Don't ignore the benefits of economies of scale and guaranteed contract fees...
Clothing producers pay for the clothing for the advertising aspect as well..
Economies of scale comes into play in terms of things such as promotion, design, distribution, management and production.. The Eels will never be able to match the production costs of Nike/Kooga/Canterbury.
Clothing producers are also able to offset any excess production costs In one line by higher sales in another one...
Ie, the brumbies gear would ave sold poorly in 2011 with excess stock in the market, yet the Reds would have sold well..
I think it's a backwards step by the Eels, they are increasing they potential gains, but also exposing themselves to higher costs and liability..