Steph Curry has undoubtedly played a key role in the ascension Under Armour has experienced in the last few years to become a major player in the athletic apparel market. The Baltimore-based brand just recently celebrated its 20th anniversary.
While Under Armour has been relevant in sports for some time, the company wasn’t able to break into the basketball market successfully before Steph Curry’s arrival to the brand. Basketball is one of the most important segments of an athletic apparel company’s success.
It’s the multi-billion dollar basketball shoe market that’s one of the most important segments to capture for a company to like Under Armour to compete with Nike for the long haul.
It’s no surprise that Curry’s 2-time MVP status has delivered impressive results for Under Armour, and is now a viable basketball shoe brand and competitor to Nike. Under Armour footwear sales rose 64 percent in the first three months of 2016, and growth is likely to increase with the arrival of the Curry 2.5’s, set to release on May 28.
Under Armour has also taken the steps to secure the next future superstars of the NBA with its impressive Under Armour Association grassroots presence, launched just three years ago. The company has also secured a key 10-year deal with UC Berkeley, an up and coming basketball school.
Curry continues to be a major driver for Under Armour’s footwear business, as the foundation has been set to firmly entrench the company in the basketball world for the long term.
Check out my blog for more basketball business related content www.LeverageEquityResearch.com
