Under protection (UAA) announced on Monday a new deal with Golden State Warriors superstar Stephen Curry, which will directly compete with Nike’s Jordan brand.
The Curry brand, which will launch on Tuesday, aims to reach a younger consumer population, according to CNBC. The brand will offer golf and basketball clothing for men and women. The performance basketball shoes will be available on December 11.
âWe wanted to make sure we were doing this as close as possible to the final launch of the NBA seasonâ¦ and the fact that we are launching between Black Friday and the holidays feels very timely to us,â said Patrik Frisk, CEO of Under Armor. . .
Curry, who joined Under Armor in 2013, will be involved in the development of Curry brand products. The 32-year-old playmaker has long been active in pursuits other than basketball and is an avid golfer. Curry formed SC30 in 2017, which manages its investments, brand partnerships and philanthropy.
A portion of Curry Brand’s annual income will be reinvested in low-income and under-funded communities. The aim is to provide children with a safe place to play sports and to create programs for young athletes, according to The Under Armor website.
Baltimore-based Under Armor, which was founded in 1996, has faced financial hardship during the pandemic, even though there has been a âsports boomâ for companies like Lululemon, Adidas and Nike.
Under Armor sales in 2020 were lower than last year. Revenue in North America fell 5% to $ 963 million in the third quarter.
Nike has long been the market leader in athletic footwear. In June, Forbes noted that Jordan brand revenue had jumped 15% for the year to $ 3.6 billion. Sales were boosted by NBA legend Michael Jordan, who headlined the popular documentary series “The Last Dance”.
Shares of Under Armor were trading at $ 16.54, down 14 cents, or 0.84%, at 11:30 a.m. ET on Monday.