Correct me if I'm wrong, but:
Equipment effects are multiplicative with your stats. A broadsword adds many times more damage to your Sovereign than to a base unit.
It is no multiplier, it simply adds its value to the attack value of the champion.
Example:
My champion Rilis has 9 attack, i bought her mace for 270 gildars (+12 attac) and she has att 21
The same mace for a units cost 8g, 1 mats and 2 metals... For 60 gildars and some mats i can have group of 4 mace-men with att value of 52, same defense and higher hit points...
The price for the item should cover the value of the resources needed to produce it, but right now there is no corellation whatsoever.
The bottom line is: the equipment is virtually useless, as the same money may be spend waaaaaaay better somewhere else.
And once you champion die, you will never see yours equipment again, even if you eventually win the fight...