wimbledon entrance on Monday. He plans to stick with the shoes, at least for now.



Categories: Apparel, Asia, Brands, Business, Japan, Retail, United Kingdom, USA

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