Under Armour’s Curry Brand, the company’s first legacy performance brand, is officially launching tomorrow after months of rumors. The new brand will invest a percentage of annual revenue in “under-resourced” communities.
By 2025, Curry Brand Aims To:
- Invest in basketball court renovations to create at least 20 safe places to play.
- Support 125 school and community programs that impact young athletes.
- Deliver opportunities to recruit and develop more than 15,000 coaches.
The line will launch with apparel and shoes for several sports, including basketball and golf. Curry Brand is expected to further expand into categories including running and women’s.
UA’s Hail Mary: Two years ago, the company reportedly promised Curry his own sub-brand when he was concerned about sales of his Curry 3 shoes as well as former CEO Kevin Plank’s endorsement of Donald Trump.
For Under Armour, the brand is widely seen as an attempt to compete with Nike’s Jordan Brand, which does over $3 billion in annual sales. UA’s revenue for the year ending Sept. 30 was $4.512 billion.
The company signed Curry in 2013, stealing him away from Nike; he also took an equity stake in the latest deal extension.
UA has been losing steam:
- UA has been No. 1 on a list of brands “no longer worn” by male teens for a year, according to a Piper Sandler survey, while Nike has maintained its No. 1 spot as the favorite apparel brand among teens for a decade.
- Its image has also struggled as consumers flock to athleisure brands, while UA is becoming associated with high-performance activities.
- In its latest reported quarter, UA sales were about flat from a year earlier. In North America, revenue fell 5%, but international sales increased 18%.
